News Release

Apr. 02, 2012

JCR Affirmed A/Stable and A- Rating on Senior debts and Subordinated Bonds of Nanto Bank

JCR Affirmed AAA Ratings on Finland

JCR Affirmed J-1+ Rating on CP of Okinawa Electric Power Company

JCR Assigned AAA/Stable Rating to Senior Debts of Japan Bank for International Cooperation

JCR Affirmed J-1 Rating on CP of Fuyo General Lease

JCR Assigned Preliminary A- Rating to Shelf Reg. of Ube Industries

Mar. 30, 2012

[ Asset Securitization Products ] JCR Assigned J-1+ to Bills Receivable ABL12-03 (A Corp. in Niigata)

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills Receivable ABL12-03

[ Asset Securitization Products ] JCR Assigned J-1 to Molten Bills Receivable ABL12-03

[ Asset Securitization Products ] JCR Assigned J-1 to Toda Kogyo Bills Receivable ABL12-03

[ Asset Securitization Products ] JCR Assigned J-1 to Nohara Bills Receivable ABL12-03

JCR Downgraded Rating on Mitsumi Electric from A/Stable to A-/Stable; Affirmed J-1 Rating

JCR Affirmed A-/Stable Rating on Takasago International Corporation

JCR Assigned AA- Rating to Loan of Tokyo International Air Terminal Corporation

JCR Withdraws J-1 Rating on CP of Takara Standard

JCR Assigned Preliminary A- Rating to Shelf Reg. of Central Glass

JCR Affirmed A+ and A Rating on Subordinated Euro Medium Term Note Programme of Sumitomo Mitsui Trust Bank and STB Finance Cayman
JCR Withdraws Preliminary AA- Rating on Shelf Reg. of Chuo Mitsui Trust and Banking

JCR Affirmed AA+/Stable Rating on Aoyama Gakuin

JCR Assigned Preliminary AA Rating to Shelf Reg. of Bank of Yokohama

Mar. 29, 2012

[ Asset Securitization Products ] JCR Assigned J-1 to CATERPILLAR Kyushu Bills ABL12-03

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL12-03

[ Asset Securitization Products ] JCR Assigned J-1 to Hayakawa Rubber Bills Receivable ABL12-03

JCR Upgraded Rating on KEIAIKAI from BBB+/Positive to A-/Stable

JCR Affirmed A- Rating on Senior debts of Hiroshimashi Credit Cooperative; Revised Outlook from Stable to Positive

JCR Assigned Preliminary A Rating to Shelf Registration of Takara Standard; Affirmed A/Stable and J-1 Rating

Mar. 28, 2012

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL12-03 (2)(D Hospital)

[ Asset Securitization Products ] JCR Assigned A to NIHONWASOU CREDIT Installment Sec. 201203

JCR Assigned BBB+/Stable Rating to Senior Debts of Sato Holdings Corporation

JCR Affirmed BBB/Stable Rating on Senior debts of GEO HOLDINGS

Mar. 27, 2012

[ Asset Securitization Products ]JCR Assigned AAA and A- to Beneficial Interest of Triangulum Occident

JCR Affirmed A-/Stable and J-1 Rating on Idemitsu Credit

JCR Assigned BBB+ preliminary ratings to notes of India EXIM

JCR Affirmed A/Stable Rating on Wakkanai Shinkin Bank

JCR Affirmed A/Stable Rating on Tomakomai Shinkin Bank

JCR Affirmed A-/Stable and A- Rating on Temp Holdings

JCR Downgraded Rating on Nihon Chouzai from BBB to BBB-

Mar. 26, 2012

[ Asset Securitization Products ] JCR Assigned J-1 to Kimura Bills Receivable ABL12-03

[ Asset Securitization Products ]JCR Assigned J-1+ to MSNW Trust Certificate Series 12030

JCR Assigned BB+ Rating to Subordinated Bonds and Subordinated Loans of Nippon Light Metal

JCR Affirmed BBB+/Stable Rating on Senior Debts of Yasuda Warehouse

JCR Affirmed A+p/Stable Rating on Senior debts of Shimizu Corporation

JCR Placed Ratings on Kowa Real Estate under Credit Monitor #BBB+[Positive] and #J-2[Positive]

Mar. 23, 2012

[ Asset Securitization Products ] JCR Assigned J-1+ and J-2 to C Corporation Bills Receivable ABL12-03

[ Asset Securitization Products ] JCR Assigned J-3 to Monthly Clear Card Shopping Receivable ABL12-03

JCR Affirmed A Ratings on Telefonica and Revised Outlook to Negative from Stable
JCR Affirmed A Ratings on Telefonica Europe

JCR Affirmed AAA Ratings on IBRD

JCR Affirmed BBB/Stable and J-2 Rating on Tokai Tokyo Financial Holdings
JCR Affirmed BBB/Stable and J-2 Rating on Tokai Tokyo Securities

