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About this site

Disclaimer

Unless specifically provided otherwise, all rights and interests (including copyrights, other intellectual property rights, and know-how) regarding this site, the content of this website or any other information included in this website belong to Rating and Investment Information, Inc. ("R&I"). None of the information, etc. may be used, in whole or in part, (including without limitation reproducing, amending, sending, distributing, transferring, lending, translating, or adapting the information), or stored for subsequent use without R&I's prior written permission.

 The information on this website  is information that R&I has determined, at its own discretion, to be reliable. However, R&I does not undertake any independent verification of the accuracy or other aspects of that information. Therefore, R&I makes no representation or warranty, express or implied, as to the accuracy, timeliness, adequacy, completeness, merchantability, fitness for any particular purpose, or any other matter with respect to any such information.

 R&I is not responsible or liable in any way to any party, for all or any damage, loss, or expenses arising out of or in relation to errors, omissions, inappropriateness of, or insufficiencies in the information on this website (regardless of the nature of the damage, including direct, indirect, ordinary, special, consequential, compensatory, or incidental damage, lost profits, non-monetary damage, and any other damage, and including expenses for attorneys and other specialists), whether in contract, tort, for unreasonable profit or otherwise, irrespective of negligence or fault of R&I.

Japanese is the official language of this website and if there are any inconsistencies or discrepancies between the information written in Japanese and the information written in languages other than Japanese the information written in Japanese will take precedence.

Lines of Businesses of R&I

R&I is registered as a Credit Rating Agency under Article 66-27 of the Financial Instruments and Exchange Act. R&I is engaged in the Credit Rating Business, Ancillary Businesses and Other Lines of Business as set forth in the Financial Instruments and Exchange Act and other applicable laws and regulations.

The "Credit Rating Business" means “conducting in the course of trade such acts as determining Credit Ratings and either providing them to someone or making them available to the public (excluding those acts specified by Cabinet Office Ordinance as being unlikely to result in insufficient protection of investors in light of the scope of the other party to the act and any other manner in which the acts are conducted)” as set forth in Article 2, paragraph (35) of the Financial Instruments and Exchange Act. The “Ancillary Business” means “businesses excluding Credit Rating Service but are ancillary to Credit Rating Activities” as set forth in Article 299, paragraph (1), item (xxviii) of the Cabinet Office Ordinance on Financial Instruments Business, etc. The “Other Lines of Business” means “businesses excluding Credit Rating Business and also excluding the Ancillary Businesses” as set forth in Article 299, paragraph (1), item (xxviii) of the Cabinet Office Ordinance on Financial Instruments Business, etc.

The Ancillary Business is not the Credit Rating Business. With respect to the Ancillary Business, relevant laws and regulations require measures to be implemented so that activities pertaining to such business would not unreasonably affect the Credit Rating Activities, as well as measures to prevent such business from being misperceived as the Credit Rating Business.

The Other Lines of Business is not the Credit Rating Business. With respect to the Other Lines of Business, relevant laws and regulations require measures to be implemented so that activities pertaining to such business would not unreasonably affect the Credit Rating Activities.

Credit Ratings

Credit ratings are statements of R&I's opinions regarding an issuer's general capacity to fulfill its financial obligations and the certainty of the fulfillment of its individual obligations as promised (creditworthiness).  Credit ratings do not address any risks other than credit risk (including but not limited to liquidity risk, market value risk and price volatility risk of individual obligations).  Credit ratings are not, in any sense, statements of current, future, or historical fact and should not be interpreted as such, and credit ratings are not a recommendation to purchase, sell, or hold any particular securities and do not constitute any form of advice regarding investment decisions or financial matters.  Credit ratings do not address the suitability of an investment for any particular investor.  R&I issues credit ratings based on the assumption that each investor will investigate and evaluate the securities which they plan to purchase, sell, or hold for themselves.  All investment decisions shall be made at the responsibility of the individual investor.

The information  used when R&I issues credit ratings is information that R&I has determined, at its own discretion, to be reliable. However, R&I does not undertake any independent verification of the accuracy or other aspects of that information. Therefore, R&I makes no representation or warranty, express or implied, as to the accuracy, timeliness, adequacy, completeness, merchantability, fitness for any particular purpose, or any other matter with respect to any such information.

Even after a credit rating has been issued, R&I may suspend or withdraw the rating at its discretion due to material changes in the environment, insufficient data or information, or other circumstances.

R&I is not responsible or liable in any way to any party, for all or any damage, loss, or expenses arising out of or in relation to errors, omissions, inappropriateness of, or insufficiencies in the information used when issuing credit ratings, R&I's credit ratings or other opinions, or arising out of or in relation to the use of such information or credit ratings, or amendment, suspension, or withdrawal of credit ratings (regardless of the nature of the damage, including direct, indirect, ordinary, special, consequential, compensatory, or incidental damage, lost profits, non-monetary damage, and any other damage, and including expenses for attorneys and other specialists), whether in contract, tort, for unreasonable profit or otherwise, irrespective of negligence or fault of R&I.

As a general rule, R&I issues a credit rating for a fee paid by the issuer.

Rating Methodologies

The methodologies and models R&I uses in connection with evaluation of creditworthiness (collectively, the "Rating Methodologies") are statements of R&I's opinions prepared based on R&I's own analysis and research, and R&I makes no representation or warranty, express or implied, as to the accuracy, timeliness, adequacy, completeness, merchantability, fitness for any particular purpose, or any other matter with respect to the Rating Methodologies. Further, disclosure of the Rating Methodologies by R&I does not constitute any form of advice regarding investment decisions or financial matters or comment on the suitability of any investment for any party. R&I is not liable in any way for any damage arising in respect of a user or other third party in relation to the content or the use of the Rating Methodologies, regardless of the reason for the claim, and irrespective of negligence or fault of R&I. All rights and interests (including patent rights, copyrights, other intellectual property rights, and know-how) regarding the Rating Methodologies belong to R&I. Use of the Rating Methodologies, in whole or in part, for purposes beyond personal use (including reproducing, amending, sending, distributing, transferring, lending, translating, or adapting the information), and storing the Rating Methodologies for subsequent use, is prohibited without R&I's prior written permission.

Linking

Should there be an interest in creating a link to the R&I website, a written request is to be made to R&I in advance. As a rule, the URL of R&I website for linking is restricted to "https://www.r-i.co.jp/eng/".

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