Localizing the International Parking Business and Deploying City-Specific Solutions

「In the overseas parking business, we concentrated management resources in Thailand and pursued the development of new properties, improved profitability at existing properties and expanded higher-value-added services by leveraging relationships with conglomerate-affiliated companies and building owners, our property database and locally rooted operating expertise.」

「In the overseas parking business, the company is concentrating management resources in Thailand. It is strengthening new site development, profitability improvements at existing sites and the provision of high-value-added services addressing new demand from owners and users by leveraging its relationships with the heads of conglomerates built in Thailand, its database of building owners and its locally rooted operating expertise.」

「In the overseas parking business, the company decided to liquidate its South Korean subsidiary because of the Group-wide need to improve management efficiency and the subsidiary's slowing profit growth. In Thailand, its focus market, continued strengthened sales efforts targeting the heads of conglomerates that own numerous buildings increased the number of proposals, leading to the opening of new sites including Ploenchit Center and JW Marriott Hotel Bangkok.」

「In Thailand, the company changed its organizational structure from the fiscal year under review, strengthened sales efforts targeting the heads of conglomerates that own numerous buildings and increased the number of proposals to secure more management contracts for new sites. During the third quarter, it newly opened 7 sites with 1,290 spaces, including Sotetsu Grand Fresa Bangkok, increasing the number of managed sites. At the end of the third quarter, overseas managed sites totaled 79, with total operating capacity of 16,558 spaces.」

「In the overseas parking business, the company changed its organizational structure from the fiscal year under review, strengthened sales to parking owners and increased the number of proposals to secure more management contracts for new sites. As a result, in the second quarter it secured management contracts in Thailand for sites including Ascott Thonglor Bangkok. At the end of the second quarter, overseas managed sites totaled 70, with total operating capacity of 15,262 spaces.」

「In the overseas parking business, the company changed its organizational structure from the fiscal year under review and is focusing on sales to secure management contracts for new sites. In the first quarter, overseas managed sites totaled 68, with total operating capacity of 15,235 spaces. Although the number of sites temporarily declined from the end of the previous fiscal year due to cancellations, the number of new management proposals to parking owners increased.」

「In Thailand, the company planned sightseeing tours using EV tuk-tuk taxis in partnership with H.I.S. Thailand, providing parking facilities as departure points and charging stations and beginning operations. It also began operating the parking facility at One City Centre, a large office building with 879 spaces, as a new contract site.」

「In the overseas parking business, Thailand lifted its COVID-19 state of emergency for the first time in 2.5 years, prompting office tenants to return and improving the profitability of existing monthly-contract and hourly parking sites. The company also began operating the parking facility at One City Centre, a large office building, as a new contract site. In South Korea, utilization rates at hourly parking sites increased, and the profitability of existing sites improved steadily.」

「Thailand lifted its COVID-19 state of emergency for the first time in 2.5 years, prompting office tenants to return and improving the profitability of existing monthly-contract and hourly parking sites. The company secured 3 new contracts, including Holiday Inn Express Bangkok Siam. In South Korea, hourly parking utilization also increased, and existing sites were improved steadily. As a result, overseas managed sites totaled 70, with total operating capacity of 16,959 spaces.」

「For the time being, the company is concentrating personnel and investment in Thailand and South Korea to maximize profit growth in its overseas business. In Thailand, it focused on proposing performance-based models, particularly for hotel-affiliated parking facilities with low utilization, and increased the number of contracted sites, including ibis Styles Bangkok Sukhumvit 4 and SOFITEL Bangkok Sukhumvit Hotel. As a result, overseas managed sites totaled 72, with total operating capacity of 16,829 spaces.」

「In the overseas parking business, the company is reviewing its strategy and pursuing a selective focus because recovery from the economic damage caused by COVID-19 in Asia has been slow. It sold its shares in the local Chinese subsidiary in Shanghai and also closed its Taiwanese subsidiary. For the time being, the company will concentrate personnel and investment in Thailand and South Korea to maximize profit growth in its overseas business.」

「As a result, overseas managed sites totaled 77, with total operating capacity of 19,622 spaces.」

