News Release

Sep. 08, 2008: Assigned AA to bonds of Nomura Holdings; Placed ratings on Acom under CM Positive; Placed ratings on Joint Corporation under CM Developing; Placed rating on Japan Asia Investment under CM Negative

Sep. 05, 2008: Assigned J-1 to Hayakawa Rubber Bills Receivable ABL08-09; Affirmed BBB on senior debts of Culture Convenience Club; Revised Outlook to Positive; Assigned A to bonds; Affirmed A/Stable on Mitsui-Soko; Affirmed A-/Stable on sr.debts of Michinoku Bank; Downgraded rating on sr.debts of Oji Paper to A+p/Stable; Affirmed Ap/Stable on senior debts of Hitachi Software Engineering; Affirmed A- on Kintetsu; Revised Outlook to Negative from Stable; Assigned A+ to bonds of Nishi-Nippon Railroad; Assigned AA to bonds of Urban Renaissance Agency; Assigned AAA to bonds of Chugoku Electric Power; Assigned AA- to bonds of Mitsubishi UFJ Lease & Finance

Sep. 04, 2008: JCR Affirmed A+ on EMTN of ITOCHU
JCR Affirmed A+ on EMTN of ITOCHU International
JCR Affirmed A+ on EMTN of ITOCHU Finance (Europe)
JCR Assigned A+ on EMTN to ITOCHU Treasury Centre Asia; Affirmed A-/Stable on sr.debts of Tosoh; Assigned AAA to bonds of Kansai Electric Power; Assigned AAA to bonds of Tokyo Electric Power; Assigned AAA to bonds of Chugoku Electric Power; Assigned AA to bonds of Kansai International Airport

Sep. 03, 2008: Upgraded sr.debts of Keiyo Bank to A+/Stable from A/Positive; Assigned A- to bonds of Nagoya Railroad

Aug. 29, 2008: Assigned J-1+ to JUTEC Bills Receivable ABL08-08; Assigned J-1+ to Teral Kyokuto Bills Receivable ABL08-08; Assigned J-1 to Toda Kogyo Bills Receivable ABL08-08; Assigned J-1 to Molten Bills Receivable ABL08-08; Assigned preliminary A- to shelf registration of Tokyo Tatemono; Withdrawn #J-2/Positive rating on CP of Tokyu Store Chain; JCR Affirmed A+/Stable on senior debts of Nippon Paper Group
JCR Affirmed A+/Stable on senior debts of Nippon Paper Industries; Affirmed A-/Stable and J-1 on Nippon Mining Holdings; Affirms BBB+ (FC) Rating on ICICI Bank; Outlook Stable

Aug. 28, 2008: Assigned J-1 to Bills Receivable ABL08-08 (B Corporation in Mie); Assigned J-1 to Aso Shoji Bills Receivable ABL08-08; Assigned AAA to ABL on auto leases receivable; Assigned J-1 to Nippon Tungsten Bills Receivable ABL08-08; Assigned preliminary AA- to shelf registration of Toyota Tsusho; Assigned AA to bonds of JFE Holdings; Assigned A+/Stable rating to Mitsubishi Jyuko Kankyo Engineering; Affirmed AA-/Stable on sr.debts of Mitsubishi Heavy Industries; Assigned preliminary AA- to shelf registration of Saibu Gas; Affirmed BBB- on Japan General Estate; Revised outlook to Negative

Aug. 27, 2008: Assigned J-1 to Osaka Steel Tube Bills Receivable ABL08-08; Assigned AA- to bonds of Orix; Assigned AA to bonds of Nippon Steel; Affirmed A-/Stable and J-1 on sr.debts and CP of Idemitsu Kosan; Affirmed A+/Stable and J-1 on sr.debts and CP of Gunze; JCR Assigned A+ to bonds of Daiwa Securities Group

Aug. 26, 2008: Affirmed BBB+/Stable and J-2 on Toyo Tire & Rubber; Affirmed A+/Stable on senior debts of Exedy; Affirmed A/Stable and J-1 on sr.debts and CP of BOT Lease; Upgraded rating on Kawasaki Heavy Industries to A/Stable

Aug. 25, 2008: Assigned J-1 to Bills Receivable ABL08-08 (A Corporation in Aichi); Assigned J-1 to Fuji Shokai Bills Receivable ABL08-08; Assigned J-1+ to MSNW Trust Certificate Series 08080; Affirmed AA/Stable rating on sr.debts of Sekisui House

Aug. 22, 2008: Assigned AA to ABL of PORT KOKOROZASHI, LLC; Affirmed BBB for Tamura Corporation; Revising outlook to Stable; Affirmed J-2 on CP program of Japan Radio; Affirmed A+/Stable on sr.debts of Shimadzu Corporation; Assigned AAA to bonds of Kyushu Electric Power; Assigned preliminary A- to shelf reg. of Minato Bank; Assigned A to bonds of Hiroshima Gas

Aug. 21, 2008: Assigned J-1 to healthcare fees ABL08-08 (Asahikawa Sanai HP); Assigned J-1 to healthcare fees ABL08-08 (D Hospital); Affirmed AA-/Stable on sr.debts of Coca-Cola West Holdings; Upgraded rating on Sogo Medical to BBB/Stable; Upgrades Slovakia's FC rating to A+/stable

Aug. 20, 2008: Assigned J-1 to healthcare fees ABL08-08 (C Hospital); Affirmed A/Stable rating on sr.debts of Taiko Bank

Aug. 19, 2008: Assigned preliminary AA to specified bond of Nissay 2008 Fund SPC; Affirms BBB+ (FC/LC) Ratings on Export-Import Bank of India; Outlook Stable; Affirms BBB+ (FC/LC) Ratings on Republic of India; Outlook Stable

Aug. 18, 2008: Assigned J-1 to Kurashiki Medical Center Trust Certificates 08-08; Assigned J-1 to healthcare fees receivable ABL08-08 (Shuyukai); Assigned J-1 to dispensing fees ABL08-08 (sun-kur Corporation); Assigned J-1 to healthcare fees ABL08-08 (E Hospital); Assigned preliminary AA to specified bond of Nissay 2008 Fund SPC; Affirmed AA+p/Stable on sr.debts of Nippon Life Insurance

Aug. 14, 2008: Assigned J-1+ to Takeda Gen. Hospital Trust Certificates 08-08; Assigned J-1 to healthcare fees receivable ABL08-08 (Kyowakai); Affirmed A+/Stable on sr.debts of JSF Trust & Banking; Affirmed AA-/Stable and J-1+ on sr.debts and CP of Japan Securities Finance

Aug. 13, 2008: Assigned J-1 to healthcare fees receivable ABL08-08 (A Hospital); Downgraded ratings on Urban to D

Aug. 12, 2008: Assigned J-1 to healthcare fees receivable ABL08-08 (B Hospital); Affirmed BBB/Stable on sr.debts of Japan Asia Investment

Aug. 11, 2008: Assigned J-1 to Hayakawa Rubber Bills Receivable ABL08-08; JCR Affirmed AA- on EMTN of ORIX
JCR Affirmed AA- on EMTN of ORIX AUSTRALIA (SECURITIES)
JCR Affirmed AA- on EMTN of ORIX (CARIBBEAN)
JCR Affirmed AA- on EMTN of ORIX USA; Affirmed A/Stable and J-1 on senior debts and CP of Heiwado; Affirmed A+/Stable on sr. debts of Sumitomo Metal Mining

Aug. 08, 2008: Assigned J-1 to Nohara Bills Receivable ABL08-08; JCR Affirmed BB/Stable, BB- and J-3 on Mitsubishi Motors
JCR Affirmed BB- on Mitsubishi Motors Credit of America
JCR Affirmed BB- on MMC International Finance Netherlands; Assigned preliminary AAA to shelf of Kansai Electric Power Company

Aug. 07, 2008: Affirmed A/Stable on sr.debts of Mitsui Mining & Smelting; Assigned A/Stable rating to sr.debts of Yodogawa Christian Hospital; Affirms BBB+/A- FC/LC Ratings on Bulgaria

Release Information: News Release; Issuer Reports; Reports relating to Issuer; JCR News