News Release

Dec. 26, 2011

JCR Affirmed A/Stable Rating on Senior debts of Noritake

JCR Affirmed AA/Stable on Nisshin Seifun Group

JCR Affirmed A-/Stable and J-1 on Showa Sangyo

JCR Affirmed AA-/Stable on Oriental Yeast

JCR Affirmed A/Stable and J-1 on Nippon Flour Mills

JCR Assigned BBB/Stable Rating to Senior Debts of Aderans

Dec. 22, 2011

JCR Assigned J-3 to Monthly Clear Card Shopping Receivable ABL11-12

JCR Affirmed A+/Stable and J-1 Rating on Mitsubishi Plastics

JCR Affirmed A+/Stable and A+ Rating on Mitsubishi Rayon

JCR Affirmed A+p/Stable Rating on Mitsubishi Tanabe Pharma Corporation

JCR Affirmed A+/Stable and A+ on Mitsubishi Chemical Holdings

JCR Affirmed A+/Stable and J-1 on Mitsubishi Chemical Corporation

JCR Downgraded Rating on Nippon Yusen Kabushiki Kaisha from AA-/Stable to A+/Stable

JCR Affirmed BBB/Stable on Shinnihon Corporation

JCR Affirmed AA- and J-1+ Rating on Daibiru; Revised Outlook from Stable to Negative

JCR Affirmed A/Stable on The Japan Net Bank

Dec. 21, 2011

JCR Assigned Pre. J-1 to Hyakugo Bank B Corporation Bills Receivable ABL11-12

JCR Assigned J-1 to Medical Fees Receivable ABL11-12 (M Hospital)

JCR Affirmed A/Stable and A on Nifco

JCR Affirmed AA-/Stable Rating on Senior Debts of Yamada Denki

JCR Affirmed J-1 Rating on CP of UC Card

Dec. 20, 2011

JCR Assigned Pre. J-1 to Aso Shoji Bills Receivable ABL11-12

JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL11-12

JCR Assigned J-1 to Medical Fees Receivable ABL11-12 (C Hospital)

JCR Assigned J-1 to Medical Fees Receivable ABL11-12 (H Hospital)

JCR Assigned J-1 to Medical Fees Receivable ABL11-12 (G Hospital)

JCR Assigned J-1 to Medical Fees Receivable ABL11-12 (Asahikawa Sanai HP)

JCR Downgraded Rating on Rohm from AA/Stable to AA-/Stable

JCR Placed Ratings on Hulic under Credit Monitor #A[Negative]
JCR Placed Ratings on Shoei under Credit Monitor #BBB+[Positive]

JCR Affirmed BBB/Stable and J-2 on Okabe

JCR Affirmed BBB-/Stable and J-2 Rating on Taiyo Oil

Dec. 19, 2011

JCR Assigned J-1 to Kurashiki Medical Center Beneficial Interest 11-12

JCR Assigned J-1 to Medical Fees Receivable ABL11-12 (I Hospital)

JCR Assigned Preliminary J-1+ to MSNW Trust Certificate Series 11120

JCR Affirmed A/Positive and J-1 Rating on Cedyna Financial

JCR Upgraded Rating on Keiyukai from BB+/Positive to BBB-/Stable

JCR Assigned AA to EMTN Programme of Mitsubishi UFJ Trust and Banking; Affirmed AA- and A+ on EMTN

JCR Assigned Preliminary AA and AA- Rating to Shelf Reg. of Bank of Tokyo-Mitsubishi UFJ

Dec. 16, 2011

JCR Assigned J-1 to Medical Fees Receivable ABL11-12 (L Hospital)

JCR Assigned J-1 to Medical Fees Receivable ABL11-12 (F Hospital)

JCR Assigned J-1 to Medical Fees Receivable ABL11-12 (E Hospital)

JCR Assigned J-1 to Dispensing Fees Receivable ABL11-12 (sun-kur)

Dec. 15, 2011

JCR Assigned J-1 to Medical Fees Receivable ABL11-12 (Kyowakai)

JCR Assigned J-1+ to Takeda General Hospital Beneficial Interest 11-12

JCR Assigned J-1 to Medical Fees Receivable ABL11-12 (K Hospital)

JCR Affirmed A/Stable and J-1 on Acom

JCR Affirmed A/Stable and J-1 Rating on Taihei Kogyo

Dec. 14, 2011

JCR Assigned Pre. J-1 to Kurashiki Medical Center Beneficial Interest 11-12

JCR Affirmed AA+/Stable and J-1+ on Japan Trustee Services Bank

JCR Affirmed A/Stable and A Rating on Sr.debts and Shelf Registration of Daiichikosho

