PARK24 : First Half Financial Results Briefing Meeting （609KB）

FY2024 First Half

Financial Results Briefing Meeting

June 17, 2024

Koichi Nishikawa

President and Representative Director

PARK24 CO., LTD.

Prime Market of TSE/4666

Ticker Symbol/PKCOY

© PARK24 CO., LTD

1. Consolidated Results for First Half

1. Full-yearConsolidated Financial Results Forecast III. Other Topics

※First Half：H1

© PARK24 CO., LTD

2

Consolidated Results for H1① Consolidated P/L

Both net sales and recurring profit exceeded the plan due to the steady expansion of domestic service scale and successful service operation.

► Net Sales 175.8 billion yen	： Service operations remained strong, particularly in the domestic business.
► Recurring Profit 14.9 billion yen	： Exceeded the plan by 1.4 billion yen, reflecting the efforts to maintain a leaner business structure
	(recurring profit margin), as well as an upswing in net sales.

(Lower Row：YoY)

【Table-1】 H1 Consolidated P/L (Billion yen)

(Lower Row：YoY)

【Chart-1】 H1 Net Sales ／ Recurring Profit or Loss (Billion yen)

	FY2019
	Results
Net Sales	154.1
	(108.1%)
Operating Profit	9.9
	(107.5%)
Recurring Profit	9.5
	(106.6%)
Profit Attributable to	5.6
Owners of Parent	(104.1%)

～	FY2023	FY2024
		Results	Results	Plan

157.0	175.8	170.0
(115.6%)	(112.0%)	Difference +5.8
15.0	16.6	15.5
(271.7%)	(110.3%)	Difference +1.1
11.4	14.9	13.5
(291.0%)	(130.5%)	Difference +1.4
7.9	9.0	8.5
(-%)	(112.9%)	Difference +0.5

	Net Sales					175.8
				157.0	(112.0%)
154.1	145.6		135.8
				170.0
			121.8
					(Plan)
						14.9
						(130.5%)
Recurring Profit or Loss
9.5				11.4	13.5
				3.9		(Plan)
		-2.0	-8.9
	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024

© PARK24 CO., LTD

3

Consolidated Results for H1② Results by Business Segment

Both net sales and business profit exceeded the plan regarding our business in Japan.

In the our international business, net sales exceeded the plan, but the business profit fell short of the plan.

(Lower row：YoY)

(Lower row：YoY)

【Table-2】H1 Net Sales by Business Segment (Billion yen)

【Table-3】H1 Recurring Profit ・Business Profit (Loss) (Billion yen)

		FY2019
		Results
Net Sales	154.1
(108.1%)
	Parking Business	80.7
	Japan	(105.4%)
	Mobility Business	40.5
	(119.1%)
	Parking Business	33.0
	International	(103.2%)
	Other	-0.3
	(Adjustment, Head
	Office Expenses, etc)

～

FY2023	FY2024
Results	Results	Plan

157.0	175.8	170.0
(115.6%)	(112.0%)	Difference +5.8
79.1	85.6	82.4
(105.6%)	(108.1%)	Difference +3.2
45.5	52.0	50.7
(128.1%)	(114.2%)	Difference +1.3
32.7	38.4	37.4
(127.8%)	(117.4%)	Difference +1.0
-0.4	-0.2	-0.5
Difference +0.2

		FY2019
		Results
Recurring Profit	9.5
(Loss)	(106.6%)
	Parking Business	13.4
	Japan	(106.9%)

Mobility Business	3.0
(169.2%)
Parking Business	0.8
International	(58.9%)
Other	-7.7
(Adjustment, Head
Office Expenses, etc)

～

FY2023	FY2024
Results	Results	Plan

11.4	14.9	13.5
(291.0%)	(130.5%)	Difference +1.4
15.2	16.7	16.0
(116.6%)	(109.9%)	Difference +0.7
8.0	9.7	8.9
(367.5%)	(120.3%)	Difference +0.8
-0.0	-0.3	0.1
(-%)	(-%)	Difference -0.4
-11.7	-11.1	-11.5
Difference +0.3

※ We have revised the segments used in IR disclosures to Parking Business Japan, Mobility Business, Parking Business International and Others, removing the Business Development segment from the viewpoint of materiality.

