News Release

Jun. 03, 2021

JCR Affirmed AA-/Stable, AA-, Preliminary AA- and J-1+ on Sumitomo Metal Mining; Increase in CP Maximum Amount

JCR Affirmed A+/Negative, A+ and J-1 on NIKON

JCR Affirmed AA/Stable and AA on Japan Logistics Fund

Highlights of Major Private Railroad Companies' Financial Results for Fiscal Year Ended March 2021

Highlights of Major Trucking Companies' Financial Results for Fiscal Year Ended March 2021

Jun. 02, 2021

JCR Assigned A Rating to Bonds of ANA HOLDINGS

JCR Assigned A- Rating to Bonds of JACCS

JCR Affirmed AAA/AAA (FC/LC) Ratings on France with Stable Outlook

JCR Assigned and Affirmed A+ on Notes of Man GPM US Residential Debt Fund

Highlights of Major Retail Groups' Financial Results for Fiscal Year Ended February 2021

Jun. 01, 2021

JCR Affirmed A-p Rating on Deutsche Bank; Revised Outlook from Negative to Stable

JCR Affirmed AAA Rating on United Kingdom; Revised Outlook from Negative to Stable

JCR Assigned A Rating to Bonds of SCSK

JCR Assigned AA- to Elva Funding PLC Series 2021-9

JCR Affirmed A- on Ecology Trust Bond 1st Series Fund Trust Bonds and Trust ABL

JCR Affirmed A- on Ecology Trust Bond 2nd Series Fund Trust Bonds and Trust ABL

[ Asset Securitization Products ] JCR Affirmed AAA on Class A Beneficial Interest and ABL

Highlights of Major Pharmaceutical Companies' Financial Results for Fiscal Year Ended March 2021

Highlights of Food Service Companies' Financial Results for Fiscal Year 2020

May. 31, 2021

Public Comment on revision of Sovereign Rating Methodology

JCR Assigned BB (FC/LC) Unsolicited Ratings to Turkey with Stable Outlook and Withdrew Solicited BB+ (FC/LC)

JCR Affirmed J-1+ Rating on CP of JERA; Increase in CP Maximum Amount

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

JCR Affirmed A+/Stable, A+, A-, Preliminary A+ and J-1 on Marubeni

JCR Affirmed AA-/Stable, AA- and Preliminary AA- on AEON REIT Investment Corporation

[ Asset Securitization Products ] JCR Assigned J-1+ to Hokuriku Bank A Corporation Bills & Electronically Recorded Receivables ABL 21-05

Highlights of Electric Power Companies' Financial Results for Fiscal Year Ended March 2021

JCR Withdraws J-2 Short-term Issuer Rating on MONEY PARTNERS GROUP

May. 28, 2021

JCR Upgraded Rating on Hulic Reit from AA-/Positive and AA- to AA/Stable and AA

JCR Assigned AA- Rating to Bonds of SoftBank

JCR Assigned AA- Rating to Bonds of TOKYU

JCR Assigned AA Rating to Bonds of DAIWA HOUSE INDUSTRY

JCR Assigned A+ Rating to Bonds of Mitsubishi Chemical Holdings

JCR Affirmed A-/Stable and J-1 on Showa Leasing

JCR Affirmed A-/Stable Long-term Issuer Rating on Shinsei Securities

JCR Affirmed A-/Stable, A- and J-1 on Shinsei Bank

JCR Affirmed AA-/Stable and AA- Rating on TOKYU REIT

Highlights of Special Steel Manufacturers' Financial Results for Fiscal Year Ended March 2021

Highlights of Oil Distributors' Financial Results for Fiscal Year Ended March 2021

[ Asset Securitization Products ] JCR Assigned BBB- to ABL 21-05

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL 21-05

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL 21-05 (D Hospital)

[ Asset Securitization Products ] JCR Assigned J-1 to BANK OF FUKUOKA C Corporation Bills & Electronically Recorded Receivable ABL 21-05

JCR Provided a Third Party Opinion on Sustainability Linked Loans Provided by MUFG Bank to Nippon Yusen Kabushiki Kaisha (NYK Line)

May. 27, 2021

JCR Affirmed A+/Stable, A- and J-1 on Takeda Pharmaceutical

JCR Assigned A+ Rating to Bonds of Daiwa Securities Group

JCR Assigned AA- to Elva Funding PLC Series 2021-7

Highlights of Major Japanese Automakers' Financial Results for Fiscal Year Ended March 2021

May. 26, 2021

JCR Affirmed BBB Rating on Sodick; Revised Outlook from Stable to Positive

JCR Affirmed A-/Stable Long-term Issuer Rating on KYOEI STEEL

JCR Affirmed A+/Stable Long-term Issuer Rating on ROHTO PHARMACEUTICAL

JCR Assigned BBB+ to Sylph Limited Series 10144

Highlights of Major Real Estate Companies' Financial Results for Fiscal Year Ended March 2021

