News Release

Jan. 26, 2022

JCR Affirmed BBB+/Stable Long-term Issuer Rating on NIPPON THOMPSON

JCR Assigned Preliminary BBB- Rating to Subordinated Bonds of Asahi Mutual Life Insurance

JCR Assigned A Rating to Bonds of AEON Financial Service

Jan. 25, 2022

JCR Affirmed AA-p on Fukoku Mutual Life Insurance; Revised Outlook to Positive
JCR Affirmed AA- on Fukokushinrai Life Insurance; Revised Outlook to Positive

JCR Affirmed AA/Stable Long-term Issuer Rating on Seven & i HD
JCR Affirmed AA/Stable Long-term Issuer Rating on SEVEN-ELEVEN JAPAN

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

JCR Affirmed A-/Stable Long-term Issuer Rating on Yasuda Logistics

JCR Affirmed AA/Stable on Capital Insurance

JCR Affirmed AAA/Stable Long-term Issuer Rating on Japan Finance Corporation

JCR Affirmed BBB+/Stable (FC/LC) on Export-Import Bank of India

[ Asset Securitization Products ] JCR Assigned A to Securitization of Leases Receivable 202201A

[ Asset Securitization Products ] JCR Assigned A to Securitization of Leases Receivable 202201

[ Asset Securitization Products ] JCR Assigned A to Securitization of Leases Receivable 202201

JCR Assigned SU 1(F) to Sustainability Finance Framework of ORIX Bank

JCR Assigned Social 1(F) to Social Loan Framework of DL Life Partner REIT

JCR Assigned Social 1 (Preliminary Evaluation) to Long-term Debts of DL Life Partner REIT

Jan. 24, 2022

JCR Assigned BBB/Stable Long-term Issuer Rating to KYUSHU LEASING SERVICE

JCR Affirmed BB+ and J-3 on Mitsui E&S HD; Revised Outlook to Negative

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

JCR Affirmed A-/Stable Long-term Issuer Rating on Sotetsu HD

JCR Affirmed BBB+/Stable Long-term Issuer Rating on Chuo Warehouse

JCR Affirmed BBB-/Stable and J-2 on Financial Products Group

JCR Assigned BBB+ Rating to Bonds Program of Yanmar HD

Jan. 21, 2022

JCR Assigned AA+/Stable Long-term Issuer Rating to INPEX

JCR Removed Credit Monitor; Affirmed A and J-1 on DAIBIRU; Placed Stable Outlook

JCR Upgraded Long-term Issuer Rating on KANEMATSU to A-/Stable

JCR Upgraded Long-term Issuer Rating on ORIX to AA/Stable

JCR Assigned A+ Rating to Subordinated Bonds and Subordinated Loan of ORIX

JCR Upgraded Long-term Issuer Rating on LaSalle LOGIPORT REIT to AA/Stable

JCR Affirmed A and J-1 on HIKARI TSUSHIN; Revised Outlook to Positive

JCR's Rating Review of Major Life Insurers

JCR Affirmed AA+/Stable and J-1+ on Nippon Life Insurance

JCR Affirmed A+ Long-term Issuer Rating on Dai-ichi Life HD; Revised Outlook to Positive
JCR Affirmed AA- Long-term Issuer Rating on Dai-ichi Life Insurance; Revised Outlook to Positive

JCR Affirmed AA- and J-1+ on Meiji Yasuda Life Insurance; Revised Outlook to Positive

JCR Affirmed AA- Long-term Issuer Rating on SUMITOMO LIFE INSURANCE; Revised Outlook to Positive

JCR Affirmed A-/Stable Long-term Issuer Rating on AISAN INDUSTRY

JCR Affirmed AAA/Stable Long-term Issuer Rating on National University Corporation Osaka University

JCR Affirmed J-2 Rating on CP of CMIC HD

JCR Affirmed BBB/Stable Long-term Issuer Rating on Harima-Kyowa

JCR Affirmed A+/Stable and J-1 on Mitsui Chemicals

JCR Affirmed AA-/Stable Long-term Issuer Rating on Hirogin HD and Hiroshima Bank

JCR Affirmed J-1+ Rating on CP of Nissay Leasing

JCR Assigned A Rating to Bonds of JA MITSUI LEASING

JCR Assigned AA- Rating to Bonds of SoftBank

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

JCR Assigned A Rating to Bonds of One REIT

[ Asset Securitization Products ] JCR Assigned A+ to Ganymede Limited Series 2021-180

