MIRA INFORM REPORT

Report Date :

13.12.2011

IDENTIFICATION DETAILS

Correct Name :	FRANGE CO LTD

Registered Office :	2-33-103 Sumiyoshicho Kizuki Nakaharaku Kawasaki 211-0021

Country :	Japan

Date of Incorporation :	August 2010

Com. Reg. No.:	0200-01-086744 (Kawasaki-Nakaharaku)

Legal Form :	Limited Company

Line of Business :	Import, wholesale of meat products, wines (starting to import)

No. of Employees :	3 persons

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Small Company
Payment Behaviour :	Unknown
Litigation :	---

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30^th, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Japan

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company name

FRANGE CO LTD

REGD NAME

KK Frange

MAIN OFFICE

2-33-103 Sumiyoshicho Kizuki Nakaharaku Kawasaki 211-0021 JAPAN

Tel: 044-422-7907 Fax: 044-422-7907

URL: N/A

ACTIVITIES

Import, wholesale of meat products, wines (starting to import)

BRANCHES

Nil

OFFICERS

MOTOAKI NISHIKAWA, PRES

Yen Amount: In million Yen, unless otherwise stated

SUMMARY

FINANCES UNDETD A/SALES Yen 70 M

PAYMENTS Unknown CAPITAL Yen 3 M

TREND UNDETD WORTH Yen 3 M

STARTED 2010 EMPLOYES 3

COMMENT

TRADING FIRM SPECIALIZING IN MEAT PRODUCTS.

FINANCIAL SITUATION UNDETERMINED DUE TO THE RECENT INCEPTION BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.

MAX CREDIT LIMIT: UNABLE TO BE ASSESSED DUE TO THE RECENT INCEPTION AND WITHOUT PROVEN BUSINESS

HIGHLIGHTS

The subject company was established by Motoaki Nishikawa in order to reactivate a sleeping company, YK Frange, founded in 2004. This is a trading firm specializing in import and wholesale of meat products, all from Chile. The firm is now negotiating to import wines from Chile, says M Nishikawa. ,

FINANCIAL INFORMATION

The sales volume for the initial accounting term of Aug/2011 fiscal term amounted to Yen 70 million, on a break-even profit basis. We have obtained the figures directly from Motoaki Nishikawa himself, and not verified by the outside sources.

Both the financial situation and business trends are not determined due to the recent fixture but should be good for MODERATE business engagements. Max credit limit is unable to be assessed due to the recent inception and without proven business records by the third parties.

REGISTRATION

Date Registered: Aug 2010

Regd No.: 0200-01-086744 (Kawasaki-Nakaharaku)

Legal Status: Limited Company (Kabushiki Kaisha)

Authorized: 200 shares

Issued: 60 shares

Sum: Yen 3 million

Major shareholders (%): Motoaki Nishikawa (100)

Nothing detrimental is known as to his commercial morality.

OPERATION

Activities: Imports and wholesales meat products (100%)

Clients: Food processors, chain stores, other

No. of accounts: Limited

Domestic areas of activities: Centered in greater-Tokyo

Suppliers: [Mfrs, wholesalers] Imports from Chile

Location: Business area in Kawasaki. Office premises at the caption address are leased and maintained satisfactorily.

Bank References:

· Mizuho Bank (Yutenji)

Relations: Money deposits and transfers only

FINANCES

(In Million Yen)

NOT YET MADE AVAILABLE

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.42
UK Pound	1	Rs.81.92
Euro	1	Rs.69.94

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	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
----	NB	New Business	----

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.