© PARK24 CO., LTD

4

Consolidated Results for H1③ Parking Business Japan

Service operations remained strong. Both net sales and business profit exceeded the plan.

► Net sales 85.6 billion yen／Business profit 16.7 billion yen	: Service operations were strong.
► Development of 666 Times PARKING sites	: A lean business structure (business profit ratio) was maintained despite
	the acceleration of new development since the beginning of Q2.
(Lower row：YoY)

【Chart-2】H1 Net Sales／Business Profit (Billion yen)

Net Sales				85.6
			(108.1%)
80.7
79.1	73.2	75.0	79.1
			82.4
				(Plan)

【Chart-3】Number of Times PARKING／Developed (Sites)

Times PARKING				+360
(~FY2023 End of FY／FY2024 End of H1)
18,908	18,914			17,999
	17,879	17,399	17,639

Business Profit		16.7
	15.2
13.4	(109.9%)
13.0
		16.0

Developed

(H1)

976 952

+162

666

(Plan)

5.7 6.1

	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Business	16.6%	7.2%	8.4%	17.4%	19.2%	19.5%
profit
ratio

© PARK24 CO., LTD

504

326 304

FY2019

FY2020

FY2021

FY2022

FY2023

FY2024

5

Consolidated Results for H1④ Mobility Business - Results／Scale of Service

Net sales and business profit increased and exceeded the plan due to extension of service operation.

No negative impact on service operation in result of the increase in distance charges (February,2024~).

► Net sales 52.0 billion yen／Business profit 9.7 billion yen ： Both net sales and business profit increased YoY and surpassed the plan, reflecting the efforts to meet demand through an increase in the number of vehicles and development of Times CAR rental sites, as well as the creation of demand through continuous promotion activities, various campaigns, and other initiatives.

► Sales and disposal of vehicles： Both net sales and business profit exceeded the plan, despite a year-on-year decline due to a decrease in the number of vehicles sold and a slowdown in the used car market.

• 64,363 Times CAR vehicles／2,693,000 Times CAR members ： The size of the service grew steadily, and the pace of the increase in the number of members accelerated due to initiatives including continuous promotion activities.
  (Lower row：YoY)

【Table-4】H1 Breakdown of Results (Billion yen)

【Chart-4】Number of Times CAR (vehicles)／Members (thousand people)

		FY2019
		Results
Net Sales	40.5
(119.1%)
	Service Operations	35.0
	(117.2%)
	Sales and Disposal	5.4
	of Vehicles	(132.7%)
Business Profit	3.0
(169.2%)
	Service Operations	2.1
	(155.8%)
	Sales and Disposal	0.9
	of Vehicles	(211.1%)

～

FY2023	FY2024
Results	Results	Plan
45.5	52.0	50.7
(128.1%)	(114.2%)	Difference +1.3
40.0	48.9	48.2
(125.6%)	(122.4%)	Difference +0.7
5.5	3.0	2.4
(149.2%)	(55.1%)	Difference +0.5
8.0	9.7	8.9
(367.5%)	(120.3%)	Difference +0.8
5.5	8.8	8.6
(484.0%)	(158.1%)	Difference +0.2
2.4	0.8	0.2
(238.4%)	(35.1%)	Difference +0.5

				+512	2,693
				2,181
Members			1,845
(End of H1)		1,585
	1,386			+4,316
1,194
Vehicles				60,047	64,363
(~FY2023 End of FY・FY2024 End of H1)
	44,841	52,552	53,062
57,716
FY2019	FY2020	FY2021	FY2022	FY2023	FY2024

© PARK24 CO., LTD

6

Consolidated Results for H1⑤ Mobility Business - Usage Fees per Vehicle／Month (Ex FC)

Individual and corporate usage fees per vehicle/month grew as a result of the effects of a range of initiatives while increasing the number of Times CAR

• We created demand through the continuous implementation of promotion while increasing the service network. We achieved the growth of usage fees per vehicle/month while simultaneously increasing the number of Times CAR.
• Breakdown of corporate usage fees of 38.0 thousand yen (year-on-year of 100.7%): Increase of 8.5% in the use of car sharing services and decrease of 17.3% in the use of rental car services.
  ⇒ We reduced the loaner vehicles according to the plan in the car rental service. Even so, year-on-year growth of 0.7% was recorded overall due to a significant increase in the use of car sharing service.

