Business
Report 2019
April 1, 2018 to March 31, 2019

To Our Stakeholders

With the addition of Shimadaya Corporation in April 2018, theMelco Group has a three-business structure of IT-related business,food business and financial business.
This is based on our “Forest-like Management Structure”
concept. It has elevated our ability to respond to changes in theexternal environment and is a major step toward our aim oflasting development and maximization of corporate value for all
our stakeholders.
We consider the next fiscal year ending March 31, 2020 to bea “decisive year.” We will push ahead with internal reform tobecome a company that is needed in this age of population
decline and population ageing. I believe that we can accomplish
reform by having each and every one of our employees, including
management, working to win. We will strive to be able to deliver

Hiroyuki Maki
President and CEO

MELCO HOLDINGS INC.

even more joy to those around the world based on the Melcovalues that consist of the dying wish of our founder and ourmanagement philosophy.
I would like to ask for your continued support andunderstanding in the future. Thank you.


June 2019

Melco Values
A Lasting Company

Rapid Response to Change

We earnestly study and put into practice the teachings of ourpredecessors, and continually look to the future with the aimof achieving perpetual growth for the Melco Group alongwith all those who share our Melco values.

We never shy away from the changes happening in the world
around us and we have the courage to change direction when
we make mistakes. We always strive to improve ourselves andwork hard toward personal transformation.

Customer-Oriented

Solidarity

We always look at things from the perspective of ourcustomers to continue to provide products and services thatplay a part in the realization of even richer lives. We takepleasure in contributing to the development of society
through our wisdom and hard work.

We, in a spirit of fairness and openness, along with people
who share high aspirations and passions, will work together
as one to overcome any difficulties and achieve our goals.

1 Business Report 2019

Policy

Building a Business Portfolio That Can WithstandChanges in the External Environment: Further
Development and Perpetual Growth Toward
Being a Lasting Company
Rapidly-Changing Industry Markets
Due to the Political/Economic
Situation and Extreme Climate

Provision of Value-Added Products
and Services That Capture the
Needs of Society

The Japanese economy in this term recovered against
a background of an improvement in corporate
earnings and employment conditions. However, thefuture continues to be uncertain. This is due to theimpact of the uncertain political situation with theongoing US-China trade friction.
In the digital consumer electronics industry, thePC market for corporate users expanded. This wasdue to demand with the end of basic software
support maintenance. Meanwhile, there was an
upswing in the flat screen TV market as consumers
sought out to upgrade to 4K and OLED TVs due toindustry-wide price reductions. Nevertheless, it waspossible to sense a topping out in the smartphonemarket. Furthermore, although the tablet market forcorporate users was strong, the market for personalcustomers was sluggish.
On the other hand, sales in the raw noodle
industry remained steady with a focus on coldrelated products for both home and commercial use
in the first half of the year due to the fierce heat.
Sales of products in the fall and winter in the second
half of the year were sluggish in the householdmarket due to the high temperatures. Nevertheless,simple functional products that can simplify cooking
operations saw an increase in sales in the businessmarket. Profits were affected by the rise in raw
ingredient prices and energy costs.

Our group is improving management with the aim ofbuilding a solid business portfolio that can also
withstand the rapidly-changing external
environment. In the IT-related business, we havestrived to increase the sales of Apartment Wi-Fi* andBuffalo Regular Data Recovery Service in the service
field while looking to strengthen sales of high valueadded products. These include Wi-Fi routers
equipped with our unique mesh function that offers
a stable connection from anywhere in the house andhard drives that are designed to record television
programs along with a service that moves recorded
programs off the device before a drive failure occurs.
The aim of this is to support the shrinking peripheral
equipment market for personal customers.
Meanwhile, we have worked to strengthen sales of
products that support health, convenience, andseparate meal preferences, as well as increase salesof frozen noodles for commercial use, which is
expected to expand in the food business.
As a result, sales were 108,993 million yen (up50.7% year on year), operating income was 5,959
million yen (up 12.0% year on year), ordinary income
was 6,520 million yen (up 2.5% year on year) andnet income attributable to parent company
shareholders was 3,802 million yen (down 26.4%
year on year) in our results in the fiscal year underreview.
*Wi-Fi is the registered trademark of Wi-Fi Alliance.

