MIRA INFORM REPORT

Report Date :

05.01.2011

IDENTIFICATION DETAILS

Name :	DAIEI PAPERS (USA) CORP.

Registered Office :	505 Independence Pk - Ste 200 - Chesapeake - VA 23320

Country :	United States

Date of Incorporation :	07.12.2000

Legal Form :	Corporation for Profit

Line of Business :	Distributor of paper products

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 1,000,000

Status :	Satisfactory

Payment Behaviour :	Regular

Litigation :	Clear

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 – June 30, 2010

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

United States

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

GEOPOLITICS - UNITED STATES

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal

Economic Risk: Nil

Currency: USD

Branch Situation: Stable

IDENTIFICATION

Ordered as:	Daiei Papers USA Corporation
Address in the order:	505 Independence Parkway Chesapeake VA 23320

Legal Name:	Daiei Papers (USA) Corp.

Legal Address	505 Independence Pk - Ste 200 - Chesapeake - VA 23320 – USA

Telephone:	(757) 523-2100	ID :	0550263-8
Fax:	(757) 523-2075	Legal Form:	Corporation for Profit
Email:	va@daieipapers.com	Registered in:	Virginia
Website:	http://daieipapers.com /	Date Created:	1984
Manager:	Kiyomi Hashizume, President	Date Incorporated:	December, 7th. 2000
Staff:	20	Stock:	6,537,450
		Value:	NA
Activity:	Distributor of paper products

BANKS

Name of the Bank

THE BANK OF TOKYO

BUSINESS

HISTORY
	The company was created in 1984
PRINCIPAL ACTIVITY
	Distributor of paper products
Products/Services description:
	The company’s products include premium coated papers, uncoated printing papers, digital/ communication papers, coated inkjet, and specialty papers.
Sales are:
	Wholesale
Clients:
	Professionals of the industry
Operations area:
	National, International
The company imports from Brazil and the Asian market
The company export to the Asian market and South America
The subject employs 20 employee(s)
PAYMENTS
	made on a 30 days basis - monitored over the last 12 months
LOCATION
Headquarters
	The company is headquartered at: 505 Independence Parkway, Suite 200, Chesapeake, VA 23320 - USA
Branches:
	International sales network (distribution network): Tokyo, Hong Kong, Beijing, Shanghai, Taipei, Singapore, Kuala Lumpur, Jakarta, Manila, Bangkok, Melbourne, Sydney, Brisbane, Auckland, Los Angeles, Sao Paulo and Bangalore.

Shareholders - Manager - Related Companies

Listed at the stock exchange:
	NO
Shareholders Parent Company(ies):
	This is a private company. It operates as a subsidiary of DaiEi Paper International Corporation (DPIC) (Turkey), a company of Kokusai Pulp & Paper (Tokyo, Japan).
Management:
	Kiyomi Hashizume, President Kevin O' Connor, Vice President and Manager
Related Companies:
	DaiEi Papers (H.K.) Ltd. DaiEi Papers (S) Pte. Ltd. DaiEi Papers (SA) Pte., Ltd DaiEi Australasia Pty. Ltd.

Financials - COMMERCIAL TRENDS AND FORECAST

As a private company the subject does not publish any financial statements.

We have contacted Charles Cale, Controller of the company, who provided us with the following data:

Currency	DATE
USD	2010
Turnover	87,700,000
The cash flow is	Normal

Comments on the financial data: Mr. Charles Cale provided us with the financial information (annual sales) of the first eleven months of the year 2010, as they have no financial information for the whole year yet.

Legal Fillings

There is one UCC** file listed with the Secretary of State of Virginia.

There are no legal filings listed with the District Court.

THE COMPANY IS NOT LISTED ON THE OFAC LIST.*

For information:

* The Specially Designated Nationals (SDN) List is a publication of OFAC which lists individuals and organizations with whom United States citizens and permanent residents are prohibited from doing business.

** The Uniform Commercial Code (UCC) is one of a number of uniform acts that have been promulgated in conjunction with efforts to harmonize the law of sales and other commercial transactions in all 50 states within the United States of America.

The UCC deals primarily with transactions involving personal property (movable property), not real property (immovable property).

It allows a creditor to notify other creditors about a debtor’s assets used as collateral for a secured transaction by filing a public notice (financing statement) with a particular filing office.

The Uniform Commercial Code Bureau files and maintains on financial obligations (including IRS liens) incurred by individuals (in business as a sole proprietor), business entities and corporations.

Rating

Local credit bureau gave a Correct credit rate.

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

Final Opinion

This is a small sized American company which employs 20 persons and has 27 years of experience in the market.

A credit line may be consider for USD 1,000,000

SUMMARY

FINANCIAL SUMMARY		DEBT COLLECTIONS AND PAYMENTS
Profitability	CORRECT	Public Records	NO
Indebtedness	CONTROLLED	Payments	REGULAR
Cash	NORMAL

APPENDIX

Person Interviewed
	Mr. Charles Cale
Position
	Controller of the company
Comments
	The person contacted provided us with the following information: - Employees - Management - Bank - Imports and Exports - Payments to suppliers - Annual sales

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.84
UK Pound	1	Rs.69.32
Euro	1	Rs.59.79

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%)

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

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