Business Report 2012.4.1

B U S I N E S S
201 2 .4. 1
R E P O R T
201 2.9.30
Melco Group
CORPORATE
DIRECTION
S T R A T E G Y
We are driven by an unquenchable determination to meet new challenges.
Seeking renewed growth in a digital home appliance market driven
Making digital life more enjoyable
by smartphones and tablet devices
Demand is rising for wireless LAN connections in digital electronic devices such as smartphones and tablet devices. We at the
Melco Group have worked hard to expand our presence in the home network market. For example, along with launching the
We at the Melco Group are a team of manufacturers led by Buffalo Inc.
world’s first* high-speed wireless router that supports the next generation IEEE802.11ac wireless LAN standard, we also released
producing a comprehensive range of peripherals for digital home appliances
a wireless router equipped with「AOSS2」that allows users to connect to the network easily from smartphones and tablet
and computers.
devices without any specialist knowledge. In addition, we have developed a battery-equipped Wi-Fi-compatible HDD, allowing it
In the first two quarters of the current fiscal year, the Japanese economy
to be connected to smartphones and PCs alike. This offering makes it easy for users to carry around the data they want to use
showed signs of gradual recovery on the back of reconstruction demand in
with their mobile devices.
areas devastated by the Great East Japan Earthquake. However, economic
This fusion of digital home appliances, home networks and peripherals has resulted in an expansion in digital home applications.
conditions remained unclear, as the overseas economy decelerated in step
By offering high value-added products, our Group will
with the European debt crisis and the domestic economy was slowed down
continue to provide customers with a more diverse and
by the stubbornly high value of the yen.
enjoyable digital life.
In the industry most relevant to our Group, i.e., digital home appliances, the
Expansion of
business in
overseas markets
*As of May 14, 2012; based on in-company research. Specifically refers to the first
growing use of smartphones and tablet devices sparked an expansion of the
over-the-counter sales of a wireless LAN product compatible with the 11ac
standard.
market for peripherals. However, “the backlash” from the rush to buy digital
TVs in the run-up to the termination of analog terrestrial broadcasting
Strengthening the business structure
with the aim of making further
progress in leaps and bounds
resulted in a substantial decline in related markets. In addition, harsh
conditions continued in the PC peripherals market due to weak consumer
confidence.
At the Melco Group, we will drive our business in the digital
Along with striving to secure a higher share of the domestic market, at the
high value-added products. In our quest for ongoing progress,
rapidly expanding smartphone-related market where we were quick to
the most important strategic objectives are the expansion of
launch iPhone® 5*-related products. However, due to a slowdown in sales of
overseas markets and the cultivation of new businesses. To
hard disk drive (HDD) products that came about from sluggishness in the
achieve these objectives, we will invest aggressively in
TV-related market, as well as a drop in sales of network products as a result
education to foster a globally capable workforce and in efforts
of more intense price competition, sales, operating income, ordinary
to establish a platform for new business development. We will
income, and net income all decreased substantially year-on-year.
also undertake fundamental reforms in our organization in
As a result, in consolidated results for the first two quarters of the current
Home
networks
Broadband
order to better prepare the group to seek new growth through
fiscal year, sales were down 18.7% year-on-year to 49,058 million yen,
stronger development and sales frameworks.
operating income fell 77.7% year-on-year to 891 million yen, ordinary
Internet
Ubiquitous
networks
Digital home
Such efforts will be carried out by our Group as a whole with
income decreased 68.7% year-on-year to 1,330 million yen, and net income
the aim of constructing a business structure for the next era
was down 65.7% year-on-year to 880 million yen.
and spurring growth. We believe our Group has a bright future
*iPhone® is a trademark of Apple Inc.
to which you can confidently look forward.
MELCO HOLDINGS INC.
