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IT Spending and

Key Technology Forecasts


of Japanese market.
ITR Corporation
Akira MAKINO

www.itr.co.jp
About us.
ITR is an independent IT research and consulting firm. We provide hands-on
advice about technology market, partner evaluations and technology
deployment to drive your business.

Offerings

• IT focused and independent


IT &Business Research (no vendor alliances).
Strategy Business/IT
Consulting • Timely and precise data on product
Business Firm markets and technology trends
Process (product cut, industry vertical).
• Practical advice to support critical
IT Governance decision making.
IT Management
Main Areas of Expertise
Application
• Alignment of business strategy and
IT Research Information Technologies
Architecture / IT IT Service Provider
Firm • Strategic data utilization
Infrastructure
• IT cost / performance benchmarks
Analysis/ Planning/ Development/ • Vendor/product evaluation and
Evaluation Design Deployment selection
• Global IT governance and local
deployment planning

© 2016, ITR Corporation All rights reserved. 1


 Japanese IT market
 IT Spending
 Key topics
 Products and services
 Technologies at a glance
World’s 3rd IT market at steady growth.
• Estimated markets are ; Software(14.6 trillion JPY)、Data processing(4.5
trillion JPY)Online services(2.1 trillion JPY) in 2014.
16,000
(Unit=billion JPY)

14,000
Miscellaneous
2,734
2,787 Market research, opinion survey
2,897 137
12,000 and social survey services
88 186
N.A. 229
217
Information services, except
research and survey
10,000 3,517
2,893
2,892 Data processing, hosting and
related activities
8,000 561 653 +21.6% (2012→2014)
481 469
390 486
184 165 159 Game software services
6,000 +36.0% (2012→2014)

Package software services


4,000 +24.5% (2012→2014)
6,938 7,188 7,028
Embedded software services
2,000
Custom software services
0
2012 2013 2014
(n=3,382) (n=3,433) (n=3,443)
Source:MIC&METI “Information and communications industry survey 2015" 3
Cost effectiveness.
Average system engineer fees in the Japanese market (2016) Unit=1000JPY/month

Tier3(n=223) Tier2(n=198) Tier1(n=282)


HW Inde- HW Inde- HW Inde- Total
User Ave User Ave User Ave
Resell pendent Resell pendent Resell pendent
Consultant 1,367 0 1,221 1,250 1,362 1,504 1,560 1,477 1,891 1,800 1,952 1,907 1,673
Project
1,194 1,250 1,006 1,071 1,600 1,467 1,290 1,436 1,475 1,420 1,612 1,501 1,407
Manager
Senior SE 1,250 1,078 870 903 1,282 1,135 1,082 1,154 1,263 1,186 1,186 1,231 1,142
Middle SE 810 696 782 771 873 876 899 886 969 912 966 958 889
Entry SE 708 603 645 646 792 683 747 737 777 775 801 784 730
Programmer 645 460 615 607 696 576 683 659 731 691 715 720 667
Help Desk 500 383 520 495 494 475 582 520 590 565 600 588 540
System
500 390 421 423 460 522 618 536 496 637 609 539 502
Operator

Company sizes are based on annual revenue; “Tier3”<5 billion JPY, “Tier2” 5-10 billion JPY, “Tier1” <10 billion JPY

Average SaaS pricing in the Japanese market (2016)


Application Tools Pricing
Collaboration e-mail, schedule, online storage 1user 500JPY/month
HR, Payroll 1user 1,000JPY/month
HR
Time and Workforce Management 1user 400JPY/month
Financial Financial management, Planning 1user 10,000JPY/month

Source:ITR , 2016 © 2016, ITR Corporation All rights reserved. 4


Well organized sales channels.
IT Service NW Carrier Communication PC vendor HW vendor Application OA
for ERP, web for MDM, equipment for school, local for Vendor for ECM,
marketing SaaS for security and government virtualization for ISV Medical
appliance
• Consulting • Fixed • Router • Desktop PC • Server • OS • Printer
• SaaS/ASP • Mobile • Switch • Laptop PC • Converged • ERP • Copy
• DC//IaaS • MVNO • LAN/WAN • Thin client infrastructure • CRM • Scanner
• Outsourcing • Cloud/IaaS • Wifi • Tablet • Storage • SCM • Fax
• Call center • Web/TV MTG • Phablet • Tape • BI • All-in-one
• Help desk • Smartphone • Mainframe • DBMS
• System • Feature phone • HPC • Security
operation, • IP phone • Cloud • Auth/ID
surveillance • PBX • Data
integration

