News Release

May. 22, 2007: Assigned BBB+ to bonds of Tokyo Tatemono; Assigned AAA to bonds of Development Bank of Japan

May. 18, 2007: Assigned J-1 to healthcare fees receivable ABL07-05 (A Hospital); Assigned J-1 to healthcare fees ABL07-05 (Heiwa & Konbu Onsen); Assigned J-1 to healthcare fees ABL07-05 (E Hospital); Removed CM and upgraded Hankyu Realty to A-/Stable; Removed CM and Downgraded Hanshin Electric Railway to A-; Removed CM and upgraded Hankyu Hanshin Holdings to A-/Stable and J-1; Assigned preliminary A to shelf registration of Yokohama Rubber; Assigned AA- to bonds of Orix; Assigned A+ to bonds of Nippon Paper Group; Affirmed BBB for Nankai Railway and Revised Outlook to Positive; Affirmed AA+/Stable on Toa Reinsurance; Placed rating on Nosan under Credit Monitor with Positive; Withdrawn J-2 rating on CP program of Aiful

May. 17, 2007: Assigned AAA to bonds of Tokyo Electric Power Company; Assigned AAA to bonds of Tokyo Electric Power Company; Assigned AAA to bonds of Japan Bank for International Cooperation

May. 16, 2007: Assigned A to bonds of Hokuetsu Paper Mills; Upgraded sr.debts of Sundrug to A and Revised outlook to Stable

May. 15, 2007: Assigned J-1 to healthcare fees receivable ABL07-05 (B Hospital); Assigned J-1 to healthcare fees receivable ABL07-05(Tokachinomori); Assigned J-1+ to Takeda Gen. Hospital Trust Certificates 07-05; Upgraded sr.debts of Kanto Denka Kogyo to BBB/Stable; Assigned BBB- to bonds of Kohnan Shoji; Affirmed BBB/Stable on sr.debts of Japan Asia Investment; Affirmed BBB-/Stable on sr.debts of Nichiwa Sangyo; Affirmed BBB+/Stable on sr.debts of Chubu Shiryo; Affirmed BBB+/Stable on sr.debts of Nosan Corporation; Assigned A+ to bonds of Sumitomo Metal Industries; Assigned preliminary AA- to shelf of Odakyu Electric Railway

May. 14, 2007: Assigned J-1+ to JUTEC Bills Receivable ABL07-05; Assigned AA- to Series 4 Synthetic CDO; Assigned J-1 to Healthcare Fees Receivable ABL07-05 (Ishii HP); Affirmed A-/Stable on sr.debts of Bank of The Ryukyus

May. 11, 2007: Assigned A+ to bonds of Itochu; Downgraded sr.debts of SSP to A-/Stable; Assigned AAA to bonds of National Life Finance Corporation; Affirmed A/Stable on sr.debts of Mitsui Mining & Smelting; Affirmed A for Bank of Okinawa and Revised outlook to Positive; Assigned AAA to bonds of Chugoku Electric Power; Affirmed AA/Stable on sr.debts of Sony Life Insurance; Affirmed J-2 on CP of Ichinen; Placed rating on Sumitomo Wiring Systems under CM with Positive direction; Placed rating on Towa Bank under Credit Monitor with Negative; Placed rating on Tohoku Misawa Homes under CM with Negative

May. 10, 2007: Affirmed A+/Stable on sr.debts of Kyoei Fire & Marine Insurance; Affirmed BBB+/Stable and J-2 on sr.debts and CP of Gecoss; Assigned AA-/Positive to sr.debts of Nippon Steel Engineering

May. 09, 2007: Assigned J-1 to Nohara Bills Receivable ABL07-05; Affirmed BBB-/Stable on sr.debts of Yamada Servicer Synthetic Office; Affirmed S3 Servicer Rating on Yamada Servicer Synthetic Office; Assigned AAA to bonds of Development Bank of Japan; Assigned AAA to bonds of Kansai Electric Power Company