Makoto Maki President and CEO
S t r a t e g y
Development of
new businesses
home appliance peripherals field, a growth market, by offering
Melco Group, we are striving to expand in growth markets, such as in the
01
Diffusion of
digital home-related
products
Seeking growth
with a triple-focus
strategy
S t r a t e g y
02
BUSINESS
OVERVIEW
O U T L I N E
Memory Products
Memory module
microSD card
Supplies & Accessories
Memory modules are designed to increase a computer’s
We offer a full lineup of accessories, ranging from mouses,
memory capacity, resulting in faster and smoother operation
keyboards, webcams and other input devices to cases and
for the user.
protective films for currently popular smartphones and tablet
USB flash drives make it easy for users to carry data with
devices. We make it possible for customers to obtain a
Simpring mouse
them. Here, we offer a full lineup of products ranging from
better and more enjoyable experience with their PCs and
Reversi-port hubs
models with an emphasis on style to those with advanced
digital home appliances by offering accessories in a wide
security. SD and microSD cards, which are primarily used in
range of product groups, ranging from AV-related accessories
digital cameras and smartphones, are continuing to see
like headsets and FM transmitters to USB cables and other
advances in speed and capacity.
wiring items.
Smartphone cases
USB flash drives
Other Products
tDigital Home Products
Storage Products
Our lineup of peripherals is designed to help users enjoy their
digital life. Beginning with Omoidebako, which makes it easy
Storage products are designed to store software and data.
for users to store all the photos and movies they have
tExternal hard disk drives
recorded with their digital camera while sorting them
automatically and enabling viewing on large-screen TVs, we
These are used for saving data created on PCs and for saving
photos and movies taken by digital cameras. The number of
HDD applications continues to increase, as exemplified by
recorders and Choi Tele i, an easy-to-use portable TV tuner
their relatively recent use in recording digital television
for the iPhone , iPad and iPod touch .
broadcasts.
Portable hard disk drive
tNetwork Attached Storage (NAS)
Omoidebako
offer a variety of products in this category including TV
External hard disk drive
portable TV tuner
tOthers
We offer high-spec DOS/V parts under the Kurouto Shikou
A NAS is an HDD that can be connected to a network to allow
(expert-oriented) brand, as well as an in-home PC setup
multiple computers and digital home appliances shared
service for personal users.
Kurouto Shikou brand
The Buffalo Service Alliance Internet setup service
access to the data it holds. A recent noteworthy application of
NAS is in their use to provide private cloud storage, enabling
External hard disk drive for TVs
users to access data stored in a NAS device at home while on
the go via a smartphone or tablet device.
Network attached storage
E xpandi ng Di g i t al Hom e
T ec hnol og y A ppl i c at i ons
ＯＦＦ
ＩＣＥ
AOSS2
Easy setup̶all you need
is a smartphone
The home is no longer the sole domain of
digital content, as it is now possible to enjoy
a variety of new, enjoyable
networks as it does not require troublesome wiring. Its use
experiences to users.
as intelligent switches and wireless access points with built-in
administrator functions.
Web Access
Easy access to users’in-home network attached storage
(NAS), not only from PCs, but also from smartphones
and tablet devices using a dedicated app.
Record a
s
External HDD compatible
with home appliances
(e.g., TVs)
Wireless
LAN
data in yo
u
the
NAS
,view the
otos
m
ph
your TV
on
within corporations is also increasing thanks to products such
Wireless LAN router
Connec
ta
l
smartphones. Wireless LAN in particular is suitable for home
Mobile Wi-Fi
router
Store
all
continue to expand, bringing
e
hom
ur
the Internet with a multitude of devices such as PCs, TVs and
ome
rh
Wireless access point
for business use
with built-in administrator functions
networks and peripherals, will
vices in
e de
yo
l th
ect on the g
nn
o
digital home appliances, home
By using network products, users can share data and access
Co
The digital lifestyle, a fusion of
Store family
a variety of content while on the go.
Network & Broadband Products
program
s
any
m
like
you
as
Internet
R
Omoidebako
Layer-3 gigabit intelligent switch
03
O U T L I N E
*iPhone®, iPad®, and iPod touch® are trademarks of Apple Inc.
O U T L I N E
04
FINANCIAL
INFORMATION
tConsolidated Net Sales
Digita l Home Prod uc ts
(Million yen)
123,749
120,276
116,911
Other products
117,319
24,672
20,957
20,151
Memory products
103,600
25,664
Network products
20,000
16,621
23,607
19,850
Storage products
In the digital home product segment, demand fell
In the supplies and accessories segment, we strove to expand
substantially for both TV recorders and digital tuners
offerings of high value-added products that reflect the needs of
that hook up to analog TVs. As a result, sales volume
users, such as LAN cables with clips that never break*. In addition,
dropped 88.4% year-on-year, and sales revenue fell
while gains were made in products designed for use with
86.7% year-on-year to 692 million yen.
smartphones and tablet devices, products for PCs and TVs did
14,057
not fare as well, resulting in sales volume dipping 1.0%
11,800
year-on-year and sales revenue decreasing 3.7% year-on-year to
27,414
21,425
20,352
Supplies & Accessories
27,309
5,199 million yen.