Business Report 20192

Policy

Toward Management That
Generates Profits Without Relying
on Sales Growth: Proactive
Development of Usage of Assets
and Growth Investments
The environment surrounding the IT-related businesshas continued to be severe in recent years.
Challenges that should be solved have also been
emerging in the food business (e.g., sudden rise in
raw ingredient prices/distribution costs and ashortage of labor).
Under such circumstances, we are pushing
forward with a management structure that produces
profit without relying on product sales expansion.
We are striving to continue the expansion ofApartment Wi-Fi installations and to increase thenumber of Buffalo Regular Data Recovery Service
orders accepted in the IT-related business. We arealso working to quantitatively increase the sales offrozen noodles for commercial use in the growing
market and to extend the “best before” date of our
Ryusui noodles product, thus aiming to enhance
product value and strengthening sales of healthoriented noodles in the food business. We will also
proactively and speedily reduce loss costs, expandand streamline our service bases, and engage in
M&As to accelerate business growth. Furthermore,
we will solve challenges by effectively utilizing theassets of our group from a company-wide
perspective.
The Melco Group will continue to further
develop and grow on a perpetual basis with the aimof being a lasting company in the future under the
Melco values.

Consolidated Net Sales (Unit: million yen)
108,993
82,55480,04074,55872,319

March
2015

March
2016

March
2017

March
2018

March
2019

Consolidated Ordinary Income (Unit: million yen)
Consolidated Ordinary Income Margin (Unit: %)
6,520
5,294
4,471

8.7

6,359
8.8

6,520

6.6

6.0

5.4

March
2015

March
2016

March
2017

March
2018

March
2019

Net Income Attributable toParent Company Shareholders (Unit: million yen)
Consolidated Net Income Margin (Unit: %)

3,166

3,735
4.7

4,389
5.9

5,164
7.1
3,802

3.8

March
2015

3.5

March
2016

March
2017

March
2018

March
2019

Net Income per Share (Unit: yen)284.36229.88142.57March
2015

3 Business Report 2019187.98171.93

March
2016

March
2017

March
2018

March
2019

Mid-Term Vision “Gateway 2.0”
Providing a safe network for all ofsociety in the IoT era

Home
network
innovations

Eliminating the trouble of“not connected,”“troublesome to connect”
and “scary to connect”
to Wi-Fi in public spaces

Eliminating the trouble of“not connected,”“cannot be connected” and“no longer connected” ofhome Wi-Fi

IoT(Internet of Things)
The era in which various thingsin the world are connectedto the Internet

PublicgatewaysolutionsDatastorage
optimization

Eliminating the trouble of“lost,” “loss fears,”“cannot be reproduced” and“can be used but only slowly” ofimportant data

Business Report 20194

Business Segment

Supporting the Lives and Businesses of Our
Customers with a Three-Business Structure –from IT to Food and Finance
IT-Related BusinessWe provide various products with a focus on digital consumer electronics and computer peripherals. These include
network products (e.g., Wi-Fi), external hard drives for PC/TV recording, and storage products such as NAS for
corporate users that allows enables device monitoring over a network. In addition to these, we also offer products that
add richness to everyday life. These include our Omoidebako digital photo albums and Digital Music Library devices
dedicated to high resolution audio. We also offer various services and solutions for personal customers and corporate
users alike, including our Apartment Wi-Fi Internet service for rental properties and data recovery services for storage
products.

Wi-Fi router

Access point for corporate users

External hard disk

Buffalo Regular
Data Recovery Service

Digital music library

Omoidebako

5 Business Report 2019

NAS for corporate users

Have you lost your HDD data?
Try our data recovery service
before giving up!