Network Integrator Distributor

Reseller

System Integrator

Regional sales

User Company
Major resellers and distributors.
IT Service NW Carrier Communication PC vendor HW vendor Application OA
equipment Vendor

Microsoft Oracle Electronics


Cisco Partners
Partners Partners Retailers

IBM Partners HP Partners


SAP Partners

Regional sales
The Largest IT events in Tokyo.
 Japan IT Week  ITpro EXPO  Interop Tokyo
by Reed Exhibitions Japan by Nikkei BP by NANO OPT media

http://www.japan-it.jp/en/ http://expo.nikkeibp.co.jp/itpexpo/2 http://www.interop.jp/2016/en/


016/english/

 Watson Summit (XCITE)  AWS Summit Tokyo  CEATEC Japan


by IBM Japan by Amazon Web Service by CIAJ, JEITA, CSAJ

http://ibmevent.jp/watsonsummit20 http://www.awssummit.tokyo http://www.ceatec.com/2015/en/


16/

 Developers Summit  Gartner Symposium  Directions


by Shoeisha by Gartner Japan by IDC Japan

http://event.shoeisha.jp/devsumi/2 http://gartner- http://www.idcjapan.co.jp/Seminar/


0160218/ em.jp/symposium2015 directions2016/
© 2016, ITR Corporation All rights reserved. 7
 Japanese IT market
 IT Spending
 Key topics
 Products and services
 Technologies at a glance
IT Investment Index*(FY2001-FY2016)
• The chart shows the secular changes of ”IT investment index*” in last 15years.
• The index is fit for volatile market measurement just like diffusion index.

* Sum of deemed scores divided by respondent number. ex. "Decreased >20%" = -20point "Same" = 0 point "Increased<20%" = 10 point
5

3.88 3.92
4 3.53 3.68

2.90
3 3.61 2.60
2.20
2.93 2.75 2.10
2.74 1.69
2 2.45 2.51
1.44 1.51 1.42
1.95 1.87 1.31
0.83
1 1.46
0.97
0.04
0.60 0.70
0 0.43

-1
-0.98
-2

-3

Actual
-4
Forecast -3.80

-5

Source:ITR "IT Budget & Spending Trends 2016" © 2016, ITR Corporation All rights reserved. 9
IT budget as % of revenue (FY2015, by Industry)
• Average IT Budget against corporate revenue accounts for 2.8%.
• Industry based scores are as below.

Total (N=2,264) 2.8%

Manufacturing (N=720) 1.8%

Construction & Housing (N=243) 1.3%

Wholesale & Retail (N=275) 1.4%

Financial Services (N=172) 8.6%

Communications & IT (N=192) 5.9%

Services (N=467) 2.5%

Public Sector (N=195) 3.1%

(n=2,264/NPO sectors excluded)

Source:ITR "IT Budget & Spending Trends 2016" © 2016, ITR Corporation All rights reserved. 10
IT budget allocation (FY2015, by industry)

(n=2,443)

Source:ITR "IT Budget & Spending Trends 2016" © 2016, ITR Corporation All rights reserved. 11
IT budget as % of revenue (FY2015, by organization size)
• Exclude small businesses (1billion JPY<), IT spending ratios are relevant to
organization size.
• Organization based scores are as below.

Total (N=2,264)

(n=2,264/NPO sectors excluded)

Source:ITR "IT Budget & Spending Trends 2016" © 2016, ITR Corporation All rights reserved. 12
IT budget allocation (FY2015, by organization size)

(n=2,443)

Source:ITR "IT Budget & Spending Trends 2016" © 2016, ITR Corporation All rights reserved. 13
 Japanese IT market
 IT Spending
 Key topics
 Products and services
 Technologies at a glance
Key topics (FY2015 → FY2016)
• “Data security” overcomes the priority of “Data Utilization” in 2016.
• No changes in the Top5 topics. :Up :Down :Same

