News Release

Jul. 25, 2008: Affirmed A/Stable and J-1 on sr.debts and CP of Yokohama Rubber; Downgraded senior debts of Bank of Kochi to BBB; Affirms A- (FC) Ratings on Hyundai Capital Services; Outlook Positive; Assigned AAA to bonds of Development Bank of Japan; Affirmed BBB/Stable on senior debts of Biwako Bank; Affirmed AAp Rating on BNP Paribas

Jul. 23, 2008: Assigned J-1 to healthcare fees ABL08-07 (Asahikawa Sanai HP); Assigned J-1 to dispensing fees receivable ABL08-07 (sun-kur Corporation); Assigned J-1 to healthcare fees ABL08-07 (D Hospital); Affirmed AA+ Ratings on The Province of Quebec with stable outlook; Assigned A- to bonds (gtd. by Hankyu & Hanshin Electric Railway) of Hankyu Hanshin Holdings; Downgraded Sankyo-Tateyama Holdings to BBB-; Changed outlook to Stable

Jul. 22, 2008: Assigned J-1 to healthcare fees receivable ABL08-07 (C Hospital); Assigned A-/Stable to sr. debts of Kyodo Leasing; Downgraded Goodwill Group to #B+/Negative; Continues CM; Removed from CM and upgraded rating for Cosmo Securities to BBB/Stable; Affirmed BBB/Stable on senior debts of Toho

Jul. 18, 2008: Assigned preliminary AAA to shelf registration of Kyushu Electric Power Company; Assigned BBB to bonds of Sojitz; Affirmed A+/Stable on senior debts of Nidec; Affirmed A- rating/Stable on Makino Milling Machine; Assigned A- to bonds of Makino Milling Machine; Downgraded ratings on Zephyr to D

Jul. 17, 2008: Assigned J-1 to healthcare fees ABL08-07 (F Hospital); Assigned J-1 to Kurashiki Medical Center Trust Certificates 08-07; Assigned A+ to bonds of Kobe Steel; Assigned preliminary AA- to subordinated bonds of Bank of Tokyo-Mitsubishi UFJ

Jul. 16, 2008: Assigned J-1 to healthcare fees ABL08-07 (E Hospital); Assigned J-1 to healthcare fees receivable ABL08-07 (Shuyukai); Assigned J-1 to healthcare fees receivable ABL08-07 (Kyowakai); Assigned J-1 to healthcare fees receivable ABL08-07 (A Hospital); Placed rating on Medca Japan under Credit Monitor #BB-(Negative); Downgraded ratings on Zephyr to #B+/Negative; Assigned AAA to bonds of Tokyo Electric Power Company

Jul. 15, 2008: Assigned J-1+ to Takeda Gen. Hospital Trust Certificates 08-07; Affirmed A- for Kato Sangyo; Changed Outlook to Stable; Affirmed A+/Stable on sr.debts of First Credit

Jul. 14, 2008: Affirmed AA-/Positive on sr.debts of Suntory; Affirmed BBB+/Stable on sr.debts of Pacific Golf Group International Holdings; Assigned preliminary A to shelf registration of Taiyo Nippon Sanso; Assigned preliminary AA to shelf registration of Kansai International Airport; JCR Affirmed AA- on EMTN of Suntory
JCR Affirmed AA- on EMTN of SUNTORY EUROPE
JCR Affirmed AA- on EMTN of SUNTORY CAPITAL; JCR Placed ratings on Shinsei Bank under Credit Monitor #A/Developing
JCR Placed ratings on Showa Leasing under Credit Monitor #A-/Developing and #J-1/Developing
JCR Placed ratings on Shinki under Credit Monitor #BBB-/Developing and #J-2/Developing; Withdrawn preliminary A rating on shelf of Fuyo General Lease

Jul. 11, 2008: Assigned J-1 to healthcare fees receivable ABL08-07 (B Hospital); Assigned AA- to bonds of Odakyu Electric Railway; JCR Affirmed A- and BBB+ for Tokyo Tomin Bank and Changed outlook to Stable
JCR Affirmed BBB+ and BBB for Tokyo Tomin Finance (Cayman); JCR Affirmed BBB+/Stable and BBB+ on Monex Group
JCR Affirmed BBB+/Stable and J-2 on Monex; Assigned AA- to bonds of Mizuho Corporate Bank

