MIRA INFORM REPORT

Report Date :

15.06.2011

IDENTIFICATION DETAILS

Name :	AG HOSHOKU CO LTD

Registered Office :	4-10-21 Minamisemba Chuoku Osaka 542-0081

Country :	Japan

Date of Incorporation :	November 2010

Com. Reg. No.:	1200-01-154749 (Osaka-Chuoku)

Legal Form :	Limited Company

Line of Business :	Import, Export, Wholesale of diamonds, diamond jewelry

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
----	NB	New Business	----

Status :	New 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 – March 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Japan

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

Bottom of Form

Company name

AG HOSHOKU CO LTD

REGD NAME

AG Hoshoku KK

MAIN OFFICE

4-10-21 Minamisemba Chuoku Osaka 542-0081 JAPAN

Tel: 06-4963-2188 Fax: 06-4963-2188

URL: N/A

ACTIVITIES

Import, export, wholesale of diamonds, diamond jewelry

BRANCHES

Nil

FACTORIES

(subcontracted)

OFFICERS

LODHA A KUMAR, PRES

Yen Amount: In million Yen, unless otherwise stated

SUMMARY

FINANCES UNDETD A/SALES Yen 200 M*

PAYMENTS Unknown CAPITAL Yen 5 M

TREND UNDETD WORTH Yen 5 M

STARTED 2010 EMPLOYES 1

*.. Annual target only

COMMENT

IMPORTER & EXPORTER OF DIAMONDS & JEWELRY.

FINANCIAL SITUATION UNDETERMINED DUE TO THE RECENT INCEPTION AND WITHOUT PROVEN BUSINESS BUT SHOULD E GOOD FOR MODERATE BUSINESS ENGAGEMENTS.

MAX CREDIT LIMIT: UNABLE TO BE ASSESSED DUE TO THE SAME REASON.

HIGHLIGHTS

The subject company was established by Lodha A Kumar, an Indian resident, in order to make most of his experience in the subject line of business. He has been living in Japan for 6 years, speaking fluent Japanese. This is a one-man operated trading firm for importing, exporting and wholesaling diamonds and diamond jewelry. Goods are imported centrally from India, and Hong Kong. Diamonds are partially outsourced mfg into diamond jewelry.

FINANCIAL INFORMATION

The sales are targeted at Yen 20 million/month for the initial one year term ending Dec/2011, says L A Kumar..

Both the financial situation and business trends are not determined due to the recent inception but should be good for MODERATE business engagements. Max credit limit is unable to be assessed in the lack of proven business records.

REGISTRATION

Date Registered: Nov 2010

Regd No.: 1200-01-154749 (Osaka-Chuoku)

Legal Status: Limited Company (Kabushiki Kaisha)

Authorized: 2,000 shares

Issued: 100 shares

Sum: Yen 5 million

Major shareholders (%): R A Kumar (100)

Nothing detrimental is known as to his commercial morality.

OPERATION

Activities: Imports and wholesales diamonds, diamond jewelry, other (--100%).

Clients: Jewelry stores, jewelry processors, consumers, other

No. of accounts: Unavailable

Domestic areas of activities: Centered in greater-Osaka

Suppliers: [Mfrs, wholesalers] Imports from India centrally, other from Hong Kong, other.

Payment record: Regular

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

Bank References:

SMBC (Namba)

FINANCES

(In Million Yen)

NOT YET MADE AVAILABLE

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.77
UK Pound	1	Rs.73.45
Euro	1	Rs.64.55

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.