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Sep. 30, 2025: FTF, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; NHP SOLUTION, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; Helios Net, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; WAYS, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; KURADASHI, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; Clover Cosmake, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; KM CLOTHING, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; SONIC FLOW, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; DAIKO, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; TRY International, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; GENKI-JAPAN, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; OGATA SHOUTEN, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; ISHIHARA-METAL MANUFACTYRING, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; DAIKO PRINTING, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; NDTC, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; FUJIUNSOU, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; entremets kumamoto KAJU, The Shoko Chukin Bank and The Kumamoto Dai-ichi Shinkin Bank: Second Opinion on Positive Impact Finance; KOZEN HONTEN, The Chiba Bank: Second Opinion on Positive Impact Finance; Machida HD, The Nanto Bank: Second Opinion on Positive Impact Finance; NAWAKENSETSU, The Nanto Bank: Second Opinion on Positive Impact Finance; YUDAI TRANSPORT, The Nanto Bank: Second Opinion on Positive Impact Finance; SHOEI MFG, The Nanto Bank: Second Opinion on Positive Impact Finance; TBM, The Hachijuni Bank: Second Opinion on Positive Impact Finance; Dearness, The Hokkaido Bank: Second Opinion on Positive Impact Finance; YAMATO KOGYO, The Hokkaido Bank: Second Opinion on Positive Impact Finance; Tonami Satellite communications Television, The Hokuriku Bank: Second Opinion on Positive Impact Finance; REMBRANDT HOLDINGS, The Yamanashi Chuo Bank: Second Opinion on Positive Impact Finance; Kagisan, The Bank of Yokohama: Second Opinion on Positive Impact Finance; KIJIMA, The Bank of Yokohama: Second Opinion on Positive Impact Finance

Sep. 29, 2025: JCR Placed Rating on Chiba Kogyo Bank under Credit Monitor #A-/Positive; JCR Affirmed A+/Stable and J-1 on Nippon Electric Glass; JCR Affirmed AA/Stable Long-term Issuer Rating on Activia Properties; JCR Assigned Preliminary BBB Rating to Subordinated Bonds of Rakuten Group; JCR Assigned Preliminary AA- Rating to Shelf Registration of Global One Real Estate Investment Corporation; [ Asset Securitization Products ] JCR Assigned Preliminary BBB to IDOM202511; JCR Assigned AA- Rating to Cypher Limited Series 30116; JCR Assigned AA- Rating to Cypher Limited Series 30117; JCR Assigned AA- Rating to Cypher Limited Series 30119; JCR Assigned AA- Rating to Cypher Limited Series 30121; JCR Assigned A to SPIRE SA Series 2025-248; ARC: Assigned Green Loan Framework Evaluation: Green 1(F); Kawasaki Kisen: Second Party Opinion on Transition Linked Finance Framework (Review)

Sep. 26, 2025: JCR Removed Credit Monitor; Upgraded Rating on Sumitomo Mitsui Construction to A+; Placed Stable Outlook; JCR Affirmed A- and J-1 on Rakuten Group; Revised Outlook to Stable; JCR Affirmed A- and J-1 on Rakuten Card; Revised Outlook to Stable; JCR Affirmed A- and J-1 on Rakuten Bank; Revised Outlook to Stable; JCR Affirmed A- Long-term Issuer Rating on Rakuten Securities; Revised Outlook to Stable; JCR Affirmed A- Long-term Issuer Rating on Rakuten General Insurance; Revised Outlook to Stable; JCR Affirmed A- Long-term Issuer Rating on Rakuten Life Insurance; Revised Outlook to Stable; JCR Affirmed A+/Stable Long-term Issuer Rating on INFRONEER HD; JCR Affirmed BBB+/Stable and J-2 on FURUKAWA; JCR Assigned Preliminary A+ Rating to Shelf Registration of Nomura Real Estate HD; ARCHIVISION21: Second Party Opinion on Sustainability Linked Loan Framework; de-Live, THE KYOTO CHUO SHINKIN BANK: Second Opinion on Positive Impact Finance; NKE, THE KYOTO CHUO SHINKIN BANK: Second Opinion on Positive Impact Finance; Shinyou Unso, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; KENCONTROLS, THE NISHI-NIPPON CITY BANK: Second Opinion on Positive Impact Finance; Kouichi Kogyo, THE BANK OF FUKUOKA: Second Opinion on Positive Impact Finance

Sep. 25, 2025: JCR Affirmed A-/Stable Long-term Issuer Rating on Kanadevia; JCR Assigned Preliminary BBB+ Rating to Shelf Registration of Sanken Electric; [ Asset Securitization Products ] JCR Assigned A+ to US real estate secured loan securitization 2025-09; JCR Assigned AA to Libra A Limited Series C098; Sumitomo Mitsui Trust Bank (Future Trust): Second Party Opinion on Green Finance Framework; TOYOKEIKI, The Joyo Bank: Second Party Opinion on Sustainability Linked Loan; &Do Holdings, San ju San Bank: Second Opinion on Positive Impact Finance; MIYATEC, San ju San Bank: Second Opinion on Positive Impact Finance; Kinbara Noriten, THE SHIZUOKA BANK: Second Opinion on Positive Impact Finance; YAMAJU CERAMICS, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; PRIME HOUSE HORLDINGS, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; SR HOLDINGS, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; OCHIAI, The Joyo Bank: Second Opinion on Positive Impact Finance; hamasaka denki, The Tama Shinkin Bank: Second Opinion on Positive Impact Finance; OGURA, The Chiba Kogyo Bank: Second Opinion on Positive Impact Finance; MUGEN ESTATE, The Chiba Kogyo Bank: Second Opinion on Positive Impact Finance; FUKKO KENSETSU, The Nanto Bank: Second Opinion on Positive Impact Finance