NEO FIT mouse

Apartment Wi-Fi

Data recovery service

BCN AWARD
2019
Winner in11Categories(January to December 2018)

These prizes are awarded based on actual
aggregate sales at major electrical appliancestores across Japan.
Wireless LAN
Category

NAS Category

17th consecutive year
17th win

6th consecutive year
6th win

External HDD
Category

Router Category

11th consecutive year
16th win

16th consecutive year
17th win

Hub Category

LAN Card Category

18th consecutive year
19th win

20th consecutive year
20th win

Memory Category
10th consecutive year / 18th win*1

Food
We offer a rich lineup of products including udon noodles,
soba noodles, Chinese noodles, fried noodles, and pasta, as
well as the renowned Ryusui noodles that can be eaten just by
unraveling them with water without boiling – a flagshipproduct that recently celebrated its 30th anniversary. We are
deploying products for family use centered on refrigerated raw
noodles, frozen noodles, cooking noodles and products forcommercial use centered on frozen noodles. We are also
creating new possibilities in the noodles market by continually
making products from the viewpoint of our customers
including attractive noodle dishes and new ways of eating
noodles in addition to providing noodles as an ingredient.

Ryusui Noodles(Soba Noodles)

Ryusui Noodles(Udon Noodles)

Hon Udon Noodles
with 40% Less
Sugar

Hon Udon Noodles
with Zero Table
Salt

Expansion Interface Category

Shinuchi(Thin Wheat
Noodles)

Stone Milled Soba
Noodles Using
Ingredients Producedin Hokkaido

Tenobemasari
Udon Noodles

Clock Tower Ramenwith a Tour of the
Flavors of Hokkaido:
Nostalgic Rich Soy
Sauce Flavor

16th consecutive year / 16th win*2

PC Power Unit Category
8th consecutive year / 8th win

Drive Casing Category
9th consecutive year / 11th win

Graphics Board Category
16th consecutive year / 16th win*1: ‌This is as the Melco Group. We have won this award eight years
in a row for a total of eight times as CFD sales.

FinanceThis business is contributing to the earnings stabilization in the
Melco Group through investment management and financial
instrument intermediary services.

*2: ‌This is as the Melco Group. We have won this award ten years ina row for a total of ten times as CFD sales.

Business Report 20196

Business Overview

Consolidated
Net Sales

Consolidated
Net Income
Operating Income per Share(Unit: million yen)

(Unit: million yen)

(Unit: yen)

Finance
Food
IT-Related

108,993

82,554

5,573

80,04074,558

4,354

5,959
5,319
72,319284.363,512229.88187.98171.93142.57

March 2015

March 2016

March 2017

March 2018

March 2019

■ Finance

1,142

1,550

1,547

2,107

2,306

■ Food̶̶̶̶

35,90081,41278,48873,00970,21070,783■ IT-Related

7 Business Report 2019

Consolidated Net Sales by Segment/Segment Income
IT-Related(Unit: million yen)

70,210Net Sales
Net Sales

64.9%(Unit: million yen)

70,783

4,314
Segment Income

70,7830.8%

million yen

increase year
on year

March
2018

March
2019

3,822
11.4%

3,822

million yen
decrease year
on year

March
2018

March
2019

We have worked to expand sales of high value-added products in the market for personal customers. These products include
Wi-Fi routers equipped with our unique mesh function that offers a stable connection anywhere in the home and external
hard drives with a service that moves recorded programs off the device before drive failure occurs. In addition, we also strove
to strengthen our relationship with partners skilled in PR activities and education-related areas. We did this to continue
increasing the number of installations of wireless LAN devices developed for commercial use in schools. We received a lot of
response in the service field. For example, the number of orders accepted for the Buffalo Regular Data Recovery Service
exceeded a cumulative total of 14,000. Moreover, the cumulative number of units our Apartment Wi-Fi Internet service forrental properties has been installed in exceeded 60,000. Even so, costs took priority due to the impact of an increase inpersonnel by strengthening our service structure. As a result, sales were 70,783 million yen (up 0.8% year on year) andsegment income was 3,822 million yen (down 11.4% year on year).

