Corporate History
The history of Rating and Investment Information, Inc. (R&I)
| The History of The Japan Bond Research Institute (JBRI) | The History of Nippon Investors Service, Inc. (NIS) | ||
|---|---|---|---|
| 1975 | Mar. | In-house unit set up by Nihon Keizai Shimbun, Inc; research on bond rating begun. | |
| 1977 | Apr. | First pilot ratings for convertible bonds published through the inauguration of Nikkei Newsletter on Bonds and Money. | |
| 1979 | Apr. | The Japan Bond Research Institute (JBRI) established as a discretionary body. Bond rating activities transferred from the Nihon Keizai Shimbun to JBRI. | |
| 1980 | Jan. | Preliminary ratings inaugurated. | |
| 1982 | Jan. | Rating of yen-denominated bonds of non-residents (samurai bonds) begun. | |
| Jul. | Inauguration of Country Risk Report (now called the "R&I Country Risk Survey") . | ||
| 1985 | Apr. | Incorporated as a joint-stock company. | Establishment of Nippon Investors Service, Inc. (NIS) |
| 1986 | Jan. | First issue of NIS Rating Information (in Japanese) published. | |
| 1987 | Mar. | The first ratings of repackaged bonds in Japan begun. | |
| Jul. | Regular ratings for bonds issued by Japanese issuers begun. | ||
| 1988 | Feb. | Test ratings for non-residents' commercial paper announced. | |
| Apr. | Rating of commercial paper begun. | ||
| May | Research into methods for evaluating pension fund performance initiated. | ||
| 1989 | Oct. | Rating of shelf-registered bonds begun. | Rating of shelf-registered bonds begun. |
| 1990 | Sep. | Inauguration of the Newsletter on Pensions and Investment. | |
| 1991 | May | Registration as an investment advisory business with the US Securities and Exchange Commission completed. | |
| Jul. | Registration as an investment advisory business with the US Securities and Exchange Commission completed. | ||
| Nov. | Legally registered as an asset management agency (pension fund evaluation) by the Ministry of Finance. Evaluation of pension fund performance begun. |
||
| 1992 | Jul. | Designated as an official rating agency by the Ministry of Finance. | Designated as an official rating agency by the Ministry of Finance. |
| 1993 | Feb. | The first formal asset backed securities in Japan rated and announced. | |
| 1994 | Apr. | Data Base Service launched, transmitting each day's rating announcements directly to subscribers by electronic mail. | |
| 1995 | Oct. | Publication of Waga Kuni Saiken Kakuzuke no Ayumi [The History of Bond Rating in Japan] as part of JBRI's tenth anniversary celebrations. | |
| 1996 | May | Recognized as an official rating agency in Hong Kong-the first Japanese rating agency to be recognized. | Regular rating of asset backed securities (Installment Receivables Securitization Structure) announced. |
| 1997 | Oct. | Rating of Insurance Claims Paying Ability begun. | |
| 1998 | Apr. | 1 Japan Rating and Investment Information, Inc., established. | |
| "Credit Ratings As A New Company" announced. | |||
| Oct. | "R&I Rating Data Monthly" published. | ||
| Dec. | "R&I Rating Information" (Monthly Bulletin for Credit Ratings) published. | ||
| 1999 | Mar. | "OP" (based on mainly public information) ratings for the Japanese municipal bonds begun. | |
| Apr. | "Financial Technology Research Institute, Inc." (FTRI) established. | ||
| May | Hong Kong office opened. | ||
| Aug. | "Evaluation for Investment Fund Management Process" begun. | ||
| 2000 | Apr. | Business Co-operation in the field of credit rating with the Korean credit rating agency, NICE (National Information & Credit Evaluation Inc.) begun. | |
| May | "Credit Ratings for Investment Fund" begun. | ||
| Aug. | Change of Company Name to "Rating and Investment Information, Inc." | ||
| Sep. | Collaboration Agreement in the field of credit ratings for ABS with FITCH begun. Credit Rating Methodology for "Zaito" (Fiscal Investment and Loan Program) agencies‘ bonds announced. |
||
| Dec. | FTRI launched the rating estimation model "Radar", which was jointly developed by Mizuho financial group. | ||
| 2001 | Feb. | QUICK-R&I Investment Fund Index begun. | |
| Apr. | "R&I Credit Express" and "Web Newsletter on Pensions and Investment" (charged internet information service) begun. | ||
| Jun. | Credit Ratings for "Servicer" begun. | ||
| Oct. | The first joint rating with FITCH announced. | ||
| Dec. | The first rating as a Japanese non-financial company for Trust Originated Preferred Securities issued by NEC announced. | ||