Jul. 10, 2008: Assigned AA to bonds of Bank of Tokyo-Mitsubishi UFJ; Assigned AA- to bonds of Sumitomo Mitsui Banking

Jul. 09, 2008: Assigned J-1 to Nohara Bills Receivable ABL08-07; Affirmed BBB+/Stable on senior debts of Accordia Golf; Withdrawn NJ rating on domestic CP program of Zephyr; Affirmed BBB- on sr.debts of Keiyo; Changed Outlook to Positive

Jul. 08, 2008: Affirmed J-2 on CP of Mitsui Engineering & Shipbuilding; Affirmed A+/Stable on sr.debts of Mitsubishi Rayon

Jul. 07, 2008: JCR Removed CM; Affirmed BBB/Stable on SBI Holdings
JCR Removed CM; Downgraded Rating on SBI Securities from #BBB+/Negative to BBB/Stable
JCR Removed CM; Affirmed BBB-/Stable on SBI Mortgage; Affirmed J-2 on CP of Asax; Assigned preliminary A+ to shelf registration of Kobe Steel; Affirmed BBB+ on Sanyo Electric; Revised Outlook to Stable

Jul. 04, 2008: Affirmed A/Stable and J-1 on sr.debts and CP of Kagome; Assigned AA+ to bonds of Osaka (City of); Assigned AAA to bonds of Japan Finance Corporation for Small and Medium Enterprise; Assigned preliminary A- to shelf registration of Hankyu Hanshin Holdings; Assigned AAA to bonds of Tokyo Electric Power Company; Comments on LS Cable's Corporate Reorganization; Affirms AAA Rating on Export Development Canada (EDC); Outlook Stable; Affirmed A- on Gifu Shinkin Bank; Revised Outlook to Negative

Jul. 03, 2008: Upgraded Tokyo Dome to BBB-/Stable and J-2; Affirmed A/Stable on senior debts of OSG Corporation

Jul. 01, 2008: Assigned preliminary AA+ to shelf registration of NTT Data; Affirmed J-1+ rating on CP program of NTT Finance; Downgraded Arisawa from A-/Negative to BBB+/Stable; JCR Withdrawn J-1+ ratings on CP of NTT DoCoMo's regional subsidiaries

Jun. 30, 2008: Assigned AA- to loans/leases receivable from Softbank Mobile; Assigned J-1+ to Teral Kyokuto Bills Receivable ABL08-06; Assigned J-1 to Toda Kogyo Bills Receivable ABL08-06; Assigned J-1 to Hayakawa Rubber Bills Receivable ABL08-06 (2); Downgraded sr.debts of Paris Miki to A-/Stable from A/Stable; Withdrawn J-1+ on CP of Keio; Assigned preliminary AA-/A+/A to shelf of Sumitomo Mitsui Banking

Jun. 27, 2008: Assigned J-1 to Aso Shoji Bills Receivable ABL08-06; Assigned J-1 to Kimura Bills Receivable ABL08-06; Assigned J-1 to A&D Bills Receivable Trust Certificates; Assigned J-1 to Nippon Tungsten Bills Receivable ABL08-06; Withdrawn preliminary #B+ rating on shelf reg. of Zephyr

Jun. 26, 2008: Assigned J-1 to Osaka Steel Tube Bills Receivable ABL08-06; Assigned J-1 to Bills Receivable ABL08-06 (B Corporation in Mie); Assigned J-1 to SEIBUKIZAI Bills Receivable ABL08-06; Affirmed BBB+/Stable on sr.debts of Matsui Securities; Downgraded sr.debts of Daido Fire & Marine Insurance to A-/Stable

Jun. 25, 2008: Assigned pre. AA-/AAA to trust certificates of PFI; Assigned J-1+ to MSNW Trust Certificate Series 08060; Assigned J-1 to Bills Receivable ABL08-06 (A Corporation in Aichi); Assigned pre. AA-/AAA to loans of PFI; Assigned J-1 to Nakagawa Seitaikako Bills Receivable ABL08-06; Assigned AA+ to bonds of Japan Student Services

Jun. 24, 2008: Affirmed A-/Stable rating on sr.debts of Ehime Bank; Assigned J-2 to CP of Shinsho Corporation

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