News Release

Sep. 11, 2026: JCR Assigned Preliminary A- Rating to Shelf Registration of Central Glass; JCR Downgraded Long-term Issuer Rating on Hanwha Solutions to A-/Stable; Withdraws A- (FC); JCR Assigned Preliminary A Rating to Loan of Ishikari Biomass Power GK; Joint Green Bond Issuers (Local Governments): Assigned Green 1 to Joint Local Government Green Bond 8th; ORIX JREIT, Sumitomo Mitsui Trust Bank: Second Opinion on Positive Impact Assessment; Carifood, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; SYOGUN　JAPN, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; MORI-FLOCKY, The Chugoku Bank: Second Opinion on Positive Impact Finance

Sep. 10, 2026: JCR Downgraded FC Long-term Issuer Rating on Lotte Chemical to A-/Stable; JCR Affirmed BBB-/Stable Long-term Issuer Rating on Jimoto HD, Kirayaka Bank and SENDAI BANK; JCR Affirmed A+/Stable Long-term Issuer Rating on KYOTO CHUO SHINKIN BANK; JCR Affirmed BBB+/Stable Long-term Issuer Rating on Chikuho Bank; JCR Affirmed AAA/Stable Long-term Issuer Rating on Arab Bank for Economic Development in Africa; JCR Affirmed A-/Stable (FC) and A/Stable (LC) on Oriental Republic of Uruguay; JCR Assigned AA Rating to Bonds of TOKYU; JCR Assigned AAA Rating to Bonds of East Nippon Expressway; Results of Review of Structured Finance Products (Excluding Those to Which Credit Ratings Are Assigned) August 2026; novis, The Nanto Bank: Second Opinion on Positive Impact Finance; SANKI UNSO, Aomori Michinoku Bank: Second Opinion on Positive Impact Finance

Sep. 09, 2026: JCR Affirmed AA/Stable and J-1+ on Mitsubishi Heavy Industries; JCR Assigned AA- Rating to Bonds of JFE HD; JCR Assigned Preliminary A Rating to Loan of Asahi Mutual Life Insurance; JCR Assigned Preliminary A to Bonds of Asahi Life 1st Senior Loan Securitization Company Limited

Sep. 08, 2026: JCR Affirmed A/Stable Long-term Issuer Rating on Hokuetsu Corporation; JCR Affirmed A-/Stable and J-1 on Yanmar HD; JCR Affirmed BBB+/Stable Long-term Issuer Rating on OKASAN SECURITIES GROUP and OKASAN SECURITIES; JCR Affirmed #A-/Positive on Chiba Kogyo Bank; Continues Credit Monitor; JCR Affirmed BBB+/Stable and J-2 on Tokai Tokyo Financial HD and BBB+/Stable on Tokai Tokyo Securities; JCR Assigned A+ Rating to Subordinated Loan of NIPPON STEEL

Sep. 07, 2026: JCR Affirmed A-/Stable Long-term Issuer Rating on APA HD; JCR Affirmed A+ and J-1 on Marubeni-Itochu Steel; Revised Outlook to Positive; JCR's Rating Review of Three Major Oil Distributors; JCR Affirmed A+/Stable and J-1 on Idemitsu Credit; OKUMURA CORPORATION: Assigned Social Finance Framework Evaluation: Social 1(F)

Sep. 04, 2026: JCR Assigned A-/Stable Long-term Issuer Rating to Nisshin Private Residential Reit; JCR Affirmed A/Stable Long-term Issuer Rating on KATO SANGYO; JCR Affirmed A-/Stable Long-term Issuer Rating on KOHNAN SHOJI; JCR Affirmed A (FC/LC) on Hongkong and Shanghai Hotels, Revised Outlook to Positive; Affirmed A on Bonds of Peninsula Tokyo Finance Services; JCR Assigned A Rating to Subordinated Bonds of Sumitomo Forestry; JCR Assigned AA+ Rating to Bonds of Electric Power Development; JCR Assigned A Rating to Bonds of GS Yuasa; JCR Assigned A Rating to Bonds of SoftBank Group; JCR Assigned AA Rating to Bonds of Tohoku Electric Power; JCR Assigned AA- Rating to Bonds of TOYODA GOSEI; JCR Assigned A Rating to Bonds of JAPAN NUCLEAR FUEL; JCR Assigned A Rating to Bonds of HANWA; JCR Assigned AA- Rating to Bonds of Hokkaido Electric Power; Tanakakougei, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance

Sep. 03, 2026: JCR Upgraded FC/LC Long-term Issuer Rating on Export-Import Bank of India to A-/Stable; JCR Upgraded FC/LC Long-term Issuer Rating on Indian Railway Finance Corporation to A-/Stable; JCR Upgraded FC/LC Long-term Issuer Rating on REC to A-/Stable; JCR Upgraded FC/LC Long-term Issuer Rating on Housing and Urban Development Corporation to A-/Stable; JCR Affirmed A-/Stable FC Long-term Issuer Rating on Vena Global Group and Vena Energy Capital; JCR Affirmed A+/Stable Long-term Issuer Rating on One REIT; JCR Assigned A+ Rating to Bonds of HIKARI TSUSHIN; GS Yuasa Corporation: Assigned Green Finance Framework Evaluation: Green 1(F); Sunny Staff, The Joyo Bank: Second Party Opinion on Sustainability Linked Loan

Sep. 02, 2026: JCR Upgraded FC/LC Long-term Issuer Rating on India to A-/Stable; JCR Affirmed AA-/Stable Long-term Issuer Rating on Hulic Private Reit; JCR Assigned AA- Rating to Subordinated Loan of National Mutual Insurance Federation of Agricultural Cooperatives; JCR Assigned Preliminary A Rating to Shelf Registration of Kawasaki Heavy Industries; JCR Assigned AA- to Bonds of Zenkyoren 5th Subordinated Loan Securitization Company Limited; [ Asset Securitization Products ] JCR Affirmed J-3 on Next Funding ABL Program (Narasaki Stax); JCR Affirmed A (fp) Fund Portfolio Rating on Renewable Trust

Sep. 01, 2026: JCR Affirmed A-/Stable Long-term Issuer Rating on HEIWA REAL ESTATE; JCR Affirmed A+/Stable Long-term Issuer Rating on HORIBA; JCR Affirmed A+/Stable and J-1 on LINTEC; JCR Assigned Preliminary AA- Rating to Shelf Registration of SAIBU GAS HD; JCR Assigned Preliminary AA- Rating to Shelf Registration of Meiji HD; JCR Assigned AA+ to Corsair Finance Jersey Limited Series 289; Sumitomo Mitsui Trust Bank: Evaluation of Conformity of Future Trust Framework

Aug. 31, 2026: JCR Affirmed A- Rating on Bonds of Muninova HD; JCR Affirmed BBB/Stable Long-term Issuer Rating on Minami-Nippon Bank; JCR Assigned Preliminary A+ Rating to Subordinated Bonds of Tokyo Century; JCR Assigned A+ Rating to Subordinated Loan of Suntory HD; JCR Assigned A Rating to Subordinated Loan of Sumitomo Forestry; [ Asset Securitization Products ] JCR Assigned BBB to IDOM202608; JCR Affirmed A+ on Beneficial Interest and ABL of Securitization of Loans Receivable; OKUMURA: Post-execution Verification Report on Sustainability Linked Loan; NIPPON THOMPSON: Post-issuance Verification Report on Sustainability Linked Bond; Mizuho Leasing: Post-execution Verification Report on Sustainability Linked Loan/Bond; SAN-ESU ENGINEERING , Aomori Michinoku Bank: Second Opinion on Positive Impact Finance; KAWASHO HOUSE, The Kumamoto Bank: Second Opinion on Positive Impact Finance; MIZUNO KENSETSU, THE SHIMIZU BANK: Second Opinion on Positive Impact Finance; Astep, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; umedu, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; Takasaki Clean, The Joyo Bank: Second Opinion on Positive Impact Finance; SYLA HOLDINGS, The Chiba Bank: Second Opinion on Positive Impact Assessment; Nihon Bronze, The Chiba Bank: Second Opinion on Positive Impact Finance; SOLBA, The Hyakugo Bank: Second Opinion on Positive Impact Finance

Aug. 28, 2026: JCR Affirmed BBB/Stable Long-term Issuer Rating on TOYO KANETSU; JCR Affirmed BBB+/Stable Long-term Issuer Rating on Nippon Yakin Kogyo; JCR Affirmed BBB/Stable Long-term Issuer Rating on FUKUSHIMA BANK; JCR Affirmed A-/Stable (FC/LC) on Philippines; JCR Assigned A Rating to Bonds of Kawasaki Kisen; JCR Assigned AA- Rating to Bonds (Tier 2 with loss absorption clause) of Sumitomo Mitsui Trust Group; JCR Assigned AA Rating to Bonds of Mitsubishi HC Capital; JCR Assigned A- Rating to Bonds of Mexico; Change in CP Maximum Amount of AEON Housing Loan Service; Affirmed J-1; [ Asset Securitization Products ] JCR Assigned AA- to Ascent Finance Limited Series 2026-1030

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