Food

Net Sales

Net Sales

35,900
million yen

32.9%
Segment Income

1,146
million yen

We increased sales of cold-related products, such as Ryusui noodles that can beprepared without boiling by simply using cold water to unravel them, in the firsthalf of the year against seasons of high heat. Sales of time-limited products(e.g., New Year’s soba noodles) were also strong in the market for family use in
the second half of the year. Nevertheless, sales of seasonal products (e.g., hot
pot noodles) were sluggish due to the excessive days with high temperature. On
the other hand, we worked to strengthen the sales of healthy products. These
include Ryusui noodles, which celebrated their 30th anniversary this year, and
Hon Udon Noodles with zero table salt or 40% reduced sugar. In addition, we
gave consideration to the ease of eating and health of elderly people in thecommercial market. We looked to quantitatively expand Kizami Udon (finely cut
noodles with zero salt) and basic products that address the labor shortage
problem in the restaurant industry. However, profits were sluggish. This was dueto the impact of a significant increase in raw ingredient prices and energy costs.
As a result, sales were 35,900 million yen and segment income was 1,146
million yen.

Finance(Unit: million yen)

2,107

2,306

Net Sales
Net Sales

2.1%(Unit: million yen)

1,334
Segment Income

2,306
9.4%

million yen

increase year
on year

March
2018

March
2019

1,334
22.3

1,091

million yen

increase year
on year

March
2018

March
2019

Sales were steady in the second half of the year. This was despite being under severe market conditions with asimultaneous decline in stock prices across the world. Sales were 2,306 million yen (up 9.4% year on year) and segment
income was 1,334 million yen (up 22.3%).

Business Report 20198

Topics

Interviews with Buffalo Employees

Challenges Facing Program Recording
Data Cleared in a Timely Manner in Line
with Changes to the Law

Extensive Repetition of Hypotheses andVerifications Has Realized Comfortable
Wi-Fi throughout the Home

Storage Products & Services Business Unit

Broadband Solutions Business Unit

Tomohiro Hatada, Storage Marketing Section
Daisuke Hamatake, Storage Development Section

Satoru Yamaguchi and Takahiro Kano,
No. 1 Development Section

It was not possible towatch recorded TV
programs by justsimply moving it toanother hard drive. In
addition, data could
not be recovered after
the drive fails. Therefore, there was a need for asolution for data loss due to drive failure. The
Mimamori Aizu for AV, installed onto hard drives,is an application of a function found on PC hard
drives and uses LEDs to inform users of drive
abnormalities prior to drive failure. In addition,
we developed the Recorded Program Moving
Service to support this. It is a service in which allrecorded data linked by TV and HDD can betransferred. It had not been possible to develop
this service due to the provisions in the CopyrightAct in the past. We conceived of this idea three
years ago and started development on it one year
ago. We had already completed a blueprint as afeasible service in case the act was revised.
Accordingly, we were able to provide this service
at the same time as the revision to the act was
enforced.

The IoT era is one inwhich various devices
are connected on
networks. High speed

HD-LDS-A Series

9 Business Report 2019

HDV-SAMU3-A Series

and strong radio
waves are needed
everywhere in order
to utilize cutting edge devices to the maximum
possible extent. AirStation connect provides astable Wi-Fi environment in all corners of a houseby constructing a communications network calleda “mesh network” that is composed of a baseunit and relay devices. The engineers thoroughly
repeated hypotheses and verifications ofcommunication routes in a model house. They
then proceeded with tuning in line with actual
usage situations instead of a theoretical basis.
The unique algorithm based on those results isthe crystallization of those efforts. We would liketo continue performing analysis in the future byreacting to comments from users on this meshnetwork product that is a first for Buffalo. We
would then like to further improve it.

