Reforming the Auction Model and Expanding the Customer Base
First written in FY2016. 2 of 4 entries say "Restated". Latest entry: FY2017-Q3.
0 other companies' latest entry also says "Dropped".
- FY2017-Q3DroppedAnnual report
「Withdrawing from the auction business as of 31 March 2017」
Because the decision was made to withdraw from the auction business, the previous goal of reforming the auction model by expanding the customer base and pursuing recurring transactions was explicitly discontinued. - FY2017-Q2RestatedAnnual report
「The number of vehicles listed in our Group’s auctions did not decline as much as initially expected at the beginning of the period. However, the number of listings has not recovered to its previous level, and we recognize that difficult conditions continue.」
Although the decline in listings was smaller than expected at the beginning of the period, listings have not recovered to their previous level, and the auction model’s dependence on customers remains an issue. - FY2017-Q1RestatedAnnual report
「We worked to prevent a decline in auction transaction volume by reducing listing costs through our systems.」
Although efforts to prevent a decline in auction transaction volume through lower listing costs have continued, the number of vehicles listed has not recovered to its previous level. - FY2016First statedAnnual report
「To improve the current situation in which the number of vehicles listed for auction is heavily influenced by the remarketing trends for off-lease vehicles from several major auto-lease customers, we aim to expand our customer base and transform the business into a model capable of generating recurring transactions.」
The goal is to transform the auction model by reducing dependence on major customers and expanding the customer base to generate recurring transactions.