News Release

Jul. 31, 2024

JCR Provided a Post-issuance Verification Report to 141st Unsecured Bonds (Sustainability Linked Bonds) Issued by MITSUBISHI ESTATE

JCR Provided a Second Opinion to Positive Impact Finance Provided by The Bank of Kyoto to IKUTA GROUP

JCR Provided a Second Opinion to Positive Impact Finance Provided by 33 Bank to kobayashi Transit

JCR Provided a Second Opinion to Positive Impact Finance Provided by THE SHIMIZU BANK to HANSHIN DENKI

JCR Provided a Second Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to KOTOBUKI

JCR Provided a Second Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to Shouwa Shoji

JCR Provided a Second Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to DAIKYO

JCR Provided a Second Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to Fuji Seihan Printing

JCR Provided a Second Opinion to Positive Impact Finance Provided by The Nishi-Nippon City Bank to IKEDA PAPER-WERE

JCR Provided a Second Opinion to Positive Impact Finance Provided by THE HOKURIKU BANK to Shimadashouten

Jul. 30, 2024

JCR Upgraded Long-term Issuer Rating on ROYAL HD to BBB/Positive

JCR Affirmed BBB+ Long-term Issuer Rating on HOSOKAWA MICRON; Revised Outlook to Positive

JCR Affirmed BBB+/Stable Long-term Issuer Rating on Tsukuba Bank

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL 24-07

JCR Assigned A- to Azusa Limited Series 525

JCR Affirmed AA Rating on Icho Credit Service LLC

JCR Reviewed Green Finance Framework of Tosei Reit Investment

Jul. 29, 2024

JCR Upgraded Long-term Issuer Rating on MITSUI-SOKO HD to A+/Stable

JCR's Rating Review of Electric Power Companies

JCR Assigned BBB+ Rating to Subordinated Loan of Resonac HD

JCR Assigned AA- Rating to Subordinated Loan of Nippon Life Insurance

JCR Assigned AA- Rating to Bonds of Nissay 9th Subordinated Loan Securitization Company Limited

JCR Assigned AA- to Ascent Finance Limited Series 2024-1005

JCR Provided a Second Opinion to Positive Impact Finance Provided by The Nanto Bank to NANKAI SUZUKI

Jul. 26, 2024

JCR Affirmed BBB+ Long-term Issuer Rating on FUJIKURA KASEI; Revised Outlook to Stable

JCR Affirmed A-/Stable and J-1 on Central Glass

JCR Assigned Preliminary AA- and Preliminary A Ratings to Shelf Registration of Sumitomo Mitsui Trust HD

JCR Assigned Preliminary A- Rating to Shelf Registration of TSUKISHIMA HD

JCR Assigned Green 1(F) to Green Finance Framework of marimo Regional Revitalization REIT

JCR Provided a Second Opinion to Positive Impact Finance Provided by The Ashikaga Bank to BRIDGESTONE TIRE TOCHIGI SALES

JCR Provided a Second Opinion to Positive Impact Finance Provided by The Joyo Bank to Ibaraki Transportation

Jul. 25, 2024

JCR Affirmed A+/Stable Long-term Issuer Rating on FUKUYAMA TRANSPORTING

JCR Affirmed A-/Negative and J-1 on Rakuten Group

JCR Affirmed A-/Negative Long-term Issuer Rating on Rakuten Group's FinTech Subsidiaries

JCR Assigned A- Rating to Bonds of Mazda Motor

JCR Assigned AAA Rating to Bonds of West Nippon Expressway

JCR Assigned Preliminary A Rating to Shelf Registration of SoftBank Group

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to PERCS-C

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL 24-07 (D Hospital)

JCR Assigned AA- to SPIRE SA Series 2024-203

Jul. 24, 2024

Sanken Electric Announced Partial Share Sale in Allegro—Financial Impact and Future Performance Direction to be Confirmed and Reflected in Rating

JCR Affirmed A Long-term Issuer Rating on TOBU RAILWAY; Revised Outlook to Positive

JCR Affirmed A+/Stable Long-term Issuer Rating on Nishi-Nippon Railroad

JCR Assigned A Rating to Bonds (Tier 1 with loss absorption clause) of Mizuho Financial Group

JCR Assigned AA Rating to Bonds of Tokyo Century

JCR Assigned Preliminary AA- Rating to Shelf Registration of Fuyo General Lease

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL 24-07

JCR Assigned A+ Rating to Sylph Limited Series 10270

JCR Assigned AA- to SPIRE SA Series 2024-310

JCR Assigned AA Rating to Libra A Limited Series C088

Jul. 23, 2024

Yokohama Rubber to Acquire Goodyear’s Off-the-Road Tire Business—Watch for Medium-Term Synergies and Financial Improvement

