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Friday, May 18, 2018

Friday Feature Book Review: Japan Sales Mastery (Lessons from 30 years in Japan) : Dr. Greg Story 日本セールスマスター(日本で30年間のレッスン): グレッグストーリー

Business only starts, when a sale is made, so this book is a nice surprise. It can be enjoyed in 2 main ways. If you need to learn how to sell as an entrepreneur or in a new role you take on, this is perfect. However, if you already sell, it also teaches you new ways to sell to customers or clients that you may not sell to well today. Can you sell to all 5 types of customers or clients, or just 1 or 2? Having been in sales for most of my career, learning new ways to recognize customers I was weak selling to, was a wonderful surprise. 

Many of these proven techniques originally come from Dale Carnegie. Principles that are over 100 years old, with over 50 years of success in Japan. If Warren Buffet, perhaps the world's most successful investor to date, claims his Dale Carnegie course changed his life, and upgraded his business skills, who am I to argue? Could this even be a basic core reason as to why he is a billionaire, and I am not, at least not yet. Although set in Japan, this is more about international sales. It easily can be a guide on how to sell to a buyer of a different nationality. This is mainly about how to assume less, and listen more, and then discover needs you can provide.


Sales is a process, and can be learned young or old, and the basic building blocks are explained in a very clear fashion. I thought this book would be about selling only in Japan, but I was wrong there too. It is more a guide on how to better perform within international sales of any kind. I learned how you can assume less, listen more, and really learn want your customer wants. That was the true value in this book. The author does a great job at giving clear examples on how many sales people fail to close deals. More importantly, you learn how to improve, get better and make more sales more often. 

I never thought about the 5 kinds of very different buyers described before, or how to best appeal to each of them. Each buyer has a preferred way of being sold to. Often one sales person tries only one or two ways only to sell to a wide variety of types. 5 are below, but there are many others.

1) Visual types => How does this look to you?
2) Audio types => How does that sound so far?
3) Tactile types => Can you get your hands around this?
4) Logical types => Does this seem logical to you so far?
5) Emotional types => How do you feel about this so far?

What you learn most out of this book, is what you may be doing wrong. If you can learn more about the types of buyers, you can adjust your style, and sell more often. For anybody who sells any amount, selling more is always the goal. Many of the tips help you realize where you may need to increase any weaknesses in your sales skills. You can always get better, but I never considered you could get better with customer types you never closed before. That is a great realization moment.

The Top 3 Takeaways from this book that impact any reader are:

1) For top sales results, there must be time to listen. Instead of first selling by speaking fast and overloading buyers with facts, listen to what buyers need first. Listen first, reply after.

2) The more you can listen, even as much as 80% of a conversation from a buyer, the more you can sell. You can be more clear with any solution if you know what the buyer needs. You can refine a much better sales solution more often & more quickly.

3) The mindset you need to sell requires work. Any top sales person needs to find ways to keep any sales effort improving. This can be by finding better satisfaction from proposing worthwhile solutions for buyers.

The amount of solid ideas on how to improve your selling ability, or start a solid process for the first time is excellent. It performs both types of sales instruction very clearly. No matter how good you are at sales, there is always something to learn. If already learned, then maybe tweaked in a new way for a new kind of buyer. As a process, sales does evolve, and the best sales people evolve along with it. 


Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, services and anything else with a financial theme. Follow us now for our free weekly updates, just click hereThank you for reading and learning more about how money is made in finance! Order it on Amazon!

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Linkedin Instagram or TwitterWe are the world's #1 recruiter on Twitter, with over 60,000+ followers globally! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズLinkedin Instagram またはTwitterでフォローしてください 世界中のTwitter第1位リクルーター60,000以上のフォロワー既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.

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      Mark  Pink                               Shinichi Nagasawa
Direct + 81 3 3505 3891              Direct + 81 3 3505 3891

Friday, May 11, 2018

Friday Feature Book Review: Swimming with Sharks (A Hedge Fund Journey): Joris Luyendijk なぜ僕たちは金融街の人びとを嫌うのか? (ヘッジファンドの物語): ヨリス ライエンダイク

This is an excellent overview of the World of Finance and its unique culture. The author started the project knowing nothing about anything financial. Via interviews he figures out as a true beginner how all of the parts fit together. This was a blog project started by the UK newspaper "The Guardian" and gained a lot of popularity. Many in the public started bashing bankers of all types. We learn that, "it is not the people that are bad, it's the culture". One defense was curious. Saying that all bankers are bad is like saying "all athletes are bad because a few are caught for doping". I can see the logic now with that observation.