20,900
*Passed an in-company inspection with 500 bending repetitions.
55,355
55,480
55,038
50,900
50,283
Consolidated Ordinary Income & Consolidated
t Ordinary
Income Margin
Overseas Sales
(%)
(Million yen)
2009/3
2010/3
2011/3
2012/3
2013/3
(Forecast)
10,954
With regard to our overseas operations, while sales in Europe
10,000
were affected by the economic slowdown resulting from the
8,000
region’s debt crisis, in Asia and Oceania, as well as in North
6,000
America and Central and South America, we focused efforts
4,000
on developing markets and expanding sales. As a result,
2,000
0
sales revenue grew 12.8% year-on-year. With developments
Storage Products
7,652
7,132
8.9
4
2,258
2
1.9
2009/3
0
2010/3
2011/3
2012/3
In the storage product segment, we worked to expand the market by launching products such as battery-equipped
made great efforts to strengthen our brand name and
Wi-Fi-compatible HDDs that can be accessed by smartphones and tablet devices. However, sluggish TV sales led to a fall in
enhance our overseas development strategy—our Group’s
(Million yen)
demand for external HDDs used to record TV programs. As a result, sales volume in the segment fell 21.0% year-on-year, and
top-priority issue.
6,000
6
4,990
increased demand for storage products. However, as a result of reduced sales volume due to more intense competition in
2
20,260
15,883
2009/3
7,555
6,430
continued for PC-use memory module add-ons. As a result,
sales volume dropped 21.0% year-on-year, and sales revenue
In the network product segment, while we launched products
In the flash memory product segment, we worked to expand
volume was down 3.1% year-on-year, and sales revenue fell
sales of SD and other memory cards and of USB 3.0-compatible
20.8% year-on-year to 10,506 million yen.
9,751
11.3
5
2.5
2,023
2,495
2012/3
currently available information and may include uncertain
4,813
3,526
3,081
3,007
2011/3
These earnings forecasts have been calculated based on
1,448
1,561
0
2010/3
Forward-looking statements
3,516
3,123
10
9,574
8,491
7,767
2,738
4,248
Europe
15
17.8
10,000
2009/3
2009/9
I N F O R M A T I O N
2012/3
2011/3
20
33,240
16.4
0
USB flash drives. While these efforts helped sales volume grow
F I N A N C I A L
2010/3
41.023
28,652
20,000
2009/3
LAN standard, this initiative was not enough to offset the
falling prices of our conventional products. As a result, sales
revenue falling 1.0% year-on-year to 3,798 million yen.
30,000
8,013
6,554
2012/3
(%)
38,606
40,000
compatible with the next-generation IEEE802.11ac wireless
decreased 20.2% year-on-year to 2,062 million yen.
19.5% year-on-year, a reduction in retail prices led to sales
2,898
6,119
4,456
2011/3
(Million yen)
2,774
4,574
0
2010/3
Consolidated Shareholders’ Equity & Consolidated
t Return
on Equity
8,552
6,063
1
0.6
0
19,246
18,342
Network Products
3
707
1,000
9,740
3.8
2,000
(Million yen)
products for personal use, sales revenue was down 6.9% year-on-year to 5,953 million yen.
4
4.3
3,000
tOverseas Sales
5
4,445
5.1
4,000
In the NAS segment, we launched high-performance NAS products aimed at corporate users and offered new solutions to meet
(%)
6,277
5,000
sales revenue was down 10.9% to 17,851 million yen.
In the memory product segment, the trend of falling demand
6
6.1
6.5
Consolidated Net Income & Consolidated
t Net
Income Margin
Memory Products
8
such as the rollout of a Buffalo section at a mass retailer in
China and the launch of high value-added products, we
05
10
factors. Accordingly, actual earnings results may differ from
2010/9
2011/9
North America, Central & South America
2012/9
these forecasts due to changes in business conditions.
Asia, Oceania
F I N A N C I A L
I N F O R M A T I O N
06
FINANCIAL INFORMATION
tConsolidated Balance Sheet
Item
（Million yen）
As of
September 30, 2012
As of
September 30, 2011
60,987
62,403
64,967
5,664
4,991
5,360
869
940
872
Intangible fixed assets
1,252
1,856
1,492
Investments, etc.