| 2002 | Feb. | FTRI announced an agreement to develop and release "JS Price," a new standard for bond prices designed to serve the needs of market participants to evaluate bond prices at market value under the mark-to-market accounting system. | |
| Jun. | R&I announced the first rating of Tier 3 debt issued by a Japanese bank- Bank of Tokyo-Mitsubishi. | ||
| Sep. | R&I announced the outline of the evaluation of variable annuity. | ||
| Nov. | R&I participates U.S. SEC Hearings on Credit Rating Agencies as the only rating agency besides those located in North America. | ||
| 2003 | Feb. | Announcement of the first incorporated school rating (Hosei University) followed by Nihon University, Waseda University, Osaka University of Economics. | |
| Jun. | Set up a column of "Bonds and Ratings Data" in the "Credit Express" Published "Facts about Company Pension" | ||
| Jul. | Submitted a public comment responding to the US SEC's Concept Release entitled "Rating Agencies and the Use of Credit Ratings under the Federal Securities Laws." | ||
| Oct. | Announced "R & I Long-term Prospects-Japanese Financial Sector" followed by the publication of Published "Financial Sector Review" | ||
| Nov. | Held the 4th New York Conference-Japanese Capital Market Trends. | ||
| 2004 | Mar. | Office moved to Nihonbashi. | |
| May | Joins a seminar "Domestic Credit Rating Agencies in Asia - Roles, Issues and Challenges" sponsored by Asian Development Bank. | ||
| Jul. | Holds a R&I Credit Rating Seminar. | ||
| Sep. | Starts rating Medical Institution - Rates Medical Institution Sankokai. | ||
| Oct. | Joins a forum entitled "The Role of Credit Rating Agencies in the Developing Structured Markets in Asia" in Singapore organized by Monetary Authority of Singapore (MAS) and Japanese Ministry of Finance (MOF), sponsored by the Asian Development Bank. | ||
| Nov. | Starts rating Syndicated Loans - Assigns a rating for Syndicated Loans issued by Mitsubishi Corporation. Holds a R&I Pension Seminar. |
||
| 2005 | Feb. | Yasuhiro Harada, Executive Vice President, testified at the US Senate Committee on Banking, Housing, and Urban Affairs on the role of credit rating agencies. | |
| Mar. | R&I opened its New York Representative Office | ||
| Apr. | R&I held its 5th New York Conference. | ||
| Jun. | R&I submitted its opinion to the US SEC on the proposed rules on "Definition of Nationally Recognized Statistical Rating Agencies". | ||
| Sep. | FTRI launched "risklick", a corporate credit risk evaluation service. | ||
| Dec. | R&I announced "Code of Conduct for Credit Rating". | ||
| 2006 | Feb. | Held seminar on electronic CPs in Osaka | |
| Jun. | Hong Kong Monetary Authority (HKMA) recognized R&I as External Credit Assessment Institutions (ECAI) under the new regulation on capital adequacy (Basel II). | ||
| Sep. | 25th anniversary of R&I Country Risk Survey | ||
| Oct. | R&I commenced "R&I SME Rating" Service. The SME Rating will be assigned to small- and medium sized enterprise (SMEs) with annual revenue of 500 million yen to 10,000 million yen | ||
| Dec. | FTRI held seminar on "Applying Credit Scoring Model and its Verification" | ||
| 2007 | Mar. | Set up "R&I Fund Award," a prizing system for annuity and investment funds Japanese FSA recognized R&I as External Credit Assessment Institutions (ECAI) under the new regulation on capital adequacy (Basel II). |
|
| Apr. | Published "Newsletter on Funds & Money," a magazine specialized in managed financial products | ||
| May | R&I Signed the Three Parties Memorandum of Understanding with National Information & Credit Evaluation, Inc. and Dagong Global Credit Rating Co. Held a Credit Rating Forum in September. | ||
| Jun. | Published "Evaluation of Active Manager's Funds" | ||
| Jul. | Established a "Study Group for an Information Security Rating System" | ||
| Sep. | R&I is Registered as an NRSRO with the U.S. SEC Under the Credit Rating Agency Reform Act | ||
| Oct. | Held the 6th New York Conference | ||
| Nov. | Held "Symposium on Local Public Finances" in Tokyo Issued "R&I Local Government Ratings & Financial Data 2007" in CD-ROM |
||
| 2008 | Apr. | Establishment of information security rating company, IS Rating. | |
| Oct. | French Banking Commission(Commission Bancaire) and Belgian Banking, Finance and Insurance Commission designate R&I as an External Credit Assessment Institute(ECAI) under Basel II. | ||