We learn a lot about the functions of different people with a bank versus a securities company versus a regulator. We learn about how front office traders (the tigers) differ from those within middle (the type B personality chimpanzees) or back office function (the worker bees). All are considered "bankers" but only a few seem to be the ones who the media go on about, the top 5% of earners. I like the saying, " this job involves selling your soul for a good salary", that does seem correct.

How did the financial crisis begin in 2008 anyway? Who was responsible? Why hasn't anybody gone to jail? This was a basic starting point of the blog, but many layers of the financial world are explored. It was important to understand how it worked, or didn't in many key cases. The first thing the author discovers is the "unspoken understandings" that exist within any bank. As an outsider, the author finds out what you can ask about and can't very quickly. he also finds out that no single person, or entity can really be pointed out as uniquely responsible for the crisis.

For anybody already working inside a financial institution, it all rings very true. For anybody looking to get into finance or switch careers, this can be a big eye opener. It really explains what the culture is like, who the people are, and what types seem to do well in certain kinds of roles. As far as a bigger picture on finance though, other thoughts are insightful. Are investment banks "too big to fail" or are now just "too big to save". Are they in fact "too big to manage" anymore? When too many in senior roles do not know what others in the bank are really doing, isn't this a bad sign? 

The Top 3 Takeaways from this book that impact any reader are:

1) There is no single person or small group who was responsible for the Great Financial Crisis of 2008.

2) A globally integrated system of finance with weak laws & guidelines was the true root cause of the crisis.

3) Nothing major has changed within this financial system, and a new trigger like an IT glitch could start a bigger crisis.

I come away with more questions on what "should be done by the end. It seems that even for an outside, the system has grown out of control by management and the regulators. How can this be fixed or improved? The amoral nature of the shareholders who now own most of these publicly listed firms, have no real interest in changing the system today. The whole worldwide financial system is interconnected and works in ways it was never intended to. A kind of global evolution gone wrong. It does not matter if Quants, Artificial Intelligence or any other FinTech innovations develop in future. 

The core foundation of global finance seems to need a big re-think. The biggest question is will the world make the changes in time, or will a meltdown in a bigger future crisis force this change only later? Investment Banks, Private Banks, Asset Management, Insurance or any other part of the financial system may need to be redone. I do not have all of the answers today, but after reading this book, I certainly feel that know what issues need to be addressed. Highly Recommended!


Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, services and anything else with a financial theme. Follow us now for our free weekly updates, just click hereThank you for reading and learning more about how money is made in finance!

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Linkedin Instagram or TwitterWe are the world's #1 recruiter on Twitter, with over 60,000+ followers globally! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズLinkedin Instagram またはTwitterでフォローしてください 世界中のTwitter第1位リクルーター60,000以上のフォロワー既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.

Tokyo                                          Tokyo




      Mark  Pink                               Shinichi Nagasawa
Direct + 81 3 3505 3891              Direct + 81 3 3505 3891

Friday, May 4, 2018

Friday Feature Movie Review: Arbitrage: Richard Gere (Hedge Fund Thriller!) キング・オブ・マンハッタン : リチャード・ギア (ヘッジファンドのスリラー!)

Money, Sex and Power are all here. Our hero is a hedge fund manager wanting to sell his business. Nothing wrong with that, but he has to sell. That is never an easy place to be. Life is good at the top, but when a mistress ends up dead, and the police start asking questions, life even at the top of finance, gets complicated.

Richard Gere plays the patriarch of a family owned investment firm. It is large and well established like the Gabelli Funds, but without the brightness of a younger generation. We first see the public face on CNBC and other channels, but his life behind the scenes is not for public viewing. Manhattan is full of flash and affluence, but the people serving the rich, are also part of the same world. Good people you need to rely on. Loyalty from long-term staff can never be overestimated. It can even be life saving.

There seems to be a hole in the balance sheet, not a stolen money hole like Madoff, but more a funding hole caused by Russian markets. It is a big gap that needs to be filled by a Ultra HNWI loan. Help that gets frustrated when the 2 week period takes longer longer than expected to repay. When trying to pass a final audit, that kind of loan is the type that is best not found.

How can you sell after an audit investigation when the accounting books are questionable? Drama and tension continue all through this story, and never seems to let up much. It may look wonderful from the outside, but the life of this hedge fund manager, at the center of the story, is far from comfortable, and never easy.

Susan Sarandon plays the wife, poor in the early days like her equally hungry husband, but monetary success came ultimately. She was tolerant of affairs as the money came, but everything has a limit. When cash flow trouble over a medical charity donation gets delayed, a backup plan begins. 