JCR Affirmed BBB/Stable Rating on Okasan Securities Group
JCR Affirmed BBB/Stable Rating on Okasan Securities

JCR Affirmed AA/Stable Rating on Senior debts of Kokugakuin University

JCR Removed CM; Downgraded Rating on Nippon Sheet Glass from #BBB+/Negative to BBB/Negative Outlook

Mar. 22, 2012

[ Asset Securitization Products ] JCR Assigned Pre. J-1 to Aso Shoji Bills Receivable ABL12-03

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to CATERPILLAR Kyushu Bills ABL12-03

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL Program (M Hospital)

JCR Affirmed AAA/Stable Rating on Senior Debts of Kyushu University

JCR Affirmed A/Stable, A, pre. A and J-1 on Sumitomo Heavy Industries

JCR Affirmed J-1 Rating on CP of Tokyo Associates Finance Corporation

Mar. 21, 2012

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL12-03 (Asahikawa Sanai HP)

[Asset Securitization Products] JCR Assigned Preliminary A to NIHONWASOU CREDIT Installment Sec. 201203

[ Asset Securitization Products ]JCR Assigned AAA & BBB- to Toyonosato Senior Beneficial Interest, other Beneficial Interest and ABL

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL12-03

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL12-03 (C Hospital)

JCR Affirmed BBB-/Stable Rating on Senior Debts of Showa Aircraft

JCR Affirmed A and J-1 Rating on Takashimaya; Revised Outlook to Stable

JCR Affirmed A Rating on J.Front Retailing; Revised Outlook from Negative to Stable

JCR Assigned J-2 Rating to CP of Zensho Holdings

Mar. 19, 2012

[ Asset Securitization Products ] JCR Assigned Preliminary J-1+ to MSNW Trust Certificate Series 12030

[ Asset Securitization Products ] JCR Assigned J-1 to Kurashiki Medical Center Beneficial Interest 12-03

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL12-03 (I Hospital)

JCR Affirmed A+/Positive, Preliminary A+ and J-1 Rating on Sumitomo Metal Mining

JCR Assigned A- Rating to Bonds of All Nippon Airways

JCR Affirmed A+/Stable and J-1 Rating on Sumitomo Bakelite

Mar. 16, 2012

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL12-03 (L Hospital)

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL12-03 (G Hospital)

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL12-03 (F Hospital)

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL12-03 (Kyowakai)

JCR Affirmed A+/Stable Rating on Keiyo Bank

JCR Affirmed A/Stable, A and Preliminary A on Taisei Corporation

JCR Affirmed A+/Stable Rating on Senior Debts of Obayashi

JCR Affirmed BBB Rating on Sanyo Electric Railway; Revised Outlook to Positive

JCR Affirmed BBB+/Stable and J-2 Rating on GS Yuasa Corporation

JCR Assigned AAA Rating to Bonds of Aichi Prefecture

Mar. 15, 2012

[ Asset Securitization Products ] JCR Assigned J-1 to Dispensing Fees Receivable ABL12-03 (sun-kur)

[ Asset Securitization Products ] JCR Assigned J-1+ to Medical Fees Receivable Beneficial Interest Program (Takeda General Hospital)

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL12-03 (E Hospital)

JCR Affirmed AA-p/Stable Rating on Hitachi

JCR Affirmed A Rating on France Telecom

JCR Assigned BBB-/Stable and J-2 Rating to Senior debts and CP of JK Holdings

Mar. 14, 2012

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL12-03 (K Hospital)

JCR Affirmed A/Stable Ratings on Hokuhoku Financial Group
JCR Affirmed A/Stable Ratings on Hokuriku Bank
JCR Affirmed A/Stable Ratings on Hokkaido Bank

Mar. 13, 2012

JCR Upgraded Rating on Leases/Loans Receivable Against Softbank Mobile Corporation from A- to A

JCR Upgraded Rating on Leases/Loans Receivable Against Softbank Mobile Corporation from A- to A

JCR Upgraded Rating on Leases/Loans Receivable Against Softbank Mobile Corporation from A- to A

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL12-03 (B Hospital)

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Kurashiki Medical Center Beneficial Interest 12-03

JCR Upgraded Rating on Leases/Loans Receivable Against Softbank Mobile Corporation from A- to A

JCR Affirmed AA+/Stable and J-1+ on Toa Reinsurance

JCR Affirmed BBB+/Stable Rating on Settsu Suito Shinkin Bank

JCR Affirmed BBB-/Stable Rating on Senior debts of Harima-Kyowa Co.

JCR Assigned A+ Rating to Subordinated Bonds of Sumitomo Trust and Banking

JCR Assigned AA- Rating to Subordinated Bonds (Hybrid Securities) of Toa Reinsurance