News Release

Mar. 04, 2011

Affirmed BBB/Stable rating on senior debts of Tokyo Derica

Assigned A rating to bonds of Don Quijote

Assigned A- rating to bonds of Okamura Corporation

Affirmed A/Stable rating on Hamamatsu Photonics

Mar. 03, 2011

Affirmed BBB+ rating on Nagano Bank; Revised outlook to Stable

Affirmed A-/Stable and J-1 on Tsubakimoto Chain

Affirmed J-2 on CP of Mitsubishi Electric Credit

Affirmed BBB/Negative and BBB on Covalent Materials

Affirmed BBB/Stable rating on Tokushu Tokai Paper

Mar. 02, 2011

Assigned BBB+ rating to bonds of Akebono Brake Industry

Affirmed BBB/Stable rating on senior debts of Nichias

Assigned A rating to bonds of Fuyo General Lease

Mar. 01, 2011

Affirmed A-/Stable rating on Chikuho Bank

Affirmed A/Stable, A and Preliminary A on Sankei Building

Feb. 28, 2011

Assigned J-1+ to Bills Receivable ABL11-02 (A Corporation in Niigata)

Assigned J-1+ to Teral Bills Receivable ABL11-02

Assigned J-1 to Molten Bills Receivable ABL11-02

Assigned J-1 to Nohara Bills Receivable ABL11-02

Assigned J-1+ to Bills Receivable ABL11-02 (A Corporation in Niigata)

Affirmed J-2 rating on CP of Furukawa Electric

Withdraws BBB+ rating on sr. debts of NEC Tokin

Affirmed AAA/Stable and AAA on NTT DoCoMo

Affirmed J-1+ on CP of Nippon Telegraph and Telephone West Corporation

Affirmed J-1+ on CP of Nippon Telegraph and Telephone East Corporation

Affirmed A/Stable on senior debts of First Bank of Toyama

Affirmed BBB+/Stable on sr. debts of Settsu Suito Shinkin Bank

Affirmed A-/Stable rating on Nittetsu Mining

Feb. 25, 2011

Assigned J-1+ to MSNW Trust Certificate Series 11020

Assigned J-1 rating to Aso Shoji Bills Receivable ABL11-02

Affirmed A+/Stable rating on senior debts of Obayashi

Affirmed BBB+/Stable and BBB+ on Shibusawa Warehouse

Affirmed A/Stable, A and preliminary A on Taisei Corporation

Affirmed A+p/Stable rating on senior debts of Shimizu Corporation

Affirmed AA+/Stable rating on senior debts of SECOM

Assigned A- rating to bonds of Tokyo Tatemono

Assigned BBB+/Stable to sr. debts of Maruzen Petrochemical

Affirmed AA/Stable on SECOM General Insurance

Feb. 24, 2011

Assigned J-1+ to A&D Bills Receivable Beneficial Interest 11-02

Assigned J-1 to Hyakugo Bank B Corporation Bills Receivable ABL11-02

Affirmed AA-p/Stable rating on senior debts of FamilyMart

Affirmed A- and J-1 on Sanyo Special Steel; Outlook Positive

JCR Affirmed AA+/Stable on senior debts of Seven-Eleven Japan

JCR Affirmed AA+/Stable rating on Seven & i Holdings

Assigned preliminary AA- rating to shelf reg. of Daibiru

Affirms AAA ratings on Australia: Outlook Stable

Placed ratings on CSK Corp. under Credit Monitor #BB+/Positive

Feb. 23, 2011

Assigned J-1 to Medical Fees Receivable ABL11-02 (M Hospital)

Assigned J-1 to dispensing fees ABL11-02 (Nanba Pharmacy)

Affirmed BBB+/Stable on senior debts of Yamazen

JCR Assigned pre. AA- rating to bonds of Nomura Europe Finance

Affirms BBB+ Ratings (FC/LC) on Indian Railway Finance; Outlook Stable

Feb. 22, 2011

Assigned J-1 to Medical Fees Receivable ABL11-02 (H Hospital)

Assigned J-1 to Medical Fees Receivable ABL11-02 (J Hospital)

Affirmed A+/Stable rating on Oita Bank

Affirmed A and J-1 on Lintec; Revised outlook to Positive

Feb. 21, 2011

Assigned J-3 to Monthly Clear Card Shopping Receivable ABL11-02

Assigned preliminary J-1+ to MSNW Trust Certificate Series 11020

Assigned pre.J-1 to Hyakugo Bank B Corporation Bills Receivable ABL11-02

Assigned J-1 to Medical Fees Receivable ABL11-02 (F Hospital)

Assigned J-1 to Medical Fees Receivable ABL11-02 (L Hospital)

Assigned J-1 to Medical Fees Receivable ABL11-02 (H Hospital)

Assigned J-3 to Narasaki Stax Accounts Receivable ABL11-02

Assigned J-1 to Medical Fees Receivable ABL11-02 (Asahikawa Sanai Hospital)

Assigned Pre. J-1+ to Takeda General Hospital Beneficial Interest 11-03

Assigned preliminary A rating to shelf reg. of Takara Holdings

Affirmed A- on Okamura Corporation; Revised outlook to Stable

Affirmed BBB+/Stable and BBB+ on Kowa Real Estate

Affirmed A/Stable and A- on Shimizu Bank

Affirms BB ratings (FC/LC) on Turkey; Outlook Stable

Affirmed BBB+ on San-Ai Oil; Revised outlook to Positive

Affirmed A- rating on Itochu Enex; Revised outlook to Positive

Feb. 18, 2011

Assigned J-1+ to JUTEC Bills Receivable ABL11-02

Assigned J-1 to Medical Fees Receivable ABL11-02 (I Hospital)

Affirmed A/Stable rating on senior debts of Japan Net Bank

Affirmed BBB+/Stable and BBB+ on Makino Milling Machine

Assigned A rating to bonds of Orix Corporation

Assigned AA- to subordinated bonds of Tokyo-Mitsubishi UFJ

Affirmed AAp/Negative on senior debts of Sharp Corporation

Feb. 17, 2011

Assigned pre. J-1 rating to Aso Shoji Bills Receivable ABL11-02

Assigned J-1 to Medical Fees Receivable ABL11-02 (Kyowakai)

Assigned J-1 to Medical Fees Receivable ABL11-02 (K Hospital)

Revised rating on Softbank to A-/Stable, A-, pre. A- and J-1

Affirmed AA/Stable on Daiwa House

Assigned A- rating to bonds of Phoenix JT Limited

Revised rating on Softbank Telecom Corp. to A-/Stable

Assigned AA rating to bonds of Urban Renaissance Agency

Assigned AAA rating to bonds of Electric Power Development

Feb. 16, 2011

Assigned J-1 to Dispensing Fees Receivable ABL11-02 (sun-kur)

Assigned J-1+ to Takeda General Hospital Beneficial Interest 11-02

Assigned J-1 to Medical Fees Receivable ABL11-02 (E Hospital)

Assigned AA rating to bonds of Kansai International Airport

Affirmed AA/Stable and AA on Sumitomo Wiring Systems

Affirmed AA/Stable, AA, Pre. AA & J-1+ on Sumitomo Electric Industries

Revised rating on Aica Kogyo from A-/Stable to A/Stable

Affirmed AA-/Stable and AA- on Tokai Rubber Industries

Affirmed AA/Stable and AA on sr.debts and bonds of Urban Renaissance Agency

Assigned AA rating to bonds of MORI TRUST Sogo Reit

Affirmed J-1+ on CP of Toyota Motor

Affirms AAA Ratings on United Kingdom; Outlook Stable