News Release

Sep. 19, 2023: Change in Maximum Amount of Joint EMTN Program of Mizuho Securities and Mizuho International; Affirmed AA; JCR Assigned AA- to Libra A Limited Tokyo Branch Series 162; JCR Assigned AA- to Ganymede Limited Series 2023-144; JCR Assigned #AA-/Negative to SPARC Limited Series 2023-04

Sep. 15, 2023: JCR Assigned AA/Stable Long-term Issuer Rating to Eurus Energy HD; JCR Upgraded Long-term Issuer Rating on Hitachi Zosen to A-/Stable; JCR Affirmed A-/Stable Long-term Issuer Rating on Kanamoto; JCR Affirmed A-/Stable Long-term Issuer Rating on Mazda Motor; JCR Affirmed A-/Stable Long-term Issuer Rating on Medical Corporation KEIAIKAI; JCR Assigned A Rating to Bonds of Hokuetsu Corporation; JCR Assigned Preliminary AA- to Securitization of Leases Receivable from SB 202309; JCR Assigned Preliminary AA- to Securitization of Loans Receivable from SB 202309; JCR Assigned SU1(F) to Sustainability Finance Framework by Mori Trust Holdings; JCR Reviewed Bonds no.3 of GPSS Holdings; JCR Reviewed Bonds no.4 of GPSS Holdings; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to HIGUCHI; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to Daybreak; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to ideta sangyo; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Joyo Bank to Itabashigumi; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Nishi-Nippon City Bank to YAMAGUCHI HEAVY INDUSTRIES; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Ashikaga Bank to TOCHIGI SEIKO

Sep. 14, 2023: SoftBank Group's Subsidiary Arm to Be Listed - Arm's Future Growth Strategies Will Be Watched; JCR Upgraded Long-term Issuer Rating on JCOM to AA-/Stable; JCR Affirmed BBB/Stable Long-term Issuer Rating on Scroll; JCR Affirmed A-/Stable Long-term Issuer Rating on Procrea HD, Aomori Bank and MICHINOKU BANK; JCR Assigned AA- Rating to Bonds of Kyushu Electric Power; JCR Assigned A Rating to Bonds of Invincible Investment Corporation; JCR Assigned Preliminary A+ Rating to Shelf Registration of Pan Pacific International HD; JCR Provided a Third Party Opinion on Sustainability Linked Finance Framework Composed by ORIX JREIT

Sep. 13, 2023: JCR Assigned AA-/Stable FC Long-term Issuer Rating to Frasers Property; JCR Affirmed A+/Stable Long-term Issuer Rating on One REIT; JCR Assigned A Rating to Subordinated Bonds of ENEOS HD; JCR Assigned AA Rating to Bonds of Japan Metropolitan Fund Investment Corporation; JCR Assigned A+ Rating to Bonds of Hoshino Resorts REIT; JCR Assigned Preliminary AA to Long-term Issue Rating of Suzuran Credit Service LLC; JCR Assigned Preliminary AA to Long-term Issue Rating of Green Credit Service LLC

Sep. 12, 2023: JCR Affirmed A-/Stable Long-term Issuer Rating on NS UNITED KAIUN; JCR Assigned A+ Rating to Bonds of JGC HD

Sep. 11, 2023: JCR Affirmed BBB+/Stable Long-term Issuer Rating on Chikuho Bank; JCR Assigned SU 1(F) and Provided a Third Party Opinion on Suitability for the Sustainability-Linked Bond Principles and Sustainability-Linked Loan Principles to Sustainable Finance Framework of Fuyo General Lease