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Additional Terms for Japan Only: Moody’s Japan KK (“MJKK”) is a wholly owned subsidiary of rating agency 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 KK (“MSFJ”) is a wholly owned subsidiary of rating agency MJKK. MSFJ is not a Nationally Recognized Statistical Rating Organization (“NRSRO”). Therefore, the credit ratings assigned by MSFJ are non-NRSRO credit ratings. Non-NRSRO ratings are assigned by a non-NRSRO entity, and consequently the rated debt does not qualify for certain types of treatment under US law. MJKK and MSFJ are rating agencies registered with the Japan Financial Services Agency and their registration numbers are FSA Commissioner (Ratings) No. 2 or 3.
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.