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MJKK or MSFJ (if applicable) hereby discloses that most issuers of debt (including corporate and municipal bonds, debentures, debentures and commercial paper) and preferred stock issuers have been rated by MJKK or MSFJ (if applicable) prior to assigning a credit rating, stated willing to pay fees ranging from JPY100,000 to approximately JPY550,000,000 to MJKK or MSFJ (as the case may be) for the credit assessment reports and services it provides.
MJKK and MSFJ also maintain policies and procedures to meet Japanese regulatory requirements.