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Additional terms for Japan only: Moody’s Japan K.K. (“MJKK”) is a wholly owned credit rating agency of Moody’s Group Japan GK which is wholly owned by Moody’s Overseas Holdings Inc., a wholly owned subsidiary of MCO. Moody’s SF Japan K.K. (“MSFJ”) is a credit rating agency wholly owned by MJKK. MSFJ is not a Nationally Recognized Statistical Rating Organization (“NRSRO”). Therefore, the credit rating assigned by MSFJ is a Non-NRSRO credit rating. Because non-NRSRO credit ratings are issued by entities that are not NRSROs, the rated obligations are not eligible for certain types of treatment under US law. MJKK and MSFJ are rating agencies registered with the Financial Services Agency, and their registration numbers are FSA Commissioner (Rating) No. 2 and 3, respectively.
MJKK or MSFJ (as applicable) recognizes that most issuers of debt securities (including corporate bonds, municipal bonds, debentures, notes and commercial paper) and preferred stock rated by MJKK or MSFJ (as applicable) are credit We hereby disclose our holdings prior to assigning a rating. agreed to pay a fee ranging from ¥100,000 to approximately ¥550,000,000 for credit rating opinions and services provided by , MJKK or MSFJ (as applicable).
MJKK and MSFJ also maintain policies and procedures to meet Japanese regulatory requirements.