It is every money manager's worst nightmare, a divorce lawyer, with no pre-nup, enters the story. That is true fear when you are over 60, a founder trying to sell, looking at a retirement exit, and not getting much room to maneuver. Major markets can be scary when you need to make money, not just desire to do so. Emerging markets can also be the most scary due to unexpected events. Every experienced market player knows those risks, and often has the scars to prove it.

The Top 3 Takeaways from this book that really impact any reader are:

1) There is a lot to learn about how to be a long-term successful rainmaker, and no single profit stream with last forever.There is no single way to success, so keep open to every new trading opportunity.

2) The best rainmakers know how to make money and keep doing what they do best by observing key decision makers and possible patterns. Knowing what buttons to press to close a deal at the best price is the EQ magic that many lack, not IQ, that only gets you to the table.

3) When becoming a successful rainmaker, your emotional strength from family at home, may help you perform on deals at work. Every person has a personal life, so the more empty or fulfilling it is, the more that can creep into personal performance. It cannot be denied.

The police detective played by Tim Roth, is spot on. He brings the most raw and tasty character to this big screen movie. There are many curious moments in this New York financial story when he is on camera. The old style face to face sale of the firm and how it goes down, is classic and very much old school. If you get a chance to watch it, it is worthwhile viewing. Highly recommended for all staff at an investment bank, hedge fund or asset manager. It is all realistic, and portrayed wonderfully by an excellent castAn amazing movie that is perfect for the holidays, highly recommended!


Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, services and anything else with a financial theme. Follow us now for our free weekly updates, just click hereThank you for reading and learning more about how money is made in finance!

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Linkedin Instagram or TwitterWe are the world's #1 recruiter on Twitter, with over 60,000+ followers globally! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズLinkedin Instagram またはTwitterでフォローしてください 世界中のTwitter第1位リクルーター60,000以上のフォロワー既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.

Tokyo                                          Tokyo




      Mark  Pink                               Shinichi Nagasawa
Direct + 81 3 3505 3891              Direct + 81 3 3505 3891

Saturday, April 28, 2018

Friday Feature Book Review: The Billionaire Who Wasn't: Conor O'Clery 無一文の億万長者: コナー・オクレリー

The American billionaire Chuck Feeney, founder of DFS, has a story that is quite amazing. Without him, Apple would not be facing any EU tax bill today. In fact Facebook, Amazon, Google, Microsoft and many others may not have European offices based in Ireland, due to its strong IT talent pool. He kept his wealth & philanthropy a secret, and always remained low key despite being a self made success. 

He was born in 1931, near New York, and grew up catholic in a blue collar working class Irish area. He always seemed a "great talker" with a great wit who liked to hustle and make a buck. Heavy snows were an opportunity to shovel snow as a child. He paired up with the biggest kid in his class "Moose" Foley and knocked on doors to get orders, Chuck got the orders and collected the money. Moose did most of the shoveling, he was only 8 at the time. 

He joined the US Air Force and was stationed in Japan for 4 years, where he worked in communications and learned Japanese. After the Korean war, he got a free college degree under the GI bill, the first ever in his family. He went on to study hotel management at Cornell University, an Ivy league school that did not often accept catholic students at the time. It was the same school where the 2 founders of Burger King went, as did the founder of Alamo rental cars. Many of the students there were entrepreneurs looking to do new businesses. 

He studied French at the Sorbonne in Europe, and ran into a British man selling duty free liquor to US navy sailors. It then became clear that all tourists would be able to benefit from the duty free goods. He visited Hawaii and discovered how the Japanese market wanted to travel more and show the world its arrival in 1964 for the Tokyo Olympics.  The opportunity to bid for the Duty Free Stores in Hawaii popped up and he won the bid. This was just before the introduction of the Boeing 747. The shop soon had a turnover of over US$1million dollars a day. 

The money piled up and more stores were added. Duty Free Stores, now known as DFS became the largest retailer in the world by 1980. They never boasted of the DFS profits and kept a low key profile. Chuck was estimated to be worth US$1.3 billion by Forbes at the time. It was in fact much more. This is just the beginning of his story. He is the first philanthropist to go public on his "giving while living". He started his foundation in 1984, and began to give away billions worldwide, but only anonymously. 

The Top 3 Takeaways from this book that really impact any reader are:

1) There is always opportunity for anybody who likes people and tries to engage. They are all around you.

2) Only if you are working at something and in the middle of it, can you move into a new opportunity seen. 