FY2015 FY2016
1 Contribution to Top-line growth 1 Contribution to Top-line growth
2 Operation cost reduction 2 Operation cost reduction
3 Improvement of customer service quality 3 Improvement of customer service quality
4 IT cost reduction 4 IT cost reduction
Improvement of system performance and Improvement of system performance and
5 5
reliability reliability
6 Strategic data utilization 6 Data integration of legacy systems
Protection of confidential data and personal
7 Data integration of legacy systems 7
information
Protection of confidential data and personal
8 8 Strategic data utilization
information
9 BCP & DR 9 Cyber attack protection
10 Global business support 10 BCP & DR
11 Speed-up of management decision makings 11 Business innovation
12 Work style innovation 12 Speed-up of management decision makings
13 Business innovation 13 Global business support
14 Cyber attack protection 14 Work style innovation
15 Support for Internal control and compliance 15 R&D of cutting-edge technologies
Restructuring of IT organization/subsidiary 16 Support for Internal control and compliance
16
HR development & training of IT staff 17 HR development & training of IT staff
18 R&D of cutting-edge technologies 18 Restructuring of IT organization/subsidiary

Source:ITR "IT Budget & Spending Trends 2016" © 2016, ITR Corporation All rights reserved. 15
Major Technology trends and rate of progression.
• Top trend was “Integration and restructuring of IT Platform” (6 years in a row).
• “Introduction of My number(national ID) system” scored the 3rd position.
• Cloud related topics recorded high positions.
( Strategic weight) ( Rate of progression)
4.0
Strategic weight
73.3% 80%
69.0%
FY2015 Actual
FY2018 Forecast
62.4%
3.3 60.1%
3.0 53.1% 54.2% 53.8% 60%
3.2 52.1% 50.9%
3.0 49.7% 49.0% 51.4%
47.9%
2.8
2.7 2.7 42.7% 44.2% 43.5%
41.4% 41.5%
2.6 2.6 38.8%
2.6
2.5 2.5 2.5 2.5 40%
32.2% 2.4
2.3 2.3 2.3 2.3
2.3
2.0
21.2% 21.3% 22.7%
19.4% 18.5% 18.7%
16.2% 16.9%
14.7% 14.4% 13.5% 14.8% 13.0% 20%
12.9% 11.9% 11.0% 10.6%
8.7%

1.0 0%

Source:ITR "IT Budget & Spending Trends 2016" © 2016, ITR Corporation All rights reserved. 16
Share of risk related expenditure against all IT Budget.
• All risk related expenditures exceeded FY2014 budget.
• “Information Security” and “Disaster Recovery “ recorded the highest in this survey.

12.5%
12.9%
Inf ormation Security 11.5%
14.2%
16.2%

7.0%
7.3%
Disaster recovery 7.9%
9.4% FY2011
10.1% FY2012
FY2013
7.6% FY2014
9.2% FY2015
J-Sox / Internal Control 8.7%
10.4%
12.3%

Source:ITR "IT Budget & Spending Trends 2016" © 2016, ITR Corporation All rights reserved. 17
IT Unit control over organization IT spending.
• IT Unit control over organization IT spending keeps on decreasing.
• In 2015, IT Unit controls less than 50% of total IT spending.

% of IT unit control 0% 25% 50% 75% 100%


over total IT budget 4.6%

FY2013( N=953) 9.7% 15.0% 13.3% 21.1% 17.8% 18.5%

2.9%

FY2014( N=1095) 12.4% 17.7% 15.8% 21.6% 15.4% 14.2%

3.2%

FY2015( N=2429) 14.9% 22.5% 14.3% 19.8% 14.0% 11.3%

0% 10%< 10-24% 25-49% 50-74% 75-99% 100%

Average

FY2013( N=953) 52.7%

FY2014( N=1095) 47.9%

FY2015( N=2429) 42.7%

Source:ITR "IT Budget & Spending Trends 2016" © 2016, ITR Corporation All rights reserved. 18
Global IT budget allocation (Manufacturing/Non-manufacturing)
Manufacturing

Non-
manufacturing

Japan North America Europe China ASEAN Other Asia Middle East, Africa Central and South America

Source:ITR "IT Budget & Spending Trends 2016" © 2016, ITR Corporation All rights reserved. 19
 Japanese IT market
 IT Spending
 Key topics
 Products and services
 Technologies at a glance
Most focused Technology 2016 : by Industry
• Most focused IT product / service areas differ in each industry.