3,542
2,195
2,995
Fixed assets
Tangible fixed assets
Six months ended
September 30,2011
Fiscal year ended
March 31, 2012
Net sales
49,058
60,344
117,319
Cost of sales
40,161
47,590
93,060
8,004
8,751
17,704
Operating income
891
4,002
6,553
Non-operating income
468
333
673
29
87
94
1,330
4,248
7,132
Extraordinary income
−
9
16
Extraordinary loss
16
7
157
1,314
4,250
6,991
Income, resident and enterprise taxes
237
1,489
2,496
Income taxes - deferred
196
198
22
−
△4
26
880
2,566
4,445
Item
Selling, general and administrative expenses
Non-operating expenses
66,651
Total assets
67,395
（Million yen）
Six months ended
September 30, 2012
As of
March 31, 2012
Assets
Current assets
tConsolidated Income Statement
70,328
Ordinary income
Liabilities
Current liabilities
Long-term liabilities
Total liabilities
22,412
24,082
26,402
2,776
3,062
2,902
25,189
27,144
29,304
Net income before taxes and other adjustments
Net assets
Shareholders' equity
Common stock
Additional paid-in capital
1,000
1,000
1,000
774
774
774
Gains (losses) attributable to minority interests
Net income
Retained earnings
Treasury stock
Total shareholders' equity
39,984
38,112
39,548
△60
△60
△60
41,698
39,827
41,262
Item
Accumulated other comprehensive income
Net unrealized gains (losses) on other securities
Deferred gains or losses on hedges
Foreign currency translation adjustments
Total accumulated other comprehensive income
07
78
69
112
1
0
2
△316
△312
△354
△235
△243
△239
Stock option
ー
ー
ー
Minority interest in consolidated subsidiaries
ー
666
ー
Total net assets
41,462
40,250
41,023
Total liabilities and net assets
66,651
67,395
70,328
f i n a n c i a l
I N F O R M A T I O N
tConsolidated Cash Flow Statement
（Million yen）
Six months ended
September 30, 2012
Six months ended
September 30, 2011
Fiscal year ended
March 31, 2012
Cash flows from operating activities
1,381
2,215
640
Cash flows from investing activities
△741
△2,243
△2,146
Cash flows from financing activities
△444
△889
△1,400
Effect of exchange rate changes on cash and cash
equivalents
56
19
△56
Net increase (decrease) in cash and cash equivalents
251
△898
△2,962
Cash and cash equivalents at beginning of period
8,452
11,415
11,415
Cash and cash equivalents at end of period
8,703
10,516
8,452
f i n a n c i a l
I N F O R M A T I O N
08
MELCO
GROUP
tMELCO HOLDINGS INC.
Company Name
MELCO HOLDINGS INC.
Board Members (as of September 30, 2012)
Incorporated
July 1, 1986
President and CEO
Makoto Maki
Capital
1 billion yen
Senior Managing Director
Kuniaki Saiki
Business Activities
Melco Holdings Inc. is a pure holding company
Director
Hidetoshi Yamaguchi
that holds the shares of the group’s operating
Director
Tamio Matsuo
companies. It governs the operating companies
Director
Iwao Tsusaka
and provides support for their business
Director
Hiroyuki Maki
activities and managerial guidance.
Senior Corporate Auditor
Seishi Toyooka
Corporate Auditor
Yasuyuki Kazusa
Corporate Auditor
Mitsuru Koketsu
Number of Employees Non-consolidated: 87;
Melco Group consolidated: 889
Number of Group Companies 18 (10 in Japan; 8 overseas)
The Melco Group
Global Affiliates
MELCO HOLDINGS INC.
tMelco
Holdings Inc. is a pure holding company that holds the
<Taiwan>
shares of the group companies. It governs the group companies
and provides support for their business activities and managerial
guidance.
Akamon-dori Bldg., 3-30-20 Ohsu, Naka-ku, Nagoya, 460-8315, Japan
Tel. 81-52-251-6891 Fax. 81-52-249-6609
BUFFALO INC.
tThe
core brand-name manufacturer of the Melco Group, Buffalo
is a “One-Stop vender” offering wide range of peripherals of
degital home appliances and computers under Buffalo and
iBuffalo brands.