3) You can only see great opportunities from being on the ground as a participant. Inspiration is never found in any basic plan created with no input from the client or customer.


You could say that he built the first wave of high tech Universities in Ireland starting with Limerick. He has gone on to fund hospitals in Vietnam, lodging homes, bioscience institutes and many other institutions on 7 continents. In 2012, he was given a lifetime achievement award by Forbes and it was presented by Warren Buffett himself! There is too much to explain in this review, but to say that he has left a mark with his life is a huge understatement. It was an amazing read and mind blowing in so many ways. He really was the most influential billionaire you have never heard of. Highly Recommended!

Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, services and anything else with a financial theme. Follow us now for our free weekly updates, just click hereThank you for reading and learning more about how money is made in finance!

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Linkedin Instagram or TwitterWe are the world's #1 recruiter on Twitter, with over 60,000+ followers globally! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズLinkedin Instagram またはTwitterでフォローしてください 世界中のTwitter第1位リクルーター60,000以上のフォロワー既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.

Tokyo                                          Tokyo



      Mark  Pink                               Shinichi Nagasawa
Direct + 81 3 3505 3891              Direct + 81 3 3505 3891

Friday, April 20, 2018

Friday Feature Book Review: Zero to One by Peter Thiel (Billionaire) ピーター・ティール : ゼロ・トゥ・ワン― (億万長者)

This book will make you rethink where modern technology is going, and how it will change any future society. This is not what I expected. More of interest to any reader is how we the people, will change in a more positive way via technology. Maybe I thought this would be a simple one way message by a billionaire. I was wrong. It is a deep reflexion of observations from various startups. It is a great list of notes on AI, Cryptocurrencies, the Internet of things IOT, or any other new technology we are seeing emerge, often driven by mobile phones.

The author Peter Thiel, is trying to enlighten the reader with what he has seen so far, and suspects is coming in the future as well. He is not making a more expected case of "this is what I know, listen to me, because I know the way forward". It is not a rich guy talking about himself and his world views.

For some reason, I opened this book with some prejudice, and was surprised by the neutral opinions that may help many trying to know what could happen in the future. The author is a special person, a rare talent for original thinking, and it shows in many of his observations. He knows that out of the box thinking is a rare thing. He understands that great ideas are not easy to come by. Personal drive and ambition vary with every individual. There is no formula for easy success. Not much can easily be repeated.

One of the most interesting points in the book is that skill sets need to match. A very talented person who can come up with a great idea, is often not the best person to grow it to its full potential. This should not be seen as negative. The founder of Groupon, who no longer runs the firm he founded, is a good example. To have conceived of a concept and brought it to market, is a great accomplishment. 

Taking it to IPO or any other market dominance is only secondary. Great managers can manage and grow businesses. However, those same managers cannot usually come up with the original idea in the first place. It is a different skill set. It would not be reasonable to think that all CEO startup creators can do everything A-Z. That just does not happen often and should not even be expected. Just being of that high performance level is all that should be looked for, nothing more. I never considered this more realistic view of personal abilities. I guess I needed a reality check on any start up CEO's skill set.

The Top 3 Takeaways from this book that really impact any reader are:

1) There is a clear pattern of personality types working hard that keep being successful, it is never pure luck. Every CEO often has many, but often not all, of the same basic traits needed to succeed.


2) The people, the team or the management are what drives long term success never a single product. Products and features can come and go from a solid team and keeps moving forward.

3) Facebook had many non-believers before its IPO. The original concept was able to pivot into mobile and never looked back. This was due to the executive team. 

The best thing about this unique set of observations, is that they are building blocks that can help all businesses. It can help anybody figure out where technology may be going, and the business chances that will result. It also gives a lot of insight into how to really take on any new business, define its goals, and complete a mission that counts. Being realistic in life and business, is what you get a true sense of from Peter Thiel, the co-founder of PayPal. Originality is appreciated for its rarity. The title Zero to One explains this well. 

Coming up with a real innovation changes the economic game with concrete value. You go from nothing (zero), to something (one). A second imitator, never comes close to bringing the same impact to the same economy a second time. At best, they can seem to be 1.1 in full impact. You could say that Google represents this. Many people around the world now have better access to information from Google, the world's economy is better today and has improved from Zero to One. Bing and many other search engines, have not had the same life changing impact, only a fraction more at best. A true "game changer" is significant, an incremental improvement is not. This is just one of many examples that I learned from in this book. It turned out to be a great surprise. Highly Recommended!


Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, services and anything else with a financial theme. Follow us now for our free weekly updates, just click hereThank you for reading and learning more about how money is made in finance!

