News Release

Mar. 15, 2021

JCR Affirmed A-/Stable and A- on Shibusawa Warehouse

JCR Affirmed AA-/Stable and AA- on Sumitomo Warehouse

JCR Affirmed A/Stable, and A on FUJI ELECTRIC

JCR Affirmed A/Stable Long-term Issuer Rating on AIN HOLDINGS

JCR Assigned Preliminary AA- to Securitization of Leases Receivable from SB 202103

JCR Assigned Preliminary AA- to Securitization of Loans Receivable from SB 202103

[ Asset Securitization Products ] JCR Affirmed BBB and BBB- on 2165004_Trust ABL & Beneficial Interest

Mar. 12, 2021

JCR Assigned AA-/Stable Long-term Issuer Rating to Kenedix

JCR Affirmed AA-, AA- and Preliminary AA- on Kenedix Office Investment Corporation; Revised Outlook from Stable to Positive

Rakuten Announces Issuance of New Shares through Third-Party Allotment and Disposal of Treasury Stock - JCR Will Focus on Future Progress in Mobile Business

JCR Assigned Green 1 (T)(Final Evaluation) to Transition Loan Borrowed by Kawasaki Kisen

JCR Assigned Green 1 (Preliminary) to Canadian Solar Dual Tenor Green Project Bond Trust (Ibaraki/Hiroshima) Beneficial Interest

JCR Assigned Green 1 (Preliminary) to Canadian Solar Dual Tenor Green Project Bond Trust (Ibaraki/Hiroshima) Trust ABL

JCR Assigned Green 1 (Final Evaluation) and Provided a Third Party Opinion on Suitability for the Sustainability-Linked Bond Principles to the 2nd Unsecured Bonds Issued by Takamatsu Construction Group

JCR Assigned A- Rating to Bonds of TAKAMATSU CONSTRUCTION GROUP

JCR Assigned AA Rating to Bonds of Corporacion Andina de Fomento

JCR's Rating Review of General Construction Companies

JCR Affirmed AA-/Stable, AA- and Preliminary AA- on TAISEI

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

JCR Affirmed AA-p/Stable Long-term Issuer Rating on SHIMIZU

JCR Affirmed A/Stable Long-term Issuer Rating on SANKEI BUILDING

JCR Affirmed A-/Stable and BBB on ZENKOKU HOSHO

Mar. 11, 2021

JCR Assigned Green 1 (Final Evaluation) to the 2nd Unsecured Bonds Issued by IINO KAIUN

JCR Assigned BBB+ Rating to Bonds of IINO KAIUN; Affirmed BBB+/Stable

JCR Upgraded Rating on Daiwa Securities Living Investment Corporation from A+/Positive to AA-/Stable; Affirmed J-1+

JCR Assigned A- Rating to Bonds of Chuo-Nittochi Group

JCR Assigned AAA Rating to Bonds of Central Nippon Expressway

JCR Affirmed A+/Stable, A+ and Preliminary A+ on Nagoya Railroad

JCR Affirmed A/Stable Long-term Issuer Rating on Aica Kogyo

JCR Assigned AA- to Sylph Limited Series 60014

Mar. 10, 2021

JCR Assigned A- Rating to Subordinated Bonds of Dai-ichi Life Holdings

JCR Affirmed AA- on Oxygen Capital Limited Series 86

JCR Affirmed AA- on Oxygen Capital Limited Series 87

Mar. 09, 2021

JCR Reviewed Bonds Issued by MITSUI-SOKO HOLDINGS

JCR Affirmed BBB/Stable and J-2 on JK Holdings

Mar. 08, 2021

JCR Assigned Green 1 (Final Evaluation) to Long-term Borrowings of Canadian Solar Infrastructure Fund, Inc.

JCR Reviewed GL No.1 Loan Borrowed by DREAM Private REIT Inc.

JCR Reviewed Green Trust Beneficiary Rights of DREAM Private REIT Inc.