Device / Infrastructure OS / Middleware Application Security / IT Service

• Data Search • Unified • Targeted Attack


Manufacturing • IoT/Censor Network
• Data Integration Communication Protection

• BI/Data Analysis
Construction & • Smartphone • MDM/EMM
• Mobile Apps for Smart • Vulnerability Scanner
Housing • Tablet • Mobile OS(Windows)
Device
• Video/Web
Wholesale & • LTE/4G • Hadoop
conferencing • Vulnerability Scanner
Retail • MVNO • Mobile OS(Windows)
• Self-Service/Workflow
• Network Quarantine
Financial • DaaS • Data Search • Enterprise
• Targeted Attack
Services • Private Cloud • Data Integration Management
Protection
• Software Asset
Communicatio • Server Virtualization • Mobile Apps for Smart
Management • DLP
ns & IT • IoT/Censor Network Device
• Data Integration

• Storage Virtualization • Software Asset • Unified


Services • Vulnerability Scanner
• Tablet Management Communication

• Vulnerability Scanner
• Client PC
Public Sector — — • Targeted Attack
• Server Virtualization
Protection

Source:ITR "IT Budget & Spending Trends 2016" © 2016, ITR Corporation All rights reserved. 21
Most focused Technology 2016 : IT platform and Devices
• “Tablet” and “Smartphone” keep high growth.
• All ”Servers”(High-End/Midrange/PC) forecasts are in low positions. While cloud
related investment (IaaS/ PaaS/SaaS/ DaaS/Private ) are in growth trends.
Investment Index
+8.0

6.0 Tablet
Smartphone
IaaS PaaS
SaaS Server Virtualization
BaaS LTE/4G
4.0 Wi-Fi Storage Virtualization
Private Cloud DaaS
LAN/WAN NW Virtualization/SDN
Remote Access MVNO IoT / Sensor Network
VoIP/SIP Client Virtualization / Thin Client
2.0 3D Printer Wearable PC
Data Center Storage(Additional Disc / DAS)
Storage(NAS・SAN)

0.0 Integrated Systems

Midrange Server / Blade Server


-2.0 PC Server
High-End Server / Mainframe

-4.0
4.0% 8.0% 12.0%
% of “Budget for FY2016” respondents
Source:ITR "IT Budget & Spending Trends 2016" © 2016, ITR Corporation All rights reserved. 22
Most focused Technology 2016 : OS and Middleware
• “Data Integration” “Software Asset Management” “MDM/EMM” are to collect
new prospects in FY2016.
• Investment in “Machine Learning / AI" "Hadoop“ may growth in FY2016.
Investment Index
+8.0

6.0

Machine Learning / AI
Mobile OS(Windows)
4.0 Hadoop
BPM Data Search
Mobile OS(iOS) MDM/EMM
SOA
NoSQL Software Asset Management
2.0 Client OS(Windows)
ITAM(PC) Operation Management Tool
Mobile OS(Android) Data Integration
Application Server
Server OS (Windows) Test Tool
RDBMS IDE
0.0
Client OS(Windows)
Server OS(Linux)

-2.0
Proprietary OS(Mainframe OS)

Server OS(UNIX)
-4.0
4.0% 8.0% 12.0%
% of “Budget for FY2016” respondents
Source:ITR "IT Budget & Spending Trends 2016" © 2016, ITR Corporation All rights reserved. 23
Most focused Technology 2016 : Applications
• Little investment for SoR systems and “Proprietary Applications”.
• “Mobile Apps for Smart Device" draws attention. Real time communications ("Unified
communication” "Video/Web conferencing" ) are at high growth positions as well.
Investment Index
+8.0

6.0 Office suite


Marketing Automation
DMP
WCM
File Sharing/File Transfer BI/Data Analysis
4.0 Procurement Mobile Apps for Smart Device
Sales Management SFA/CRM
Manufacturing EC Video/Web conferencing
Enterprise
HR/Payroll Management Unified Communication
2.0 ERP
Financial Accounting Self-Service/Workflow
EIP Groupware/Collaboration
SCM
Enterprise Social Network ECM
0.0 PDM/PLM
Proprietary Application
(Outsource)

-2.0 Proprietary Application


(In-house)