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Linkedin Instagram or TwitterWe are the world's #1 recruiter on Twitter, with over 60,000+ followers globally! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズLinkedin Instagram またはTwitterでフォローしてください 世界中のTwitter第1位リクルーター60,000以上のフォロワー既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.

Tokyo                                          Tokyo



      Mark  Pink                               Shinichi Nagasawa
Direct + 81 3 3505 3891              Direct + 81 3 3505 3891

Friday, April 13, 2018

Friday Feature Book Review: How to Manage Your Slaves by Marcus Sidonius Falx with Jerry Toner 奴隷のしつけ方: ジェリー・トナー マルクス・シドニウス・ファルクス

When I first read the book title, I said to myself, "that must be about investment banking!" I picked it up, and soon realized the slaves were not modern interns or financial at all, but ancient and classical slaves from the Roman era. The bigger surprise though was how many real management tips on these slaves back then, can be re-used today within banks or securities firms. Oddly, the approach remains unchanged by time. it worked then, and it can work today.

This is an amazingly well-researched book. It is a set of guidelines by a real slave owner on how other slave owners should manage their slaves. We must remember the context at the time. Owning slaves was a basic benefit of the war for spoils economy in Rome at the time. Writing down such a set of guidelines would be similar to a person today writing down a similar guide to better gardening today. 

It should be understood that slave owners at the time rarely had one or two slaves to manage. Machines did not exist, so labour in the farms was typically human or animal. How to keep a farm and any passive income flowing in the Roman economy was linked directly to how well you managed any resource, including the slave property on your farm. It may be disagreeable today, but it is still a fascinating reading. 

There are 11 chapters in this book including "How to buy a slave, Getting the best from your slaves, Sex and slaves, What makes a good slave, and even, The punishment of slaves". I was not sure how to feel when reading these parts, but I learned a lot more than I expected. The most positive thing, was that many slaves worked to buy their own freedom over years. In large cities, former Roman citizens with debts often sold themselves into slavery (or a gladiatorial school) to escape heavy debts. This was by economic choice not circumstance.

Ultimately, this is a common economic system during the Roman Empire that worked well, and did so for many generations. Nothing lasts forever, but there was a balance in life back then as well. There were festivals where the tables could turn during festivals. Slaves could verbally threaten their slave owners badly during the festival. They could get drunk and out of hand once a year in a time called the "Saturnalia" that lasted over several days starting December 17. Many of these concepts have sometimes been kept within modern management.

I had no idea of this detail and it reminded me of Japanese team building after work drinks. Sometimes called today "nomunication" or drinking(nomu) while communicating. It is a drinking & bonding time at work where even if you complain about the boss perhaps even to his or her face in a drunken state, all is forgiven by the morning after. It is a kind of stress release for a complex system. There were many other similar re-uses of these concepts still alive in modern organizations today. 

The Top 3 Takeaways from this book that really impact any reader are:

1) These rules on slave management from Roman Times are time tested for over 2000 years. They may also work to manage people in modern times.

2) Unlike more recently, many slaves bought their freedom in ancient Rome. They sometimes went on to great financial success within Rome. Some becoming even more wealthy than their previous owners due to business.

3) Many business owners since Roman times have had common issues with entrepreneurs today. The similar challenges and parallels are amazing to see.

Later chapters explain how slaves could be freed and live the Roman dream. They could sometimes rise in society and become slave owners themselves via economic success. It seems that there was a lot of fluidity in Roman Society. How, only if you could learn the language, customs and adapt your duties into a way of making money. As being a Roman was not linked to nationality or native toungue, but being a full citizen of the empire, there seemed to be a lot of class movement for the bright and entrepreneurial. 

This was not expected from the book and it really opened my eyes. The financial incentives for good management are made very clear. Many management principles are learned in this book and are well explained with constant examples of how things can go well or badly if you do not follow the guidelines. This was one of the biggest book surprises I have ever come across. Highly Recommended!

Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, services and anything else with a financial theme. Follow us now for our free weekly updates, just click hereThank you for reading and learning more about how money is made in finance!

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Linkedin Instagram or TwitterWe are the world's #1 recruiter on Twitter, with over 60,000+ followers globally! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズLinkedin Instagram またはTwitterでフォローしてください 世界中のTwitter第1位リクルーター60,000以上のフォロワー既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.

Tokyo                                          Tokyo


      Mark  Pink                               Shinichi Nagasawa
Direct + 81 3 3505 3891              Direct + 81 3 3505 3891