JCR Assigned A+/Stable Long-term Issuer Rating to SANKEI REAL ESTATE

JCR Assigned A-/Stable (FC/LC) to Berli Jucker

JCR Affirmed A/Stable and J-1 on Tokyo Electric Power Company HD; Affirmed A/Stable Long-term Issuer Rating on TEPCO Power Grid, TEPCO Renewable Power and TEPCO Energy Partner

JCR Affirmed AA/Stable Long-term Issuer Rating on AEON REIT Investment Corporation

JCR Assigned Preliminary A+ Rating to Shelf Registration of Daiwa Securities Group

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL 24-07

JCR Assigned Green 1(F) to Green Bond Framework of KUREHA

Jul. 22, 2024

JCR Affirmed BBB+/Stable Long-term Issuer Rating on TOMATO BANK

JCR Affirmed AAA/Stable FC Long-term Issuer Rating on Quebec

JCR Reviewed Green Finance Framework of NIPPON ACCOMMODATIONS FUND

JCR Reviewed Green Loan Framework of Mitsui & Co., Private REIT

Jul. 19, 2024

JCR Affirmed A Long-term Issuer Rating on Takara Leben Real Estate Investment Corporation; Revised Outlook to Positive

Change in CP Maximum Amount of Denka; Affirmed J-1

JCR Affirmed A+/Stable and J-1 on LINTEC

JCR Assigned BBB+ Rating to Bonds of Kintetsu Group HD

JCR Assigned A+ Rating to Bonds of YOKOHAMA MINATOMIRAI RAILWAY

JCR Assigned A- Rating to Bonds of GMO internet group

JCR Assigned AA+ Rating to Bonds of DAIKIN INDUSTRIES

JCR Assigned AAA Rating to Bonds of Central Nippon Expressway

[ Asset Securitization Products ] JCR Assigned Preliminary A to Commitment Line of Trust ABCL (7346)

JCR Provided Second Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to Yamagen

JCR Reviewed Sustainability Finance Framework by United Urban Investment

JCR Withdraws BBB Long-term Issuer Rating on Scroll

Jul. 18, 2024

JCR Affirmed BBB+/Stable and J-2 on Daiei Real Estate & Development

JCR Affirmed AA-/Stable Long-term Issuer Rating on Fukuoka REIT Corporation

JCR Assigned A Rating to Bonds of KYUSHU LEASING SERVICE

JCR Assigned J-1 to eDirect Trust N4

JCR Assigned Green 1(T) to the 5-year Japan Climate Transition Bonds (2nd)

Jul. 17, 2024

JCR Removed Credit Monitor; Downgraded Rating on NAGATANIEN HD to BBB; Placed Stable Outlook

JCR Affirmed BBB+/Stable Long-term Issuer Rating on ISHIHARA SANGYO

JCR Affirmed A-/Stable and J-1 on NIPPON STEEL KOWA REAL ESTATE

[ Asset Securitization Products ] JCR Assigned Preliminary AAA to Beneficial Interest 202407

Jul. 16, 2024

JCR Downgraded FC Long-term Issuer Rating on Energy Absolute from BBB to #B/Negative; Placed Rating under Credit Monitor Negative

JCR Affirmed BBB+ Long-term Issuer Rating on APA HD; Revised Outlook to Positive

JCR's Rating Review of Money Market Brokers

JCR Affirmed A/Stable and J-1 on Central Tanshi

JCR Affirmed A/Stable and J-1 on Tokyo Tanshi

JCR Affirmed A/Stable and J-1 on Ueda Yagi Tanshi

JCR Affirmed A+/Stable Long-term Issuer Rating on Healthcare & Medical Investment Corporation

JCR Affirmed A on Ascent Finance Limited Series 2022-1006

JCR Provided a Second Opinion to Positive Impact Finance Provided by The Nishi-Nippon City Bank to YODO-KOGYO

JCR Reviewed Green Financing Framework of Star Asia Investment

Jul. 12, 2024

NEC Capital Solutions Forms Business Alliance with SBI Shinsei Bank Group—JCR Will Focus on Future Synergy Effects and Other Developments

JCR's Rating Review of Four Expressway Companies and Rating Assignment to Hanshin Expressway

JCR Upgraded Rating on UACJ to A-/Stable and J-1

JCR Affirmed A/Stable and J-1 on DIC

JCR's Rating Review of Major Non-Life Insurance Groups

JCR Affirmed AAA/Stable Long-term Issuer Rating on Tokio Marine HD; Affirmed AAA/Stable and J-1+ on Tokio Marine & Nichido Fire Insurance

JCR Affirmed AA+/Stable Long-term Issuer Rating on Sompo HD; Affirmed AA+/Stable and J-1+ on Sompo Japan Insurance