May. 25, 2021

JCR Downgraded Rating on KURARAY from AA/Negative and AA to AA-/Stable and AA-

JCR Upgraded Rating on Kyoei Fire and Marine Insurance from A+/Stable to AA/Stable; Affirmed J-1+ on CP

JCR Assigned A+ Rating to Bonds (Tier 2 with loss absorption clause) of Mitsubishi UFJ Financial Group

JCR Assigned AAA Rating to Bonds of Central Nippon Expressway

JCR Assigned A+ Rating to Bonds of Kenedix Residential Next Investment Corporation

JCR Assigned Preliminary A Rating to Shelf Registration of Keihan Holdings

JCR Affirmed J-1 Rating on CP of DOWA HOLDING; Increase in CP Maximum Amount

JCR Affirmed A/Stable and A on OKAMURA

May. 24, 2021

JCR Upgraded Rating on KONAMI HOLDING from A/Positive, A and Preliminary A to A+/Stable, A+ and Preliminary A+

JCR Assigned Preliminary A Rating to Subordinated Loan of T&D Holdings

JCR Affirmed A+/Stable Long-term Issuer Rating on Yamagata Bank

JCR Affirmed A-/Stable Long-term Issuer Rating on SAITAMAKEN SHINKIN BANK

JCR Affirmed A-/Stable and J-1 on Kyoto Shinkin Bank

Highlights of Major Shipping Companies' Financial Results for Fiscal Year Ended March 2021

May. 21, 2021

JCR Affirmed BBB+ Rating on SHINNIHON; Revised Outlook from Stable to Positive

JCR Assigned A- Rating to Bonds of Sojitz

JCR Assigned BBB- to Bonds of Credito Real; Affirmed BBB-/Stable (FC) and BBB- and BB on MTN Program

JCR Assigned AAA Rating to Bonds of Japan Student Services Organization

JCR Affirmed AA+/Stable and AA+ on NARITA INTERNATIONAL AIRPORT

JCR Affirmed AA/Stable Long-term Issuer Rating on Hachijuni Bank

JCR Affirmed A/Stable (FC) on NatWest Group and NatWest Market and A+/Stable (FC) on National Westminster Bank

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL 21-05

Highlights of Three Japan Railway Companies' Financial Results for Fiscal Year Ended March 2021

Highlights of Major Information Services Companies' Financial Results for Fiscal Year Ended March 2021

May. 20, 2021

JCR Assigned Preliminary A- Rating to Subordinated Bonds of Nishi-Nippon Railroad

JCR Assigned AA Rating to Bonds of Tohoku Electric Power

Highlights of Semiconductor Production Equipment Manufacturers' Financial Results for Fiscal Year Ended March 2021

JCR Affirmed AAAp/Stable Long-term Issuer Rating on European Bank for Reconstruction and Development

JCR Assigned AA- to Oxygen Capital Limited Series 144

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL 21-05 (F Hospital)

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL 21-05

JCR Affirmed BBB Rating on Sumitomo Mitsui Trust ABL11150

JCR Affirmed BB+ Rating on Sumitomo Mitsui Trust ABL11341

JCR Downgraded Rating on Sumitomo Mitsui Trust ABL11339 to BBB-

JCR Affirmed BBB Rating on Sumitomo Mitsui Trust ABL11340

JCR Downgraded Rating on Mitsubishi UFJ Trust ABL630 from BBB- to BB+

JCR Assigned Social 1(F) to Social Finance Framework of Daiwa Securities Living Investment Corporation

May. 19, 2021

JCR Assigned AA+/Stable Long-term Issuer Rating to National Mutual Insurance Federation of Agricultural Cooperatives

JCR Assigned Preliminary BBB Rating to Subordinated Bonds of SoftBank Group

JCR Assigned A+ Rating to Bonds of J. FRONT RETAILING

JCR Assigned SU 1 to the Sustainability Bonds Issued by J. FRONT RETAILING

JCR Assigned Preliminary A- Rating to Bonds (Tier 1 with loss absorption clause) of Nomura Holdings

JCR Assigned AA Rating to Bonds of Nippon Prologis REIT

JCR Affirmed A/Negative, A and Preliminary A on Japan Airlines

JCR Affirmed AA+p/Stable Long-term Issuer Rating on Shin-Etsu Chemical

Highlights of Blast Furnace Steelmakers' Financial Results for Fiscal Year Ended March 2021

May. 17, 2021

Seven & i Holdings Postpones Disclosure of Medium-Term Management Plan - JCR Will Keep to Pay Attention to Earnings and Financial Impacts of Acquisition of U.S. Speedway LLC