MIRA INFORM REPORT

Report Date :

09.12.2014

IDENTIFICATION DETAILS

Name :	ROSY STAR CO., LTD.
Registered Office :	3-19-7, Ueno, Taito-ku, Tokyo 110-0005
Country :	Japan
Date of Incorporation :	06.06.2002
Com. Reg. No.:	0105-02-018844
Legal Form :	Private Limited Company
LINE OF BUSINESS :	TRADER OF JEWELRY, PRECIOUS METAL AND DAILY USE SUNDRIES
No of Employees :	7

RATING & COMMENTS

MIRA’s Rating :

B

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

Status :	Moderate
Payment Behaviour :	No Complaints
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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
Japan	A1	A1

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

JAPAN ECONOMIC OVERVIEW

In the years following World War II, government-industry cooperation, a strong work ethic, mastery of high technology, and a comparatively small defense allocation (1% of GDP) helped Japan develop a technologically advanced economy. Two notable characteristics of the post-war economy were the close interlocking structures of manufacturers, suppliers, and distributors, known as keiretsu, and the guarantee of lifetime employment for a substantial portion of the urban labor force. Both features are now eroding under the dual pressures of global competition and domestic demographic change. Japan's industrial sector is heavily dependent on imported raw materials and fuels. A small agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. While self-sufficient in rice production, Japan imports about 60% of its food on a caloric basis. For three decades, overall real economic growth had been spectacular - a 10% average in the 1960s, a 5% average in the 1970s, and a 4% average in the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely because of the after effects of inefficient investment and an asset price bubble in the late 1980s that required a protracted period of time for firms to reduce excess debt, capital, and labor. Modest economic growth continued after 2000, but the economy has fallen into recession three times since 2008. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan into recession. Government stimulus spending helped the economy recover in late 2009 and 2010, but the economy contracted again in 2011 as the massive 9.0 magnitude earthquake and the ensuing tsunami in March disrupted manufacturing. The economy has largely recovered in the two years since the disaster, but reconstruction in the Tohoku region has been uneven. Prime Minister Shinzo ABE has declared the economy his government's top priority; he has overturned his predecessor's plan to permanently close nuclear power plants and is pursuing an economic revitalization agenda of fiscal stimulus, monetary easing, and structural reform. Japan joined the Trans Pacific Partnership negotiations in 2013, a pact that would open Japan's economy to increased foreign competition and create new export opportunities for Japanese businesses. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2013 stood as the fourth-largest economy in the world after second-place China, which surpassed Japan in 2001, and third-place India, which edged out Japan in 2012. The new government will continue a longstanding debate on restructuring the economy and reining in Japan's huge government debt, which is exceeding 230% of GDP. To help raise government revenue and reduce public debt, Japan decided in 2013 to gradually increase the consumption tax to a total of 10% by the year 2015. Japan is making progress on ending deflation due to a weaker yen and higher energy costs, but reliance on exports to drive growth and an aging, shrinking population pose other major long-term challenges for the economy.

Source : CIA

COMPANY NAME

ROSY STAR CO., LTD.

OUTLINE

Country: Japan

Company name: ROSY STAR CO., LTD.

Name in local language: ROSY STAR, Y.K. (有限会社ロヂスター)

Office address: 3-19-7, Ueno, Taito-ku, Tokyo 110-0005

Office tel: 03-5807-8428

Business type: Trader

Industry: Jewelry, precious metal and daily use sundries

Established: June 6, 2002

Capital: Jp. 20,000,000 yen

Employees: 7

Corporate formation: Private

Corporation No.: 0105-02-018844 (Tokyo Legal Affairs Bureau)

MAJOR SHAREHOLDERS

Paid in capital : Jp. 20,000,000 yen

Number of authorized shares : 2,000 shares

Shares issued : 400 shares

Number of shareholder : 1

Mr. Mangkia Sires, President, holds 100 percent.

DETAILED PRODUCT CLASSFICATION & ACTIVITY

Activity Product/Service Description

-------------------------------------------------------------------------------

Trading Jewelry and precious metal

Trading Daily use sundries

Trading Used items

COMPANY MANAGEMENT

President Mr. Mangkia Sires

Nationality: India

Note: The names of director(s) and auditor(s) are phonetically spelt.

*Key Personnel*

Mr. Mangkia Sires

President and representative director since its establishment

Born on November 26, 1982

Home address: 1-6-14-201, Misuji, Taito-ku, Tokyo 111-0055

FINANCIALS

Currency: (local currency - Jp. yen)

-------------------------------------------------------------------------------------

Year | Sales | Net Income

-------------------------------------------------------------------------------------

2009	719,495,000	4,702,000
2010	799,656,000	5,472,000
2011	821,242,000	5,711,000
2012	856,579,000	6,295,000
2013	918,195,000	7,037,000
2014	1,007,709,000	7,816,000

FINANCIAL DESCRIPTION

*Book Closing*

============

May 31st

*Financials*

==========

As a private limited company, no official financial statement is required to be disclosed publicly.

*Bank Details*

============

n. a.

*Credit Opinion*

=============

The subject is a Tokyo-based small-sized firm specializing in import and wholesale of jewelry and others with 12-year business history.

A steady performance has continued with a constant increase of sales.

Although the exact financial condition is not available due to non-disclosure of its financial statements, there would be a certain amount of retained earnings.

Negative factors are not observed in particular at this moment.

Our standard suggestion would be up to US$ 75,000 on terms of 90 days.

PRODUCT, TECHNOLOGY, SERVICE DESCRIPTION

*Main Products & Services*

======================

Import and wholesale of the following items:

- Jewelry

- Precious metal

- Daily use sundries

Trading of used items

ORGANIZATION STRUCTURE

*Address*

=========

Registered address is the same as the operational address.

*Company History*

================

Date Development

-----------------------------------------------------------------------------------------------

June 6, 2002 Incorporated at the following address:

5-19-4, Ueno, Taito-ku, Tokyo

September 26, 2011 Relocated to the current address.

TRADE REFERENCES

*Suppliers*

==========

Patdiam Jewelry Pvt. Ltd.

Patdiam Pvt. Ltd.

Star Light Jewelry LLC.

*Customers*

==========

Local retailers

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 61.92
UK Pound	1	Rs. 96.37
Euro	1	Rs. 76.10

INFORMATION DETAILS

Analysis Done by :	SMT
Report Prepared by :	DPT

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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