	(Lower row：YoY)
【Chart-5】Breakdown of H1 Usage Fees per Vehicle/Month			【Chart-6】Breakdown of H1 Usage Fees per Vehicle/Month
(Individual and corporate use) (Thousand yen)			(Unit price per use × Number of uses)

				114.2	120.7					+136 yen
				(105.6%)						4,400
				(112.7%)						4,264
Total			93.1						3,963
82.5	89.9	37.7	38.0			3,797
88.3	(103.6%)
(109.0%)
	Unit price per use
Corporate	(93.4%)			(115.9%)	(100.7%)
		32.5			2,765	2,837
28.7	28.6	34.4
(94.6%)							+0.7 times
	(99.5%)	(120.4%)				Number of uses
				76.4	82.6	31.9	29.0				27.4
Individual							26.7
		60.5	(108.1%)			23.6	23.5
59.6	53.9	55.4	(126.3%)
(109.2%)
	(90.4%)	(102.9%)
FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024

※ [Chart 5-6] Figures for FY2019 and FY2020 cover car sharing vehicles only; Figures from FY2021 onwards cover	※ [Chart 6] Figures from FY2021 onwards cover Times CAR vehicles (car sharing + rental cars, excluding FC),
Times CAR vehicles (car sharing + rental cars, excluding FC).	resulting in higher unit price and fewer uses than FY2019 and FY2020 (In general, rental cars are rented for a	7
	longer time per use, resulting in higher prices per use, and longer rental times result in fewer uses.

© PARK24 CO., LTD

Consolidated Results for H1⑥ Mobility Business -BusinessModel providing "service platforms"

A business model of providing our service platforms started. "Hakone Car Share" was launched in May

By reducing traffic congestion, diversifying tourists' demand, etc. using RAIL & CAR SHARE, we aim to solve local traffic problems.

• Business model of providing affiliated companies, local governments, etc. with platforms such as systems and/or resources for Times CAR services and member networks
• We collaborated with West Japan Railway Rent-a-Car and Lease Co, Ltd. and launched the Eki Rent-a-CarSmart West service in December 2023.
• We collaborated with Hakone Tourist Association (Hakone DMO) and launched Hakone Car Share, a local car sharing service in May 2024.

General customers

(non-Times CAR members)

Services become available by

Times CAR membership

registration

Times CAR members

Search services			Reservation
			Reservation
Hakone web portal		Times CAR membership	Times CAR Website
Link	registration	app
(Direct to Times CAR website)
Notification and promotion of use			Use
of services

Planning and operating of services Selecting and securing of locations

Providing systems and operations for car sharing

Hakone DMO		PARK24 GROUP

© PARK24 CO., LTD

8

Consolidated Results for H1⑦ Parking Business International - Results

In the overall Parking Business International, business profit did not reach the plan as the underperformance in Australia could not be absorbed in other regions.

(Lower row：YoY)	(Lower row：YoY)
【Table-5】[Japanesecurrency] H1 Results (Billion yen)		【Table-6】[LocalCurrency] H1 Results

【UK】

FY2019

Results

Net Sales	33.0
(103.2%)
	UK	17.6
	(111.0%)
	AU	11.4
	(93.7%)
	TW・SG・MY	4.0
	(101.5%)
	Other	-
	(Local Holdings
	Company, etc.)
Business Profit	0.8
(Loss)	(58.9%)
	UK	0.4
	(56.4%)
	AU	0.1
	(69.0%)
	TW・SG・MY	0.1
	(56.3%)
	Other	-
	(Local Holdings
	Company, etc.)