「In its overseas expansion, the company has entered Southeast Asia, namely Thailand and Indonesia, as well as China, South Korea and Taiwan. Over the medium to long term, it will continue expanding into countries across Asia where it has not yet established operations and into other overseas markets.」

「During the third quarter, the company began operating 5 new sites in Thailand, including the parking facilities at The St. Regis Bangkok and Mayfair Bangkok Marriott Executive Apartments, and matched them with car-commuting users. As a result, overseas managed sites increased by a net 3 year on year to 71, with total operating capacity of 19,207 spaces.」

「Against this backdrop, the company strengthened sales efforts by proposing subleasing to hotels where vacancies were expected due to declining utilization and to REIT properties concerned about falling profitability, actively capturing demand from car commuters, and launching an online parking listing site as part of its contactless sales efforts while increasing the number of listed sites. In January, it began operating Exchange Tower as its first REIT property in Thailand.」

「As a result, overseas managed sites totaled 71, with total operating capacity of 19,799 spaces.」

「As a result, overseas managed sites totaled 67, up 13.6% year on year, with total operating capacity of 19,730 spaces, up 15.5%, and revenue of ¥1,696 million, up 12.7%.」

「Against this backdrop, new site contracts and improvements to existing sites progressed steadily in South Korea, Shanghai and Taiwan. In Thailand, service and profitability improvements also progressed steadily, including the launch of services addressing demand for dedicated motorcycle parking facilities. As a result, overseas managed sites totaled 68, up 19.3% year on year, with total operating capacity of 20,097 spaces, up 27.5%, and revenue of ¥1,297 million, up 20.8%.」

「In the overseas parking business, parking-related issues, including safety, profitability, services and shortages of vacant spaces, have been increasing in Thailand, China, South Korea, Indonesia and Taiwan, where the Group operates, and demand for improvements and solutions is rising. Against this backdrop, new site contracts and improvements to existing sites progressed steadily in South Korea, Shanghai and Taiwan. In Thailand, during the second quarter of the fiscal year under review, the company secured contracts for 4 sites with 1,633 spaces, including the well-known commercial facility The Platinum Fashion Mall (1,456 spaces). As a result, overseas managed sites totaled 65, up 30.0% year on year, with total operating capacity of 19,716 spaces, up 56.5%.」

「Against this backdrop, in each country the company strengthened its organizational structure by expanding its sales staff, improved safety, services and profitability, and focused on securing new contracts and improving existing sites. In Bangkok, Thailand, its largest base, existing-site profitability improved steadily through operating cost reductions and appropriate pricing, and the launch of parking facilities at large-scale commercial properties progressed smoothly, resulting in record-high revenue and operating profit since entering the market. As a result, overseas managed sites totaled 59, with total operating capacity of 17,635 spaces.」

「In Bangkok, Thailand, the company continued to secure parking facilities at large-scale commercial properties, including DONKI MALL THONGLOR, the first Thai location of the comprehensive discount store Don Quijote. As a result, overseas managed sites totaled 59, with total operating capacity of 17,080 spaces」

「Against this backdrop, in each country the company strengthened its organizational structure by expanding its sales staff, improved safety, services and profitability, and focused on securing new contracts and improving existing sites. In Bangkok, Thailand, its largest base, existing-site profitability improved steadily through operating cost reductions and appropriate pricing, while the launch of parking facilities at large-scale commercial properties, including DONKI MALL THONGLOR, the first Thai location of the comprehensive discount store Don Quijote, also progressed smoothly. As a result, revenue and operating profit reached record highs since entering the market. Overseas managed sites totaled 57, with total operating capacity of 15,761 spaces.」

「Against this backdrop, in each country the company strengthened its organizational structure by expanding its sales staff, improved safety, services and profitability, and focused on securing new contracts and improving existing sites. In Bangkok, Thailand, its largest base, existing-site profitability improved steadily through operating cost reductions and appropriate pricing. In addition to securing new contracts for monthly-contract sites, the company provided high-value-added real estate consultancy services to existing site owners, resulting in record-high revenue and operating profit since entering the market. As a result, overseas managed sites totaled 50, with total operating capacity of 12,600 spaces.」

