With the corporate slogan “People, Cars, Communities…” and aiming to achieve a reliable, safe and comfortable automobile society, the Park24 Group engages in its businesses to create new values in the automotive society by expanding Times parking facilities in the Parking Business and Times Car RENTAL and Times Car PLUS in the Mobility Business, and integrating the services of each business.
The fiscal year ended October 2016 continued to see a difficult business environment, with consumer confidence at a standstill, reflecting uncertainty about the economic outlook. In these circumstances, the Group achieved record sales and profits at all levels as a result of steadily expanding and enhancing service networks. In the Parking Business, the Group continued its efforts to increase customer convenience by expanding the Times parking facilities through the promotion of a community-based sales system founded on close relationships with land owners and diversifying the means of payment, including electric money and a card that enables corporate customers to pay in arrears both for parking facilities and mobility services. In the Mobility Business, the Group focused on developing an environment to encourage the active use of its fleet of approximately 43,000 Times Car vehicles across the country. Particularly in the car sharing service, for which we aim to establish a service system with 30,000 vehicles nationwide by 2020, many customers used the 16,252 vehicles deployed in 8,591 locations in the 45 prefectures, and, as a result, the service has emerged as a new pillar of earnings for the Group.
Going forward in the fiscal year ending October 2017, the Group will continue to work on providing services that will be supported by customers through the continuous development of parking facilities, by building a sales system that is more closely rooted in local communities and taking steps to unify the car sharing and car rental services. The Group will also begin developing far-sighted new businesses by promoting B-Times, a members-only parking service that matches those who want to use vacant land spaces more effectively with drivers who want a reliable parking service, and by conducting a verification test of the car sharing service that uses super-small mobility.
With respect to long-term business development, in January 2017 the Company incorporated into the Group 318,862 parking spaces at 881 parking sites in the five countries of Australia, New Zealand, the United Kingdom, Singapore and Malaysia in Secure Parking, which operates parking facilities in 11 countries in the world, in addition to Taiwan and South Korea where the Company has already developed its business. The aim of this initiative is to create overseas business to secure new domains, looking 10 years or more ahead, although sustained double-digit growth is possible only in Japan because there is still sufficient scope to expand parking facilities domestically. With these additions, the Group will be an enterprise that is developing parking services in a total of eight countries, and will build service and business structures that are even more conveniently available for drivers in different parts of the world as a global player in the Parking Business and Mobility Business.
The Park24 Group is fully united in its effort to expand its business and continue to take on new challenges, which is the corporate DNA that the Group has possessed since its foundation, seeking out the kind of transportation infrastructure services that people truly desire. To meet the expectations of its shareholders and investors, the Park24 Group will continue striving to increase its corporate value by achieving sustainable growth. We sincerely hope that we can continue to count on the support and encouragement of our stakeholders in the future.
Park24 Co., Ltd.