WTR-M2133HP/E2S Series

30th Anniversary of Shimadaya Ryusui Noodles

Launch of the Melco Kendo Club

Continued to Be Loved for 30 Years:
Ryusui Noodles Continue to Evolve with
Our Unique Technological Strengths
Ryusui noodles, which can be eaten just by
unraveling them in cold water, were created in
May 1988. This product started with four types(e.g., zaru soba noodles and cold noodles) andhas since grown into a product group exceeding
29 types (as of the end of May 2019) over 30
years and developed into a widely-loved brandthanks to repeated creative and ingenious
product updates while adapting to structural andlifestyle changes in the population as a leading
noodle company.

Ryusui Noodles(Udon Noodles)

Ryusui Noodles(Soba Noodles)*Limited 30th anniversary packaging

Secret Story of the Development of Ryusui Noodles
The impetus to develop this product came from adecline in the consumption of boiled noodles inthe summer. “I don’t want to use hot water
because it is the summer.” “I don’t like boilingudon noodles.” It was comments like these thatinspired the idea of noodles that can be eaten
without boiling in which no heat is used. Initially, this was a seasonal product.
However, it is now used throughout the year. We will continue to provide
Ryusui noodles with more deliciousness to eat and convenience to cook
without boiling!

Melco Group Kendo Club:
Targeting the Final Eight in 2019
The Melco Group Kendo Club was launched with
President and CEO Hiroyuki Maki, who isexperienced in kendo, serving as its leader in April
2018. We have joined the All Japan Corporations
and Companies Kendo Federation and the Kanto
Corporations and Companies Kendo Federation.
We participated in the 60th Anniversary Kanto
Corporations and Companies Kendo Tournamentin June 2018. (We were eliminated in the thirdround). We then entered into the 61st All Japan
Corporations and Companies Kendo Tournamentin two teams in September of that year. (The Head
Office Team A was eliminated in the fourth round
while the Kayabacho Team B was eliminated in thesecond round.) In addition, one of our members
participated in the adult and senior section of the
22nd All-Japan Corporations and Companies
Women’s and Adult/Seniors Kendo Tournament inMarch 2019. We train two to three times a monthmostly on the weekends. We have 17 malemembers and one female member – a total of 18
members (current as of March 2019). We are now
seeking female members to participate in female
team events. Our target for this fiscal year is toreach the final eight at both the All Japan
Corporations and Companies Kendo Tournament
and the Kanto Corporations and Companies
Kendo Tournament. Please cheer us on.

List of Awards Won in the Past by Ryusui Noodles
19th

Annual Excellent
Product Award
The Nikkei Ryutsu Shimbun[ 1989 ]40thFood Industrial
Technical Award(Marketing Category)
Shokuhin Sangyo Shimbunsha Co., Ltd.
[ 2010 ]Food Industrial
Technical Award(Technological Idea Category)
Shokuhin Sangyo Shimbunsha Co., Ltd.
[ 1990 ]36th

Food Hit Award
Longtime Seller PrizeJapan Food Journal Co., Ltd.
[ 2018 ]Business Report 201910

Financial Statements

Consolidated Balance Sheet
Item

Fiscal Year Ended
March 31, 2019

(Unit: million yen)

Fiscal Year Ended
March 31, 2018

❶ Assets
Current assets

67,22956,596

Fixed assets

21,446

9,421

Tangible fixed assets

14,264928

Intangible fixed assets

1,068

861

Investments, etc.

6,113

7,631

88,67566,018Current liabilities

28,51018,502

Long term liabilities

5,397

1,018

Total liabilities

33,907

19,520Capital

1,000

1,000

Capital surplus

4,411

902

Retained earnings

57,441

55,146

Treasury stock△7,973△10,791

Total shareholders’equity54,87846,257Net unrealized gains(losses) on other securities

146

445

Deferred gains orlosses on hedges

28

△27

Foreign currencytranslation adjustments

△160

△98

Remeasurements ofdefined benefit plans

△144

△79

Total accumulated othercomprehensive income

△130

239

Subscription right toshares19—

Total net assets

54,76746,497

Total liabilities and net
assets

88,67566,018

Total assets❷ Liabilities❸ Net assets
Shareholders’ equity

Accumulated othercomprehensive income

Notes
1. We have given the listed amounts by rounding down to the nearest million yen.
2. ‌(Reference) We have given amounts for which we have retrospectively applied thechanges to our accounting policy in line with the revision to the accounting standards
for the listed amounts in the previous fiscal year.