Akamon-dori Bldg., 3-30-20 Ohsu, Naka-ku, Nagoya, 460-8315, Japan
Tel. 81-52-249-6610 Fax. 81-52-249-6609
tBUFFALO INC.
tAiming to be an all-around PC parts supplier, CFD Sales
CFD SALES INC.
Company Name
BUFFALO INC.
Board Members (as of September 30, 2012)
operates under the Kurouto Shikou brand name.
Founded
May 1, 1975
Chairman and CEO
Makoto Maki
Incorporated
August 5, 1978
President and COO
Kuniaki Saiki
Akamon-dori Bldg., 3-30-20 Ohsu, Naka-ku, Nagoya, 460-8315, Japan
Tel. 81-52-249-6606 Fax. 81-50-5830-8824
Capital
320 million yen
Senior Managing Director
Hidetoshi Yamaguchi
Business Activities
Development, manufacture, and sale of peripherals
Director
Tamio Matsuo
for digital home appliances and computers
Director
Masanao Tsuzuki
other services to businesses and consumers
Director
Takashi Ishidoshiro
Director
Taiji Watanabe
Kayabacho Tower, 1- 21-2 Shinkawa, Chuo-ku, Tokyo, 104-0033, Japan
Tel. 81-3-6280-0777 Fax. 81-3-6280-0779
Director
Takeyasu Oshima
Director
Nobuo Hagiwara
Number of Employees 528
Tokyo Branch Office
Corporate Auditor
Nobumasa Kaneko
Corporate Auditor
Seishi Toyooka
Akamon-dori Bldg., 3-30-20 Ohsu, Naka-ku, Nagoya, 460-8315, Japan
Tel. 81-50-5830-8900 Fax. 81-50-5830-8905
BUFFALO LEASE, INC.
tEquipment
leasing services
video broadcasters, etc.
Tel. 81-52-249-6610
Kayabacho Tower, 1- 21-2 Shinkawa, Chuo-ku, Tokyo, 104-0033, Japan
Tel. 81-3-3523-3354 Fax. 81-3-3523-3300
Kayabacho Tower, 1-21-2 Shinkawa, Chuo-ku, Tokyo, 104-0033, Japan
G R O U P
Fax. 81-11-200-8151
7F-8, 18, Lane 609, Sec.5, Chung Hsin Rd.,
San Chung Dist., New Taipei City 241, Taiwan (R.O.C.)
TEL：886-2-2999-9860 FAX：886-2-2999-2264
<China>
MELCO (BEIJING) INC.
tSales
of computer peripherals and broadband-related devices
1155, 11th Beijing New Century Hotel, No. 6 Southern Road,
Capital Gym, Haidian District, Beijing 100044, China
Tel. 86-10-6849-2981 Fax. 86-10-6849-2980
<USA>
BUFFALO TECHNOLOGY (USA), INC.
tManufacture
and sale of computer peripherals and
broadband-related devices
11100 Metric Boulevard Suite 750, Austin, Texas 78758-4072, U.S.A
Tel. 1-512-349-1500 Fax. 1-512-339-7272
<Europe>
BUFFALO EU B.V.
tEuropean
headquarters
Polarisavenue 85, 2132 JH Hoofddorp, The Netherlands
Tel. 31-23-554-6010 Fax. 31-23-554-6019
<Brazil>
BUFFALO TECH DO BRASIL LTDA
tSales
of peripherals for digital home appliances and computers.
Av. Paulista, 1159, conj. 905, Bela Vista, São Paulo, Brazil
Tel. 55-11-3262-0396 Fax. 55-11-3262-0814
BUFFALO DIRECT INC.
tOnline
direct marketer of Melco Group products
Akamon-dori Bldg., 3-30-20 Ohsu, Naka-ku, Nagoya, 460-8315, Japan
Tel. 81-50-5830-8886 Fax. 81-50-5830-8887
MELCO PERSONNEL SUPPORT INC.
tTemp
staffing agency recruiting and dispatching teams of clerical
personnel, mainly to Melco Group companies
Akamon-dori Bldg., 3-30-20 Ohsu, Naka-ku, Nagoya, 460-8315, Japan
Tel. 81-50-5830-8866 Fax. 81-50-5830-8867
LIBERTY SHIP INC.