「In Bangkok, Thailand, profitability at existing sites improved steadily through operating cost reductions and appropriate pricing, while the acquisition of 3 new monthly-contract sites resulted in record-high revenue and operating profit. In Seoul, South Korea, the company began operating the Best Western Hotel parking facility (total capacity: 40 spaces, operating capacity: 40 spaces). As a result, overseas managed sites totaled 50, with total operating capacity of 12,702 spaces, and the overseas parking business achieved both revenue and profit growth.」

「In Taipei, Taiwan, the company began operating its first site, the Shin Kong Zhongshan Building parking facility (operating capacity: 160 spaces), in June. As a result, overseas managed sites totaled 48, with total operating capacity of 12,824 spaces. Excluding newly entered Taiwan, each country posted higher profit than in the previous fiscal year, and the overseas parking business achieved both revenue and profit growth in the fiscal year under review.」

「The company resolved to establish a subsidiary in Taipei in February this year, making it the fifth overseas base in Asia. Going forward, through optimizing the supply-demand balance for parking, improving safety and providing high-value-added Japanese-style parking services developed by the Group, the company will close the supply-demand gap for parking in central urban areas and contribute to the development and improvement of Taiwan's transportation environment.」

「The company expanded the number of target parking facilities for the Park & Go project commissioned by the Toyota Motor Group, which involves digitizing parking utilization information and introducing a parking reservation service to alleviate traffic congestion. In Seoul, South Korea, efforts to launch parking facilities opened in the previous fiscal year and improve the profitability of existing managed sites proved successful, resulting in operating profitability. As a result, overseas managed sites totaled 42, with total operating capacity of 12,211 spaces.」

「In Shanghai, China, the company made progress in securing new contracts for large-scale hourly parking facilities, including the Zhengda Himalayas Center (operating capacity: 530 spaces) and Hongqiao Tiandi D17, an office facility at Hongqiao Tiandi (operating capacity: 590 spaces). In Jakarta, Indonesia, it began operating its first project, Kuningan City parking facility (operating capacity: 117 spaces), and the Wisma Kei Ai parking facility (operating capacity: 560 spaces).」

「In Shanghai, China, demand remained strong for large-scale commercial facility development and for improved parking safety and services. Against this backdrop, the company focused on training personnel, strengthening its operating structure based on its strength in Japanese-style parking operations, and securing new contracts. As a result, it began managing and operating the parking facility at the Zhengda Himalayas Center (operating capacity: 530 spaces) in January this year, and from April will begin managing and operating the parking facility at Hongqiao Tiandi D17 (operating capacity: 590 spaces), an office facility at Hongqiao Tiandi, among other developments, making progress in securing new contracts for large-scale hourly parking facilities. In Seoul, South Korea, the company strengthened its organizational structure by expanding its sales staff and focused on securing new contracts. As a result, it began operating the parking facility at Hongdae Tolos Tower (operating capacity: 96 spaces) in February this year and secured a total of 4 new contracts. In Jakarta, Indonesia, traffic congestion remained a serious social problem and parking remained chronically insufficient. As a result of efforts to secure new contracts, the company began operating its first project, Kuningan City parking facility (operating capacity: 117 spaces), in November last year, followed by the Wisma Kei Ai parking facility (operating capacity: 560 spaces) from January this year, for a total of 2 parking operations.」

「As a result, in December last year the company began operating the Somerset Ekkamai parking facility, which has Bangkok's largest-scale mechanical tower parking system (operating capacity: 250 spaces), and 3 self-parking facilities attached to condominiums owned by a food-industry conglomerate (total operating capacity: 50 spaces). In January this year, it began operating the parking facility at Metropolis (operating capacity: 185 spaces), an office building developed by an Indian conglomerate, thereby securing 5 new contracts.」

「The company agreed to take on the management and operation of the Zhengda Himalayas Center parking facility, a large mixed-use complex incorporating a hotel, museum and commercial facilities, from January next year (operating capacity: 530 spaces).」

「As a result, the number of park-and-ride parking facilities around subway and elevated railway stations in Bangkok increased by 9 on a net basis.」