JCR Affirmed BBB+/Stable, BBB and Preliminary BBB+ on Daisan Bank

JCR Affirmed AA+/Stable and J-1+ on Master Trust Bank of Japan

JCR Assigned AA- Rating to Bonds of ITOCHU Corporation

Dec. 13, 2011

JCR Assigned J-1 to Medical Fees Receivable ABL11-12 (B Hospital)

JCR Assigned Pre. J-1+ to Bills Receivable Beneficial Interest 11-12 (A Corp.)

JCR Assigned A- rating to bond of Renault

JCR Assigned BBB+ Rating to Bonds of Accordia Golf

JCR Affirmed BBB/Stable and J-2 on Sojitz Corporation

JCR Assigned A+ Rating to Subordinated Bonds of SMBC

JCR Assigned BBB Rating to Subordinated Bonds of Tomato Bank

Dec. 12, 2011

JCR Affirmed AAA Rating on Sunrise

JCR Affirmed BBB/Stable on Yamazawa

JCR Affirmed BBB+ Ratings on India EXIM

JCR Assigned AA-/Stable Rating to Senior debts of Daiwa House Residential Investment Corporation

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

JCR Placed Ratings on Tokyo Tatemono under Credit Monitor #A-, #J-1[Negative]

JCR Affirmed BBB-/Stable Rating on Senior Debts of Kyoritsu Maintenance

JCR Assigned A-/Stable Rating to Senior Debts of Nippon Chemi-Con Corporation

Dec. 09, 2011

JCR Assigned BBB+ Rating to Bonds of Kintetsu

JCR Affirmed BBB+ Ratings on India

JCR Affirmed BBB+ Ratings on ICICI Bank

JCR Affirmed AA+/Stable, Preliminary AA+ and J-1+ on NTT Data

JCR Assigned A+ Rating to Sub.Bonds of Nomura Holdings

JCR Affirmed A- rating on Renault

JCR Assigned A Rating to Bonds of Nabtesco

JCR Assigned AAA Rating to Bonds of Aichi Prefecture

Dec. 08, 2011

JCR Assigned AA Rating to Bonds of Kansai International Airport

JCR Affirmed BBB/Stable and J-2 on Showa Leasing

JCR Assigned AA- Rating to Bonds of Mitsubishi UFJ Lease & Finance

JCR Affirmed BBB/Stable and J-2 Rating on Shinsei Bank

JCR Affirmed BBB+/Stable Rating on Aozora Bank

Dec. 07, 2011

JCR Assigned J-1 to Medical Fees Receivable ABL11-12 (D Hospital)

JCR Affirmed A+ and J-1 on JFE Shoji Trade Corporation; Revised Outlook to Positive

JCR Withdraws A-/Stable Rating on Softbank Telecom Corp.

JCR Affirmed A+ on JFE Shoji Holdings; Revised Outlook to Positive

JCR Placed Ratings on Toshiba Housing Loan Service Corp. under Credit Monitor #BBB[Positive] and #J-2[Positive]

Dec. 06, 2011

JCR Assigned A Rating to Bonds of Minebea

JCR Assigned A Rating to Bonds of Hokuetsu Kishu Paper

JCR Affirmed A-/Stable Rating on Senior Debts of Takeda General Hospital

JCR Assigned BBB+ Rating to Subordinated Bonds of The Higashi-Nippon Bank

Dec. 05, 2011

JCR Affirmed A/Stable and J-1 Rating on Sanwa Holdings

JCR Affirmed J-2 Rating on CP of Sumitomo Light Metal Industries

JCR Assigned A- Rating to Subordinated Bonds of Nishi-Nippon City Bank

JCR Downgraded Rating on Kawasaki Kisen from A-/Stable to BBB+/Stable

Dec. 02, 2011

JCR Assigned A- Rating to Bonds of Ube Industries

JCR Assigned AA Rating to Bonds of Mitsubishi Logistics Corporation

JCR Affirmed BBB+/Stable and J-2 Rating on Joshin Denki

JCR Assigned Preliminary A+ Rating to Shelf Registration of Sumitomo Rubber Industries

JCR Assigned AAA Rating to Bonds of Tokyo Metro

JCR Assigned AA- Rating to Bonds of Toyota Tsusho