-4.0
4.0% 8.0% 12.0%
% of “Budget for FY2016” respondents
Source:ITR "IT Budget & Spending Trends 2016" © 2016, ITR Corporation All rights reserved. 24
Most focused Technology 2016 : Security and Services
• “Vulnerability Scanner” and “Targeted Attack Protection“ are at the highest
positions among all the products.
• Limited growth but wide range needs for Outsourcing services.
Investment Index
+8.0

6.0
Antivirus
Anti-Spam/
Phishing Protection Vulnerability Scanner
Firewall / UTM Missending Targeted Attack Protection
4.0 Prevention
Log Management/SIEM
Biometric Authentication Network Quarantine
Outsourcing DLP
Offshore Outsourcing SOC/Managed Security Service
2.0 SSO
IDS / IPS IRM
BPO Digital Forensics
Digital Signature/Timestamp
0.0
Consulting Service

-2.0

-4.0
4.0% 8.0% 12.0%
% of “Budget for FY2016” respondents
Source:ITR "IT Budget & Spending Trends 2016" © 2016, ITR Corporation All rights reserved. 25
 Japanese IT market
 IT Spending
 Key topics
 Products and services
 Technologies at a glance
Cloud (IaaS/PaaS/SaaS)
• IaaS/PaaS market grows at CAGR19.2%, Top3:AWS, NTTCom, Fujitsu.
• SaaS market grows at CAGR12.5%, Top3: SFDC, Softbank, Experian.
• DaaS market t grows at CAGR15.9%, Tops3: Fujitsu, NTT Data, NSSOL.

Japanese IaaS & PaaS market forecasts. Japanese enterprise SaaS market forecasts.
(Unit=billion JPY) (Unit=billion JPY)
350 120

300
100
23.2
250 19.3
80 16.0
6.5
200 12.7 5.7 4.5
4.8 4.2
60 9.7
3.7 3.8 12.2
325 1.9 3.3 11.9
150 6.7 11.4
287 2.8 10.8
4.0 1.8
246 2.3 10.2
40 1.5 9.9
205 1.9 9.5 9.5
100 8.9 9.1
8.6 3.4 3.6
168 8.2 3.1
8.0 2.8 10.3
135 5.0 2.4 9.2 9.7
50 111 20 1.4
2.0 8.0 8.6
7.3
6.3
8.8 9.9 10.7 11.5 12.2 13.0 13.7
0 0
2013 2014 2015 2016 2017 2018 2019 2013 2014 2015 2016 207 2018 2019

Source:ITR “Market View: Cloud Computing 2016" © 2016, ITR Corporation All rights reserved. 27
Cyber Security
• Cyber Security market grows at CAGR11.4%.
• Sandbox-based Gateway Security(22.7%) and DDoS Protection (22.4%)grows fastest.

(Unit=billion JPY) Japanese Cyber Security market forecasts.


140

2.4
120 2.2
2.1
7.5
2.0
1.9 6.8
100 1.8
20.0 Vulnerability Scanner
1.6 6.0
17.8
1.6 Web Tamper Protection Alert
1.3 5.0 15.2
1.4 13.7 DDoS Protection
80 3.9 12.5 13.0
1.1 Sandbox-based Gateway Security
10.0 12.3 6.7
1.2
2.7 11.5 6.5 Web Gateway Security
6.7
0.9 72 6.3 6.2
60 1.0 10.7
6.1 7.4 URL Filtering
1.9 5.7
3.9 9.8 7.3
5.8 5.0 7.1 WAF
9.2 5.5 4.2 7.0
3.4 6.9 IDS / IPS
40 5.1
2.7 6.8 Firewall / UTM
7.1
51.0 55.0
47.0
20 42.5
38.1
33.2
27.0

0
2014 2015 2016 2017 2018 2019 2020
Source:ITR “Market View: Cyber Security 2016" © 2016, ITR Corporation All rights reserved. 28
Big Data Analytics – User survey result

State of Big Data Analytics deployments Recalled IT keywords related to Big Data Analytics

0% 10% 20% 30% 40% 50%


39.4%
Digital Marketing 39.3%
Deployed
9.4% Miscellaneous 38.5%
0.4% Not started Cloud Computing 39.3%
Partly deployed 8.6% 28.8%
IoT 38.6%
8.2%
25.0%
Pilot/PoC underway Cyber Security 30.0%
7.8% General
17.3%
study on Big Future of Work 16.4%
Evaluation phase Data usage 22.1%
27.9% Industrie 4.0 12.1%
8.6%
11.5%
Dedicated Smart City 15.0%
members to 11.5%
examine big data Specific study on Big My Number 13.6%
usage Data effectiveness 9.6%
8.6% Ad Technology 12.9%
20.5%
(N=244) 13.5%
Wearable Device 10.0%
1.0%
Miscellaneous 0.7%
Internal IT Provider (N=104)
IT User (N=140)