Mar. 05, 2021

JCR Assigned Green 1 to the 18th Bonds Issued by JA MITSUI LEASING

JCR Assigned A Rating to Bonds of JA MITSUI LEASING

JCR Placed Rating on CP of SHOKO under Credit Monitor #J-2/Negative

JCR Affirmed BB+ Rating on AIFUL; Revised Outlook from Stable to Positive

JCR Assigned AA- Rating to Bonds of Asahi Group Holdings

JCR Assigned A- Rating to Bonds of Toyo Tire

JCR Assigned A- Rating to Bonds of Konoike Transport

JCR Assigned BBB+ Rating to Bonds of TOSHO

JCR Assigned AAA Rating to Bonds of West Nippon Expressway

JCR Assigned A- Rating to Bonds of Shinsei Bank

JCR Assigned Preliminary AAA Rating to Shelf Registration of NTT FINANCE

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

JCR Affirmed AA/Stable and AA on Nippon Prologis REIT

Mar. 04, 2021

JCR Upgraded Long-term Issuer Rating and Ability to Pay Insurance Claims on Asahi Mutual Life Insurance from BBB/Positive to BBB+/Stable

JCR Assigned A- Rating to Bonds of Showa Sangyo

JCR Affirmed AA-/Stable, AA-, A, Preliminary AA- and J-1+ on Asahi Group Holdings; Increase in CP Maximum Amount

JCR Affirmed AAA/AAA (FC/LC) Ratings on Commonwealth of Australia

JCR Affirmed A+/A+(FC/LC) Ratings on the Slovak Republic with Stable Outlook

Mar. 03, 2021

JCR Reviewed Bonds Issued by Fuyo General Lease

JCR Affirmed AA/Stable Long-term Issuer Rating on Kanagawa University

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

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

Mar. 02, 2021

JCR Affirmed A+/Stable Long-term Issuer Rating on Yokogawa Electric

JCR Affirmed A+/Stable and J-1 on MINEBEA MITSUMI

JCR Affirmed A-/Stable, A-, BBB and J-1 on MITSUBISHI MATERIALS

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

JCR Affirmed A+/Stable, A+, A-, and J-1 on Pan Pacific International Holdings

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

JCR Affirmed AA/Stable and AA on Advance Residence Investment Corporation

JCR Withdraws A+/Stable and A+ on Empresa Nacional del Petroleo

Mar. 01, 2021

JCR Assigned Green 1 (Preliminary Evaluation) to 5th Series Unsecured Straight Bond Issued by SEIBU HOLDINGS

JCR Assigned AA-/Stable and J-1+ to LINE: Withdraws J-1+ Rating on CP of A Holdings

JCR Assigned AA/Stable Long-term Issuer Rating to Japan Metropolitan Fund Investment Corporation; Removed Credit Monitor and Upgraded Rating on Bonds from #AA-/Positive to AA

JCR Affirmed AA+/Stable and J-1+ on Master Trust Bank of Japan

JCR Affirmed AA+/Stable and J-1+ on Custody Bank of Japan

JCR Affirmed AA/Stable, AA, Preliminary AA and J-1+ on Sumitomo Mitsui Finance and Leasing

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

[ Asset Securitization Products ] JCR Affirmed BBB+ and BBB- on Specified Bonds 19-12

Feb. 26, 2021

JCR Assigned Green 1 (Final Evaluation) to 3rd Unsecured Bond issued by GPSS Holdings

JCR Assigned Green 1(F) to Green Finance Framework of Global One Real Estate Investment Corporation

JCR Assigned A- Rating to Bonds of Mitsui Mining and Smelting

JCR Assigned AA Rating to Bonds of Chugoku Electric Power

JCR Affirmed AA/Stable, AA and A+ on DAIWA HOUSE INDUSTRY

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

Feb. 25, 2021

Maeda Reached Basic Agreement on Business Integration with Two Consolidated Subsidiaries Including Maeda Road Construction - No Immediate Impact on Rating

JCR Assigned A- Rating to Subordinated Bonds of Marubeni

JCR Affirmed A/Stable Long-term Issuer Rating on AEON Mall

JCR Affirmed A-/Stable and J-1 on AEON KYUSHU

JCR Affirmed A/Stable, A and J-1 on AEON Financial Service

JCR Affirmed A-/Stable, A- and J-1 on AEON Product Finance

JCR Affirmed A-/Stable and J-1 on AEON Housing Loan Service

JCR Affirmed A-/Stable (FC) on AEON Thana Sinsap (Thailand)

JCR Affirmed A/Stable Long-term Issuer Rating on United Super Markets Holdings

JCR Affirmed BBB+/Positive, BBB+ and J-2 on MEIDENSHA

JCR Affirmed AA+ Rating on Shoko Chukin Bank; Revised Outlook from Negative to Stable

JCR Affirmed A/Stable and A- Ratings on Bank of Nagoya

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

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

JCR Affirmed AAA/AAA (FC/LC) Ratings on Denmark with Stable outlook

JCR Affirmed AAA Ratings on The International Bank for Reconstruction and Development with Stable Outlook

JCR Affirmed AA/Stable and AA on Daiwa Office Investment Corporation

[ Asset Securitization Products ] JCR Assigned AAA to Beneficial Interest of Hayabusa