11 Business Report 2019

POINT
❶ Assets
Total assets for the fiscal year ended March 31, 2019were 88,675 million yen – an increase of 22,657
million yen compared to the end of the previous
consolidated fiscal year. Current assets totaled 67,229
million yen – an increase of 10,632 million yen. Thischange was mainly due to a 2,772 million yen
increase in cash and deposits, a 4,253 million yen
increase in notes and accounts receivable, and a 1,991
million yen increase in goods and products. Fixed
assets totaled 21,446 million yen – an increase of
12,024 million yen. This change was mainly due to a
13,335 million yen increase in tangible fixed assets
and a 1,517 million yen decrease in investments, etc.

❷ Liabilities
Total liabilities for the fiscal year ended March 31,
2019 were 33,907 million yen – an increase of
14,387 million yen compared to the end of theprevious consolidated fiscal year. Current liabilities
were 28,510 million yen – an increase of 10,008
million yen. This change was mainly due to a 1,480
million yen increase in notes and accounts payable, a5 billion yen increase in short-term debt, current
portion of long-term debt of 1,074 million yen, and a
1,321 million yen increase in accrued expenses. Long
term liabilities totaled 5,397 million yen – an increaseof 4,378 million yen. This change was mainly due to a
2,759 million yen increase in long-term debt and a
1,738 million yen increase in defined benefit plans.

❸ Net Assets
Total net assets for the fiscal year ended March 31,
2019 were 54,767 million yen – an increase of 8,270
million yen compared to the end of the previous
consolidated fiscal year. This change was mainly due
to a 3,508 million yen increase in capital surplus, a2,294 million yen increase in retained earnings, and a
2,817 million yen decrease in treasury stock.

Consolidated Income Statement(Unit: million yen)
Fiscal Year
From April 1, 2018
to March 31, 2019

Fiscal Year
From April 1, 2017
to March 31, 2018

Net sales

108,993

72,319

Cost of sales

80,23953,099Selling, general andadministrative expenses

22,794

13,900Operating income

5,959

5,319

Non-operating income

1,083

1,066

Non-operating expenses

522

27

Ordinary income

6,520

6,359

Extraordinary income

249

1

1,029

8

Item

Extraordinary loss

Consolidated Cash Flow Statement (Unit: million yen)
Fiscal Year
From April 1, 2018
to March 31, 2019

Fiscal Year
From April 1, 2017
to March 31, 2018

Cash flows from operating
activities

5,577

4,090

Cash flows from investing
activities△2,083△733

Cash flows from financing
activities△710△3,579Effect of exchange ratechanges on cash and cash
equivalents

△24

△28

Net increase (decrease) incash and cash equivalents

2,758

△250

Cash and cash equivalents atthe beginning of the period

4,344

4,595

13

—

7,117

4,344

Item

Net income before
taxes and otheradjustments

5,741

6,352

Income, resident andenterprise taxes

1,692

1,392

245

△204

Increase of cash and cash
equivalents after
consolidation

3,802

5,164

Cash and cash equivalents
at the end of the period

Income taxes –deferred
Net income
attributable to parent
company shareholders

Total Assets (Unit: million yen)
Capital to Asset Ratio (Unit: %)88,67565,172
69.2

67,331
66.3

For detailed information:

66,018
70.4

61.7

MELCO HOLDINGS IR

Searchmelco-hd.jp/ir/top
March
2016

March
2017

March
2018

March
2019

Notes
1. ‌We have given the listed amounts by rounding down to the nearest millionyen.
2. ‌(Reference) We have given amounts for which we have retrospectively
applied the changes to our accounting policy in line with the revision to
the accounting standards for the listed amounts in the previous fiscal year.