May. 08, 2007: Affirmed A+/Stable on sr.debts of Daishi Bank; Assigned AA- to shelf of Mitsubishi UFJ Lease & Finance

May. 07, 2007: Assigned J-1 to Hayakawa Rubber Bills Receivable ABL07-05; Affirmed A/Stable on senior debts of Rohto; Affirmed A/Stable and A- on sr.debts and sub.bonds of Hokuetsu Bank; Upgraded sr.debts of Rasa Industries to BBB/Stable; Upgraded ratings for Heiwa Real Estate to A-/Stable

May. 02, 2007: JCR Downgraded Kirayaka HD to BBB/Stable
JCR Downgraded Shokusan Bank (Kirayaka Bank) to BBB/Stable
JCR Downgraded Yamagata Shiawase BK to BBB/Stable; Affirmed BBB+/Stable and J-2 on sr.debts and CP of Toshiba Finance; Affirmed BBB-/Stable on senior debts of Arysta LifeScience; JCR Placed Bank of Fukuoka under CM
JCR Placed Shinwa Bank under CM

May. 01, 2007: Affirmed A-/Stable and A- on sr.debts and bonds of Senko; Affirmed A/Stable on sr.debts of Paris Miki; Upgraded sr.debts of Sanyo Electric Railway to BBB/Stable; Removed CM and Upgraded rating for Orient Corporation to A-/Stable; Affirmed J-2 on CP of Toshiba Housing Loan Service; Affirmed BBB/Stable and J-2 on sr.debts and CP of Maruetsu

Apr. 27, 2007: Assigned J-1+ to Teral Kyokuto Bills Receivable ABL07-04; Assigned J-1 to Aso Shoji Bills Receivable ABL07-04; Assigned J-1 to Isuzu Motors Kyushu Bills Receivable Certificates; Assigned J-1 to Toda Kogyo Bills Receivable ABL07-04; Assigned J-1 to Molten Bills Receivable ABL07-04; Assigned J-1 to Bills Receivable ABL07-04 (B Corporation in Mie); Affirmed BBB+/Negative on senior debts of CAC Corporation; JCR Continues CM on NikkoCiti Trust and Banking with Positive direction
JCR Continues CM on Nikko Cordial Corporation with Positive direction
JCR Continues CM on Nikko Cordial Securities with Positive direction; Assigned BBB- to bonds of ES-CON Japan; Affirmed A on Nishi-Nippon Railroad and revised Outlook to Positive; Placed rating on CP of Central Finance under CM with Positive

Apr. 26, 2007: Assigned J-1 to MoonStar Bills Receivable ABL07-04; Assigned J-1 to Hayakawa Rubber Bills Receivable ABL07-04; Assigned A to bonds of Sumitomo Realty & Development; Assigned A+ to sub.bonds of Sumitomo Trust & Banking; Assigned A+ to bonds of Hiroshima Bank; Upgraded sr.debts of Horiba to A/Stable; Affirmed BBB-/Stable on sr.debts of Kohnan Shoji; Upgraded rating on DC from BBB-/stable to BBB/Stable; Withdrawn BBB+ and J-2 rating on sr.debts and CP of Life; Affirmed A-/Stable and J-1 on LT/ST sr.debts of Kyoto Shinkin Bank

Apr. 25, 2007: Assigned J-1+ to MSNW Trust Certificate Series 07040; Assigned J-1 to Osaka Steel Tube Bills Receivable ABL07-04; Assigned J-1 to healthcare fees ABL07-04 (Asahikawa Sanai HP); Assigned J-1 to healthcare fees ABL07-04 (D Hospital); Assigned J-1 to SEIBUKIZAI Bills Receivable ABL07-04; Assigned BBB+/Stable to sr.debts of Central Tanshi Online Trading

Apr. 24, 2007: Assigned J-1 to Bills Receivable ABL07-04 (A Corporation in Aichi)

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