tOnline
user-to-user and business-to-user communication services
Kayabacho Tower, 1- 21-2 Shinkawa, Chuo-ku, Tokyo, 104-0033, Japan
Tel. 81-3-3523-3368 Fax. 81-3-3523-3300
3rd floor, Hiroshima Intes, 10-10 Hashimoto-cho, Naka-ku, Hiroshima, 730-0015, Japan
Tel. 81-50-5830-8888
09
Fax. 81-92-477-3755
San Keisei Bldg., 1-4-1 Kitaichijo Higashi, Chuo-ku, Sapporo, 060-0031, Japan
Tel. 81-11-200-8150
Hiroshima Sales Office
Fax. 81-22-298-9470
Yaoji Center Bldg., 4-9-2 Hakataekimae, Hakata-ku, Fukuoka, 812-0011, Japan
Tel. 81-92-477-3711
Sapporo Sales Office
Fax. 81-52-249-6601
Miyagino Center Bldg., 4-5-22 Tsutsujigaoka, Miyagino-ku, Sendai, 983-0852, Japan
Tel. 81-22-291-0311
Fukuoka Sales Office
Fax. 81-6-6398-5755
Akamon-dori Bldg., 3-30-20 Ohsu, Naka-ku, Nagoya, 460-8315, Japan
Tel. 81-52-249-6600
Sendai Sales Office
Fax. 81-3-3523-3300
3rd floor, Sumitomo Seimei Shin-Osaka Kita Bldg., 4-1-14 Miyahara, Yodogawa-ku, Osaka, 532-0003, Japan
Tel. 81-50-5533-1250
Nagoya Sales Office
Fax. 81-52-249-6609
and broadband-related devices
to telecommunications carriers,
Akamon-dori Bldg., 3-30-20 Ohsu, Naka-ku, Nagoya, 460-8315, Japan
Tel. 81-3-3523-3333
Osaka Branch Office
BUFFALO MEMORY CO., LTD.
tDevelopment
and sales of electronic components and applied
products
Business locations
Headquarters
BUFFALO IT SOLUTIONS INC.
tPC
setup, network inflastructure development, maintenance and
BUFFALO TECHNOLOGY (TAIWAN) INC.
tManufacturing
management and sales of computer peripherals
C O M P A N I E S
Fax. 81-50-5830-8889
NB: Buffalo Kokuyo Supply was integrated into Buffalo Inc. on April 1, 2012.
G R O U P
C O M P A N I E S
10
tMELCO HOLDINGS INC. Stock Information
(as of September 30, 2012)
Fiscal year-end
March 31
Ordinary general meeting of shareholders
June
Dates to determine stock ownership
For shareholders with voting rights: March 31
For shareholders eligible for year-end dividends: March 31
For shareholders eligible for interim dividends: September 30
Stock listings
First section of the Tokyo Stock Exchange and Nagoya Stock Exchange
Securities code
6676
Number of shares issued
22,237,873 (excluding treasury stock: 22,214,117) (as of September 30, 2012)
Number of shareholders
9,296 (as of September 30, 2012)
Number of shares per trading unit
100
Method of public notice
Posted electronically at http://melco-hd.jp/koukoku/
Transfer agent
Sumitomo Mitsui Trust Bank, Limited
1-4-1 Marunouchi, Chiyoda-ku, Tokyo
Stock agencies
Sumitomo Mitsui Trust Bank, Limited headquarters and all branches in Japan
enquiries
* Telephone
0120-782-031 (toll free) Available 9:00 – 17:00 except weekends and public holidays
Managing underwriters
(Main) Daiwa Securities
(Sub) Nomura Securities, Mizuho Investors Securities, SMBC Nikko Securities
MELCO HOLDINGS INC. (securities code: 6676)
http://melco-hd.jp/
Headquarters:
Akamon-dori Bldg., 3-30-20 Ohsu, Naka-ku, Nagoya, 460-8315, Japan
Tel. 81-52-251-6891 Fax. 81-52-249-6609
BUFFALO INC.
Headquarters:
Akamon-dori Bldg., 3-30-20 Ohsu, Naka-ku, Nagoya, 460-8315, Japan
Tel. 81-52-249-6610 Fax. 81-52-249-6609
Tokyo Branch Office
Kayabacho Tower, 1-21-2 Shinkawa, Chuo-ku, Tokyo, 104-0033, Japan
Tel. 81-3-3523-3333 Fax. 81-3-3523-3300
http://buffalo.jp/