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL 22-01

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL 22-01

Jan. 20, 2022

JCR Affirmed BBB+/Stable and J-2 on Yanmar HD

JCR Assigned BBB+ Rating to Subordinated Bonds of SoftBank Group

JCR Assigned AA- Rating to Bonds of Kenedix Retail REIT

[ Asset Securitization Products ] JCR Upgraded 1st Loan and 2nd Loan to A- and Assigned A- to 3rd Loan for ABL 20-09

[ Asset Securitization Products ] JCR Assigned AA- to Elva Funding PLC Series 2022-01

Highlights of Online Securities Companies' Financial Results for Period from April to September 2021

JCR Assigned Green 1(T)(F) to Green/Transition Bond Framework Issued by JFE Holdings

JCR Reviewed a Third Party Opinion on Transition Linked Finance Framework of Kawasaki Kisen

Jan. 19, 2022

EDF Revised its Nuclear Output Projection. Government Postponed Portion of the 2022 Tariff Increase - Limited Impact on the Rating Currently But JCR Will Materialize the Measures Taken by EDF

JCR Affirmed BBB/Stable Long-term Issuer Rating on Oenon HD

JCR Affirmed AA-/Stable and J-1+ on Sumitomo Warehouse

JCR Affirmed AA/Stable and J-1+ on Mitsubishi Logistics

JCR Assigned AA- Rating to Bonds of Sumitomo Mitsui Trust Bank

Jan. 18, 2022

JCR's Rating Review of 3 Major Shipping Companies

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

JCR Affirmed A Long-term Issuer Rating on SQUARE ENIX HD; Revised Outlook to Positive

JCR Affirmed A/Stable and J-1 on Ube Industries

JCR Affirmed A+/Stable and J-1 on Sumitomo Rubber Industries; Assigned Preliminary A+ to Shelf Registration

JCR Affirmed AA-/Stable and J-1+ on TOKYU

JCR Affirmed A/Stable Long-term Issuer Rating on FUJI ELECTRIC

JCR Affirmed AAA/Stable Long-term Issuer Rating on TOYOTA MOTOR

JCR Affirmed AAA/Stable Long-term Issuer Rating on TOYOTA FINANCE

JCR Affirmed AA/Stable and J-1+ on Mitsubishi HC Capital; Assigned AA to Bonds

JCR Assigned AA- Rating to Bonds of Daiwa Securities Living Investment Corporation

[ Asset Securitization Products ] JCR Assigned Preliminary AAA, Preliminary A and Preliminary A- to Beneficial Interest 202201

Jan. 17, 2022

JCR Downgraded Rating on UNIZO Holdings to #BB/Negative; Maintains Credit Monitor

JCR Affirmed AAA/Stable (FC/LC) on United States of America

JCR Affirmed AA/Stable Long-term Issuer Rating on MORI TRUST Sogo Reit

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to BANK OF FUKUOKA C Corporation Bills & Electronically Recorded Receivable ABL 22-01

Jan. 14, 2022

JCR Assigned AAA/Stable Long-term Issuer Rating to The National University Corporation University of Tsukuba

JCR Upgraded Long-term Issuer Rating on DAIDO FIRE & MARINE INSURANCE to A-/Stable

JCR Affirmed A/Stable and J-1 on Keihan HD

JCR Affirmed A/Stable Long-term Issuer Rating on SEIREN

JCR Affirmed BBB/Stable Long-term Issuer Rating on TAMURA

JCR Affirmed AA-/Stable Long-term Issuer Rating on Fukuoka Kogyo Daigaku

JCR Affirmed AA-/Stable Long-term Issuer Rating on ROHM

JCR Affirmed AAA/Stable Long-term Issuer Rating on Japan Student Services Organization; Assigned AAA to Bonds

JCR Affirmed A/Stable and J-1 on JA MITSUI LEASING

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

JCR Assigned AA Rating to Bonds of ORIENTAL LAND

JCR Assigned AA+ Rating to Bonds of Electric Power Development

JCR Assigned AA- Rating to Bonds of Kyushu Electric Power

JCR Assigned AA Rating to Bonds of Chugoku Electric Power

JCR Assigned AA Rating to Bonds of Tohoku Electric Power

JCR Assigned AAA Rating to Bonds of Development Bank of Japan

JCR Assigned AAA Rating to Bonds of East Nippon Expressway

JCR Assigned A- Rating to Bonds of Orient Corporation

JCR Assigned Green 1 to the Green Bonds Issued by Orient Corporation

JCR Provided a Third Party Opinion to the Positive Impact Framework of the Kyoto Bank

Jan. 13, 2022

JCR Upgraded Long-term Issuer Rating on YAMAZEN to A/Stable

JCR Affirmed A/Stable and J-1 on Sumitomo Osaka Cement