MIRA INFORM REPORT

Report Date :

03.07.2008

IDENTIFICATION DETAILS

Name :	SOKO CO LTD

Registered Office :	1-1-10 Nihombashi-Ningyocho Chuoku Tokyo 103-0004

Country :	Japan

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security

Status :

Moderate

name & address

SOKO CO LTD

REGD NAME: Soko KK

MAIN OFFICE: 1-1-10 Nihombashi-Ningyocho Chuoku Tokyo 103-0004 JAPAN

Tel: 03-3861-6371 Fax: 03-3861-3432

URL: N/A

FINDINGS

The subject firm was mfr of artificial turf for footsul plastic garbage bags but bankrupted on 19/Dec/2007 and sought rehabilitation under Civil Rehabilitation Law. The liabilities are re ported at Yen 2,500 million to Yen 3,090 million. Revenues declined to Yen 1,978 million from previous Yen 2,870 million. Disposed real assets and restructuring efforts including staff cuts but operations are still in the dark. Reportedly Iris Oyama Inc, DIY goods mfr, Sendai, volun- teered to sponsor the firm.

OFFICERS

Isao Maki, ch

TETSUO MAKI, PRES

Yen Amount: In million Yen, unless otherwise stated

SUMMARY

FINANCES WEAK A/SALES Yen 1,978 M

PAYMENTS -- CAPITAL Yen 230 M

TREND STEADY WORTH Yen 701 M

STARTED 1954 EMPLOYES 110

COMMENT

MFR SPECIALIZING IN ARTIFICIAL TURF. FINANCIAL SITUATION

CONSIDERED WEAK AND NO CREDITS RECOMMENDED.

Bank References

Mizuho Bank (Yokoyamacho)

Resona Bank (Akihabara)

Relations: Pending

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.43.21
UK Pound	1	Rs.85.72
Euro	1	Rs.67.92

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions