News Release

Jul. 28, 2014

JCR's Rating Review of FX Margin Trading Intermediaries

JCR Affirmed A-/Stable, A- and J-1 on Central Glass

Jul. 25, 2014

[ Asset Securitization Products ] JCR Assigned J-1+ and J-2 to Hokuriku Bank C Corporation Bills Receivable ABL14-07

[ Asset Securitization Products ] JCR Assigned J-1 to Hyakugo Bank B Corporation Bills Receivable ABL14-07

[ Asset Securitization Products ] JCR Assigned J-3 to Monthly Clear Card Shopping Receivable ABL 14-07

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL14-07 (D Hospital)

[ Asset Securitization Products ]JCR Assigned J-1+ to MSNW Trust Certificate Series 14070

JCR Affirmed BBB+ Long-term Issuer Rating on Senshu Ikeda Bank; Revised Outlook from Stable to Positive

JCR Assigned Preliminary A- Rating to Shelf Registration of NEC Capital Solutions; Affirmed A-/Stable, A- and J-1

JCR Affirmed BBB/Stable Long-term Issuer Rating on Hitachi Zosen

Jul. 24, 2014

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL14-07

JCR Assigned AA- Rating to Bonds of DAIKIN INDUSTRIES

JCR Assigned A Rating to Bonds of Takashimaya

JCR Assigned Preliminary BBB+ Rating to Shelf Registration of PGM Holdings; Affirmed BBB+/Stable Long-term Issuer Rating and BBB+ Rating on Bonds

JCR Assigned AAA Rating to Bonds of Aichi Prefecture

JCR Assigned Preliminary A- Rating to Shelf Registration of Nisshin Steel

JCR Assigned A- Rating to Bonds of PENTA-OCEAN CONSTRUCTION

JCR Affirmed BBB/Stable Long-term Issuer Rating on FUKUHO BANK

JCR Affirmed A/Stable Long-term Issuer Rating and A- Rating on Subordinated Bonds of Fukui Bank

Jul. 23, 2014

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL14-07

JCR Assigned A- Rating to Bonds of Tokyu Fudosan Holdings

JCR Assigned A Rating to Bonds of Fuyo General Lease

JCR Assigned A Rating to Bonds of Sumitomo Realty & Development

JCR Affirmed AA-/Stable Long-term Issuer Rating and AA- Rating on Bonds for COCA-COLA WEST

JCR Assigned AA-/Stable Long-term Issuer Rating and Preliminary A+ to Shelf Registration (Subordinated Bonds with Contractual Point of Non-viability Loss Absorption Feature) for Sumitomo Mitsui Trust Holdings

JCR Affirmed AA-/AA- (FC/LC) Ratings on Italy with Negative Outlook

Jul. 22, 2014

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Hyakugo Bank B Corporation Bills Receivable ABL14-07

JCR Upgraded Rating on MORI BUILDING from A-/Stable, A-, Preliminary A- and BBB to A/Stable, A, Preliminary A and BBB+

JCR Affirmed BBB+/Stable Long-term Issuer Rating and BBB Rating on Subordinated Bonds for TOMATO BANK

JCR Affirmed BBB/Stable Long-term Issuer Rating on ROYAL HOLDINGS

JCR Affirmed BBB+/Stable Long-term Issuer Rating on FUJIKURA KASEI

Jul. 18, 2014

[ Asset Securitization Products ]JCR Assigned J-1 to Medical Fees Receivable ABL14-07 (F Hospital)

JCR Assigned A+ Rating to Bonds of Marubeni

JCR Placed Rating on Takata Corporation under Credit Monitor #A[Negative]

JCR Assigned AA- Rating to Bonds of Mizuho Bank

JCR Assigned A- Rating to Bonds of Orient Corporation

Jul. 17, 2014

JCR Affirmed BBB+ Long-term Issuer Rating on KOHNAN SHOJI; Revised Outlook from Stable to Negative

JCR Assigned AA Rating to Bonds of Bank of Tokyo-Mitsubishi UFJ

Jul. 16, 2014

JCR Assigned Preliminary A Rating to Specified Bonds of Meiji Yasuda Life 2014 Fund SPC

[ Asset Securitization Products ]JCR Assigned Preliminary J-1+ to MSNW Trust Certificate Series 14070

JCR Affirmed BB+/Stable Long-term Issuer Rating on YAMADA SERVICER SYNTHETIC OFFICE CO., LTD.