Business Report 201912

Company InformationJapan
MELCO HOLDINGS INC.
Company
Name

Melco Holdings Inc.

Board Members (Current as of June 21, 2019)
President and CEO

Director

Date of
Incorporation

July 1, 1986

Hiroyuki Maki

Kenichi Fukuhara

Executive Vice President

Director

Capital Stock

1,000 million yen

Tamio Matsuo

Ichiro Hirata

Business
Activities

Pure holding company of Melco Group. Melco Holdings
Inc. is a pure holding company that holds the shares of thegroup’s operating companies. Governs the operatingcompanies in our group by providing support for businessactivities and offering managerial guidance.

Director

Full-time Corporate Auditor

Takehiko Inoue

Masanao Tsuzuki

Director

Auditor

Norio Kinoshita

Akio Oguri

Director

AuditorKuniaki Saiki

Kazuo Ueda

Director

AuditorIwao Tsusaka

Shinji Shibagaki

Director

Auditor

Tadashi Nakamura

Masashi Kitamura

Number of
Employees

Non-consolidated: 28
Melco Group consolidated: 1,822

Number of Group 23 (17 in Japan; 6 overseas)
Companies

BUFFALO INC.
Company
Name
Date ofFoundation

Buffalo Inc.

Date of
Incorporation

August 5, 1978

Capital Stock

320 million yen

Business
Activities
Number of
Employees

May 1, 1975

Development, manufacture and sale of digital home
appliances and PC peripherals
Data recovery service
512

Board Members (Current as of August 1, 2019)
President and CEO

Director

Hiroyuki Maki

Daisuke Maki

Executive Vice President

Director

Tamio Matsuo

Yoshitaka Ikeda

Managing Director

Director

Taiji Watanabe

Kazunori Yokoi

Managing Director

Director

Shingo Tanaka

Takashi Nishiwaki

Managing Director

Director

Manabu Wada

Takeshi Maeda

Director

Director

Ryousuke Yoshizaki

Katsumi Iwasaki

Director

Auditor

Masaya Ishimaru

Haruyuki Takefuji

Director

Manabu Yano

Shimadaya Corporation
Company
Name

Shimadaya Corporation

Date ofFoundation

July 20, 1931

Board Members (Current as of May 14, 2019)
President and CEO

Director

Norio Kinoshita

Ryuta Sugiyama

Senior Managing Director

Director

Shinichiro Soma

Tamio Matsuo

Managing Director

AuditorNobuyuki Obara

Mitsuru AraiManaging Director

AuditorSeishi Toyooka

Date of
Incorporation

March 4, 1949

Capital Stock

1,000 million yen

Business
Activities

Manufacture and sale of noodles and related foodproducts

Isao Iwata

Number of
Employees

323

Kenji Okada

13 Business Report 2019

Managing Director

Stock Information (Current as of March 31, 2019)Stock
CFD SALES INC.

Number of Shares
Outstanding

Development, manufacture and sale of personal
computer parts and peripheral equipment

Number of
Shareholders

22,237,873(including 2,537,468 treasury stocks)

4,378

BIOS CORPORATION
Development, manufacture and sale of storage-related
products

Major Shareholders (Top 10)(1,000 Shares)

Shareholding
Ratio
(%)

11,30857.40（50.85）

Hiroyuki Maki

617

3.14
（2.78）

Daisuke Maki

617

3.14
（2.78）The Bank of Nagoya, Ltd.

501

2.55
（2.26）The Melco Foundation

500

2.54
（2.25）Jun Maki395

2.01（1.78）The Master Trust Bank of Japan,
Ltd. (trust account)

384

1.95
（1.73）

GOVERNMENT OF NORWAY

287

1.46
（1.29）

Hidetomo Oka

259

1.32
（1.17）

Overseas

Hiromi Maki

199

1.01
（0.90）<USA> BUFFALO AMERICAS, INC.

