MIRA INFORM REPORT

Report Date :

25.07.2012

IDENTIFICATION DETAILS

Name :	WAL MART JAPAN HOLDINGS LLC

Registered Office :	2-1-1 Akabane Kitaku Tokyo 115-0045

Country :	Japan

Date of Incorporation :	February, 2009

Com. Reg. No.:	0115-03-002016

Legal Form :	Limited Liability Company

Line of Business :	Holding company of GK Seiyu, retail chain store operator, at the caption address, operating 368 chain stores nationwide

No. of Employees :	05

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Moderate

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, 2011

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Japan

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

COMPANY NAME

WAL MART JAPAN HOLDINGS LLC

REGD NAME

Wal Mart Japan Holdings GK

MAIN OFFICE

2-1-1 Akabane Kitaku Tokyo 115-0045 JAPAN

Tel: 03-3598-7760

URL: http://www.seiyu.co.jp (of the subsidiary, GK Seiyu)

E-Mail address: info@seiyu.co.jp

ACTIVITIES

Holding company of GK Seiyu and group firms

BRANCHES

Nil

OFFICERS

STEVE DACUS, PRES

Yen Amount: In million Yen, unless otherwise stated

SUMMARY

FINANCES UNDETD A/SALES Yen Unavailable

PAYMENTS UNKNOWN CAPITAL Yen 10 M

TREND UNDETD WORTH Yen Unavailable

STARTED 2009 EMPLOYES 5

COMMENT

HOLDING COMPANY OF GK SEIYU & GROUP FIRMS.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

HIGHLIGHTS

The subject company was established by Wal Mart Stores Inc, USA, as a holding company of GK Seiyu and its group firms. GK Seiyu is a retail chain operator, at the caption address, operating 368 chain stores nationwide, selling food, apparel, general merchandising, other. GK Seiyu last reported sales at Yen 835,741 million, with net losses of Yen 2,570 million for Dec/2009 fiscal term. Ever since, no financials are released.

FINANCIAL INFORMATION

Financials are not disclosed.

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

REGISTRATION

Date Registered: Feb 2009

Regd No.: 0115-03-002016 (Tokyo-Kitaku)

Legal Status: Limited Liability Company (Godo Kaisha)

Authorized: 200 shares

Issued: 200 shares

Sum: Yen 10 million

Major shareholders (%): Wal Mart Stores Inc, USA (100)

Nothing detrimental is known as to the commercial morality of executives.

OPERATION

Activities: Holding company of GK Seiyu, retail chain store operator, at the caption address, operating 368 chain stores nationwide (--100%)

Payment record: Unknown

Location: Business area in Tokyo. Office premises at the caption address are owned by GK Seiyu and maintained satisfactorily.

Bank References:

Mizuho Corporate Bank (Uchisaiwaicho)

Relations: Satisfactory

FINANCES

(In Million Yen)

NOT DISCLOSED AND UNAVAILABLE

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.56.02
UK Pound	1	Rs.86.89
Euro	1	Rs.67.84

INFORMATION DETAILS

Report Prepared by :

SDA

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.