Source:ITR “User View: Big Data 2015" © 2016, ITR Corporation All rights reserved. 29
IoT – User survey result
State of IoT deployments
0% 25% 50% 75% 100%

2015 Survey
16% 8% 17% 27% 32%
(N=218)

2014 Survey Areas of IoT deployment


13% 12% 14% 27% 34%
(N=220)
0% 20% 40% 60%
Deployed and will expand Deployed but will not expand
41%
Planned to deploy within 1 year Planned to deploy Security
39%
Have no plans
26%
Remote Monitoring
27%
23%
Sensing
24%
22%
Track and Trace
20%
22%
Payment / POS 21%
13%
Smart Meter 14%
10%
Wearable Device
8%
7%
Telematics 2015 Survey (N=218)
8%
3%
2014 Survey (N=220)
Other
8%
Source:ITR “User View: IoT 2015" © 2016, ITR Corporation All rights reserved. 30
AI – Vendor show case
Divided case (manual)
Daytime
By week day
 Demand Forecast
Monday
By week day and time Nighttime

Daytime
Conventional Monday

Tuesday
Tuesday
Nighttime Asahi Beer adopted
Hybrid Sunday Sunday
Daytime NEC Hybrid Learning
Nighttime
Data technology and had
Divided case (automated)
reduced error rate
Condition A

Hybrid Learning Condition B within 1%.


Condition A Divided case automation
enabled efficient and
Condition B
accurate prediction

People counting system  In-store congestion


distinguishes staff from Machine forecast
customer. AI predicts payment Learning Trial Company is trying
time and alert backyard staff. to minimize customer
waiting time at
shopping.

Phone Input the query  Relation Prediction


query in text
Sumitomo Mitsui Bank
Generate
Appropriate
Answer
Q&A DB
Manuals
pilot PJ achieved 80%
Operator Output
Answer log correctness for 160
Answer Candidate IBM Watson customer queries.
Customer Operator
Answer
© 2016, ITR Corporation All rights reserved. 31
B2B2C Service platforms – fastest growing area
“Money Forward” is a personal money
account aggregation platform started in
December 2012. It connects bank account,
credit card account and shopping receipt
scan data via API links. Now it has 3.5 Money Forward, Inc.
million users and OEM the service platform https://moneyforward.com/
for various banks.

“airCloset” is a fashion rental platform


started in December 2014. The service
had grown up to 200 brands and 75,000
users in 15 months. Funded 1 billion JPY
from laundry shop FC, warehouse AirCloset, Inc.
company and credit card VC in 2016. http://corp.air-closet.com/

“Soracom” is an AWS based IoT platform


started in September 2015. The service
(SIM card and APIs dashboard) has signed
over 2,000 companies and raised 2.4
billion JPY for US (World Innovation Lab, SORACOM, Inc.
Infinity Venture Partners) and more for https://soracom.jp/
ASEAN (Mitsui Corp, Pavilion Capital).
© 2016, ITR Corporation All rights reserved. 32
B2C- New UI, New UX
“Live shell” is an online streaming
appliance released in 2012. The mix-up
of consumer electronics(embedded
system) and online service enables
gradual UI and service improvement. The CEREVO, Inc.
product of 11 employee company is sold https://www.cerevo.com
in 21countries.

“Moverio” is a see through type smart


glasses released in Nov 2011. User can
download apps(entertainment, games,
business etc.) from Apps Market. It can
Seiko Epson, Inc.
be used as a drone monitor, video player
www.epson.com/moverio/
and educational tool.

“Doodle Zoo” is an interactive drawing


animation service for museum and SCs.
Original program (anyscan) was
developed as ”Rakugaki Aquarium” in COCONOE, Inc.
2012 with AD agency Dentsu. https://9ye.jp/
http://doodlezoo.jp/
© 2016, ITR Corporation All rights reserved. 33
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Tel. +81(3)-5304-1304 Fax. +81(3)-5304-1320
mail: makino@itr.co.jp
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