Notes:
1. ‌The number of shares held has been rounded down to the nearest one thousand
2. ‌We have calculated the shareholding ratio based on the total number of outstanding
shares less treasury stocks. We have then given this ratio by rounding up/down the
figures to the second decimal place. The shareholding ratio in the parentheses ( ) is
calculated based on the total number of outstanding shares including treasury stock.

Shareholder NameMELCO SYNCRETS INC.
Development and sale of audio equipment and related
products

BUFFALO IT SOLUTIONS INC.
Network infrastructure construction and maintenanceservices

Makis Inc.

Number of
Shares Held

Advanced Design Corp.
Data recovery/erasure/conversion services andmanufacture and sale of data erasure products

MELCO FINANCIAL HOLDINGS INC.
Overall management of financial business within the
Melco GroupMELCO INVESTMENTS INC.
Investment management and financial instrument
intermediary services

Sale of network-related equipment and PC peripherals<Europe> BUFFALO EU B.V.
Sale of network-related equipment and PC peripherals<Taiwan> BUFFALO TECHNOLOGY (TAIWAN) INC.

Shareholding Distribution byType of Shareholder (Unit: thousand shares)

Procurement and management of the product<Singapore> MELCO CAPITAL PTE. LTD.
Investment management(Current as of March 31, 2019)

Treasury stock
2,537(11.41%)

Individuals
and others
4,039(18.17％)
Foreigncorporations
1,570(7.06％)

Financial institutions
1,946(8.75％)

Number of
SharesOutstanding
22,237

Financial instruments
business operators
131(0.59％)
Other Japanese
corporations
12,012(54.02％)

Notes:
1. The number of shares held has been rounded down to the nearest one thousand.
2. The composition ratio has been rounded off to the second decimal place.

Business Report 201914

Shareholder Notes
Fiscal year-end:

Website Guide
MELCO HOLDINGS INC.

March 31

Ordinary general meeting Juneof shareholders:Dates to determine stock
ownership:

Provides the latest news, corporate information,
information for investors and other data.

For shareholders with voting rights:
March 31
For shareholders eligible for year-end dividends:
March 31
For shareholders eligible for interim dividends:
September 30

https://melco-hd.jp

Stock listings:

First section of the Tokyo Stock Exchange andNagoya Stock Exchange

Securities code:

6676

BUFFALO INC.

Number of shares per
trading unit:

100 shares

Provides product/service information andapplication cases and support information.

Method of public notice:

Posted electronically on
https://melco-hd.jp/koukoku/

Stock agencies:

Sumitomo Mitsui Trust Bank, Limited

Contact information:

Sumitomo Mitsui Trust Bank, Limited, Stock
Transfer Agency Business Planning Dept.
2-8-4 Izumi, Suginami-ku, Tokyo•‌Telephone Inquiries
0120-782-031 (Toll free)
9:00 to 17:00 (Except on Saturdays, Sundays
and public holidays)

Managing underwriter:(Main) Daiwa Securities(Secondary) Nomura Securities,
Mizuho Securities and
SMBC Nikko Securities

https://www.buffalo.jp
Shimadaya Corporation
Introduces a variety of information on
recommended recipes and products.

(Securities code: 6676)

Tokyo Headquarters:

Kayabacho Tower, 1-21-2 Shinkawa, Chuo-ku,
Tokyo, 104-0033 Japan
TEL: 81-3-3523-2250

Nagoya Headquarters:

Akamon-dori Bldg., 3-30-20 Ohsu, Naka-ku,
Nagoya, 460-8315 Japan
TEL: 81-52-251-6891 FAX: 81-52-249-6609

Cover PhotoThis photo was taken at Mel Shop in the Radio Center
Ameyoko Bldg., in Osu, Nagoya in 1978. Makoto Maki is in
the center (29 years old at that time).

https://www.shimadaya.co.jp