～

FY2023	FY2024
Results	Results	Plan

32.7	38.4	37.4
(127.8%)	(117.4%)	Difference+1.0
16.8	20.6	19.8
(128.1%)	(122.4%)	Difference+0.8
9.8	10.8	11.1
(133.0%)	(110.1%)	Difference-0.2
6.0	6.9	6.5
(119.4%)	(115.1%)	Difference+0.4
-	-	-
Difference -
-0.0	-0.3	0.1
(-%)	(-%)	Difference -0.4
-1.0	-0.8	-0.9
(-%)	(-%)	Difference+0.0
0.4	-0.0	0.7
(-%)	(-%) Difference-0.7
0.7	0.9	0.8
(124.1%)	(129.5%)	Difference+0.0
-0.2	-0.3	-0.6
Difference+0.2

FY2019	～
Results

UK (Million GBP)

	Net Sales	122
	Business	-119
	Expenses
	Business	3
	Profit (Loss)
	Exchange Rate	144.4 yen

AU (Million AUD)

	Net Sales	143
	Business	-140
	Expenses
	Business	2
	Profit (Loss)
	Exchange Rate	79.7 yen

FY2023	FY2024
Results	Results	Plan

103	111	107
(121.3%)	(107.6%)	Difference +4
-109	-115	-111
(104.1%)	(106.0%)	Difference -3
-6	-4	-4
(-%)	(-%)	Difference +0
163.4 yen	185.8 yen	185.0yen
107	112	116
(121.1%)	(104.2%)	Difference -4
-102	-112	-108
(112.9%)	(109.8%)	Difference -3
5	-0	7
(-%)	(-%)	Difference -8
91.7yen	96.9 yen	95.0 yen

• Net sales exceeded the plan thanks to the strong performance of parking sites, etc. under management contract.
• However, business profit was the same as the plan following an increase in expenses such as rents and maintenance caused by a consumer price increase.

【AU】

• Service operations did not reach expectation due to changes in the demand environment in urban areas (WFH on Mondays and Fridays). On the other hand, cost increases due to inflation have exceeded expectations.
• Efforts to improve both earnings and expenses will be made through additional measures such as the revision of contract fees (management, maintenance, etc.) in addition to efforts to revise service fees.

※From FY2022, Local Holdings Companies classified as "Other"

※TW: Taiwan, SG: Singapore, MY: Malaysia	9
© PARK24 CO., LTD

Consolidated Results for H1⑧ Parking Business International - Localized Times PARKING

The development of Localized Times PARKING (TP) facilities gradually accelerated from Q2 despite falling behind the full-year plan.

（Lower row：Difference from end of the previous year）

【Table-7】Number of Localized TP

End of	End of	End of	End of H1
FY2021	FY2022	FY2023	FY2024

Sites	726	936	1,348	1,459
(+140)	(+210)	(+412)	(+111)

	UK	39	155	386		429
	(+33)	(+116)	(+231)		(+43)
	AU	49	66	109		117
	(+46)	(+17)	(+43)		(+8)
	TW	626	687	791		844
	(+50)	(+61)	(+104)		(+53)
	SG・MY	12	28	62		69
	(+11)	(+16)	(+34)		(+7)
Spaces	31,307	38,728	52,598		56,864
(+7,421)	(+13,870)		(+4,266)
	UK	1,365	4,395	7,929		8,825
	(+3,030)	(+3,534)		(+896)
	AU	4,246	4,994	6,677		7,224
	(+748)	(+1,683)		(+547)
	TW	24,715	26,102	28,445		29,354
	(+1,387)	(+2,343)		(+909)
	SG・MY	981	3,237	9,547		11,461
	(+2,256)	(+6,310)		(+1,914)

© PARK24 CO., LTD

		【Table-8】Ratio of Localized TP
			End of	End of		End of	End of H1
			FY2021	FY2022		FY2023	FY2024
Sites		32.8%	39.6%		52.1%	54.4%
	UK		6.6%	22.2%		47.7%	50.9%
	AU		9.2%	13.8%		24.2%	25.8%
	TW		99.7%	97.7%		97.9%	97.8%
	SG・MY		2.6%	5.8%		12.0%	13.2%
Spaces		5.3%	6.9%		9.8%	10.6%
	UK		0.6%	2.1%		4.2%	4.7%
	AU		2.2%	3.0%		4.5%	5.0%
	TW		99.7%	98.5%		98.6%	98.4%
	SG・MY		1.3%	2.0%		5.5%	6.5%

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