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Certified Public Accountants

3 Kalantas Quezon City, 1301, Manila

September 05, 2020

Shirogane Miyuki
Aniflex Philippines, Inc.
13th Street cor. 1st Avenue, Bonifacio Global City
Taguig 1998, Philippines

RE: Bookkeeping Services and Engagement Letter

Dear Mr. Miyuki:

This letter is to confirm our understanding on the terms and objectives of our engagement
and the nature and limitations of the services we will provide. We will perform the following

1. We will compile, from information you provide, the annual and interim balance sheets
and related statements of income, retained earnings, and cash flows of Aniflex
Philippines, Inc. for the year 2019. We will not audit or review such financial
statements. Our standard form of report on compilation of the annual financial
statements of Aniflex Philippines, Inc. reads as follows:

We have compiled the accompanying balance sheet of Aniflex Philippines, Inc. as

of October 31, 2019, and the related statements of income, retained earnings, and
cash flows for the year then ended, in accordance with Statements on Standards
for Accounting and Review Services issued by the AICPA Accounting and Review
Services Committee.

A compilation is limited to presenting in the form of financial statements

information that is the representation of the management. We have not audited
or reviewed the accompanying financial statements and, accordingly, do not
express an opinion or any other form of assurance on them.

Our standard form compilation report on your interim financial statements, which
will omit substantially all disclosures, includes an additional paragraph that reads as

Management has elected to omit substantially all of the disclosures required by

generally accepted accounting principles. If the omitted disclosures were
included in the financial statements, they might influence the user’s conclusions
about the company’s financial position, results of operations, and cash flows.
Accordingly, these financial statements are not designed for those who are not
informed about such matters.

If, for any reason, we are unable to complete the compilation of your financial
statements, we will not issue a report on such statements as a result of this

2. We will assist your bookkeeper in adjusting the books of account so that he or she
will be able to prepare a working trial balance from which financial statements can
be compiled. Your bookkeeper will provide us with a detailed trial balance and any
supporting schedules we require.

3. We will also prepare the income tax returns for Aniflex Philippines, Inc. for the
fiscal year ended October 31, 2019.

Our engagement cannot be relied upon to disclose errors and irregularities, including fraud
or defalcations, that may exist. However, we will inform the appropriate level of management
of any material errors, and any irregularities or illegal acts, unless they are clearly
inconsequential, that come to our attention.

Our fees will be billed as work progresses and are based on the amount of time required plus
out-of-pocket expenses. Invoices are payable upon presentation. We will notify you
immediately of any circumstances we encounter that could significantly affect our initial
estimate of total fees, which will range from ₱80,000 to ₱440,000.

If this letter expresses your understanding, please sign the copy where indicated and return
it to us.

Sincerely yours,

Certified Public Accountant
Kyo Ano & Company

Accepted and agreed to:

Chief Financial Officer
Aniflex Philippines, Inc.
September 05, 2020