Autobacs Seven : announces Transfer of Store Ownership of its Franchisee to its Consolidated Subsidiary
January 23, 2017 at 01:15 am
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January 23, 2017
AUTOBACS announces Transfer of Store Ownership of its Franchisee to its Consolidated Subsidiary
January 23, 2017 (Tokyo, Japan) - AUTOBACS SEVEN Co., Ltd. ("the Company", Representative Director and CEO: Kiomi Kobayashi ) annouces today that its consolidated subsidiary, AUTOBACS FUKUOKA Ltd. ("AB FUKUOKA") is taking over the store ownership of Takubo Co., Ltd.("Takubo"), a member corporation of the AUTOBACS franchise chain. Details are as follows:
Purpose of transfer
AUTOBACS Group is aiming to increase market share and improve store profitability by strengthening its domestic AUTOBACS store business.
As part of the effort, the Company decided to consolidate store ownership in the Saga area, to simplify the operational structure and increase area competitiveness and management efficiency.
Outline of the transfer of store ownership
AB FUKUOKA, is taking over the operation on AUTOBACS KARATSU Store and AUTOBACS SAGA-MINAMI BYPASS Store from Takubo, as of March 1, 2017 (scheduled transfer date).
Overview of the transferee Company As of January 23, 2017
(1) Company name:
AUTOBACS FUKUOKA Ltd. (AB FUKUOKA)
(2) Location:
Onojo City, Fukuoka Prefecture
(3) Representative:
Takashi Matsuo
(4) Line of business:
Retail of car goods and services (Operation of eleven AUTOBACS stores)
(5) Capital:
JPY 100 million
(6) Established:
May 2009
(7) Present relationship between AB FUKUOKA and the Company
Capital relationship
The Company holds 100% of all outstanding shares of AB FYUKUOKA
Personnel relationship
An Auditor of AB FUKUOKA has been delegated from the Company
Business relationship
AB FUKUOKA and the Company have concluded AUTOBACS franchise agreement, AUTOBACS CARS franchise basic agreement, AUTOBACS CARS franchise agreement and merchandise sale and purchase agreement.
Overview of the transferor company As of January 23, 2017
(1) Company name
Takubo Co., Ltd. (Takubo)
(2) Location
Saga city, Saga Prefecture
(3) Representative
Katsuaki Takubo
(4) Line of business
Retail of car goods and services(Operation of two AUTOBACS stores)
(5) Capital
JPY 20 million
(6) Established
April 1980
(7) Present relationship between Takubo and the Company
Capital relationship
No relevant items
Personnel relationship
No relevant items
Business relationship
Takubo and the Company have concluded AUTOBACS franchise agreement, AUTOBACS CARS franchise basic agreement, AUTOBACS CARS franchise agreement and merchandise sale and purchase agreement.
Third-party relationship
Takubo and the Company have not concluded a third-party relationship.
Scheduled transfer date
Date of decision: January 23, 2017
Date of agreement: January 23, 2017
Date of transfer: March 1, 2017
Effect on performance
The influence of this transaction on the Company's consolidated financial performance is assumed to be low.
Disclaimer: Please note that this document is a summary translation of the Japanese press release and prepared for reference purposes only. We do not assure the correctness or completeness of this summary translation. Please note that this summary translation may be amended without notice, or be pulled from our website for such amendment purpose, etc., at our own discretion.
Autobacs Seven Co. Ltd. published this content on 23 January 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 23 January 2017 06:15:06 UTC.
Original documenthttp://www.autobacs.co.jp/images/data/news/2017/01/23/DiHWGA.pdf
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Autobacs Seven Co Ltd is a Japan-based company primarily engaged in the retail and wholesale of automobile products, the purchase and sale of vehicles, the provision of vehicle inspection and maintenance services, as well as the loan credit business. The Company operates in four segments. The Domestic Autobacs segment is engaged in the wholesale of car products and the leasing of store facilities. The Overseas segment is engaged in the sales of car accessories, the provision of installation service and the maintenance of cars to general consumers. The Car, Dealers and B-to-B segment is engaged in the sales of imported cars, the purchase of used cars and the sales of the cars to second hand car dealers and others. The Others segment is engaged in the leasing business to domestic franchise chain affiliates.
AUTOBACS SEVEN CO., LTD. 