JCR Affirmed A-/Stable Long-term Issuer Rating, A- Rating on Bonds, Preliminary A- Rating on Shelf Registration and J-1 Rating on CP for Toyo Tire & Rubber

JCR Affirmed S3 Special Servicer Rating for YAMADA SERVICER SYNTHETIC OFFICE

JCR's Opinion on Nuclear Regulation Authority's Draft Approval for Kyushu Electric Power's Application for Change of Installment at Sendai Nuclear Power Plant

JCR Assigned AAA Rating to Bonds of Aichi Prefecture

Jul. 15, 2014

[ Asset Securitization Products ]JCR Affirmed J-1 on Medical Fees Receivable ABL Program (K Hospital)

JCR Affirmed BBB/Stable Long-term Issuer Rating on HOSOKAWA MICRON

JCR Affirmed A/Stable Long-term Issuer Rating on OSG CORPORATION

JCR Affirmed A-/Stable and A- on YOKOHAMA REITO

JCR Assigned AA- Rating to Bonds of Sumitomo Mitsui Trust Bank

JCR Assigned AA- Rating to Bonds of GLP J-REIT

JCR Affirmed AA/Stable, AA and J-1+ on HOYA

JCR Assigned A- Ratings to JPY Bonds of Mexico

Jul. 14, 2014

JCR Affirmed AA+p/Stable Long-term Issuer Rating on Astellas Pharma

JCR Assigned Preliminary A Rating to Shelf Registration of TAIYO NIPPON SANSO

Jul. 11, 2014

[ Asset Securitization Products ] JCR Assigned J-1+ to Hokuriku Bank D Corporation Bills Receivable ABL14-07

JCR Assigned AA- Rating to Bonds of Kansai Electric Power

JCR Affirmed BBB-/BBB- (FC/LC) Ratings on Turkey

JCR Assigned AAA Rating to Bonds of Aichi Prefecture

JCR Assigned Preliminary A- Rating to Shelf Registration of SoftBank

JCR Assigned Preliminary AA- Rating to Shelf Registration of NIPPON STEEL & SUMITOMO METAL CORPORATION

JCR Assigned A+ Rating to Bonds of Comforia Residential REIT

JCR Assigned A+ Rating to Bonds of Kenedix Office Investment

JCR Upgraded Long-term Issuer Rating on North Pacific Bank from A-/Stable to A/Stable

JCR Assigned A- Rating to Bonds of Mazda Motor

JCR Assigned A Rating to Bonds of Kawasaki Heavy Industries

JCR Assigned A+ Rating to Bonds of Hankyu Hanshin Holdings

JCR Assigned A Rating to Bonds of SHOWA SHELL SEKIYU

JCR Assigned Preliminary A Rating to Shelf Reg. of NICHIREI

JCR Affirmed AAA Rating on IDB

JCR Assigned BBB+ Rating to Bonds of Nankai Electric Railway

JCR Upgraded Rating on Towa Bank from BBB/Stable to BBB+/Stable

Jul. 10, 2014

JCR Assigned Preliminary A- Rating to Shelf Registration of Tokyu Fudosan Holdings

JCR's Opinion on Benesse Holdings' Leakage of Customer Information

JCR Assigned AA- Rating to Bonds of Kyushu Electric Power

JCR Affirmed A-/Stable Long-term Issuer Rating on TOMONY Holdings

Jul. 09, 2014

JCR Assigned Preliminary A Rating to JRE Mega Solar Project Bond Trust 2 Beneficial Interest and Trust ABL

JCR Assigned AA- Rating to Bonds of Asahi Group Holdings

JCR Affirmed BBB+/Stable Long-term Issuer Rating and J-2 Rating on CP for RESORTTRUST

JCR Assigned BBB+ Rating to Bonds of Kintetsu Corporation

JCR Assigned A Rating to Subordinated Bonds (with contractual point of non-viability loss absorption feature) of Mizuho Financial Group

JCR Affirmed BBB+ Rating on Hanwha Chemical

Jul. 08, 2014

JCR Affirmed A+ Ratings on Shinhan Bank

JCR Assigned AAA Rating to Bonds of Development Bank of Japan

JCR Assigned Preliminary AA Rating to Shelf Registration of Sumitomo Mitsui Banking Corporation

Jul. 07, 2014

[ Asset Securitization Products ]JCR Affirmed BBB Rating on ABL of WBBL

JCR Assigned Preliminary A Rating to Shelf Registration of Kobe Steel

Jul. 04, 2014

JCR Affirmed BBB- Long-term Issuer Rating and J-2 Rating on CP for ICHINEN HOLDINGS; Revised Outlook from Stable to Positive

JCR Upgraded Rating on AIR WATER from A/Positive to A+/Stable

JCR Assigned AA- Rating to Bonds of Odakyu Electric Railway

JCR Upgraded Rating on PENTA-OCEAN CONSTRUCTION from BBB+/Stable, BBB+ and J-2 to A-/Stable, A- and J-1

JCR Assigned AA- Rating to Bonds of RICOH LEASING

Jul. 02, 2014

JCR Assigned Preliminary A Rating to Shelf Registration of SHOWA SHELL SEKIYU; Affirmed A/Stable, A and J-1

Jul. 01, 2014

JCR Affirmed AA-p Long-term Issuer Rating on Hitachi; Revised Outlook from Stable to Positive

JCR Affirmed BBB+/Stable Long-term Issuer Rating on TSUKADA GLOBAL HOLDINGS (Former BEST BRIDAL Inc.)

JCR Assigned Preliminary AA+ Rating to Shelf Registration of NTT DATA

JCR Placed Ratings on Busan Bank under Credit Monitor #A[Negative]

JCR Affirmed A-/Stable Long-term Issuer Rating on Chikuho Bank

Highlights of Major Oil Distributors' Financial Results for Fiscal Year Ended March 31, 2014

JCR Affirmed AAA Ratings on Belgium