YANASE Converted to Consolidated Subsidiary
YANASE & CO., LTD., is the largest imported car dealership group in Japan, with a network of approximately 190 locations around Japan and some 4,700 employees. The company marked its 100th anniversary of establishment in 2015. YANASE currently handles seven automobile brands centered on Mercedes-Benz, with sales of approximately 43,000 units per year, which is 15% share of the imported car market in Japan.
ITOCHU became a capital participant in YANASE in 2003. Since then, we have gradually increased our capital contribution ratio, and in the second quarter of FYE 2018 we converted the company to a consolidated subsidiary. ITOCHU is following the investment policy that prioritizes investment in carefully selected projects, centering on additional investments of existing businesses with a proven track record to further enhance the quality and efficiency
of its assets. YANASE is an example of these efforts.
Going forward, ITOCHU will strengthen its alliance with YANASE, and strive to enhance existing businesses in Japan, including new and used car sales and after-sales services. At the same time, we aim to improve YANASE’s orporate value further by realizing synergies with ITOCHU’s expertise, human and financial resources.