Dependence on importer policies and credit issues

「Jaguar Land Rover continues to be affected by production stoppages caused by a cyberattack in the UK in September」

「By handling multiple brands, our Group has established a management structure that is less susceptible to the trends of any single brand, and we will continue working to expand the brands we handle.」

「Depending on importer policies, our Group's performance may be affected. If production is suspended because of serious misconduct or other issues by a manufacturer, or if a brand's image is significantly damaged, our Group's performance may be affected. In addition, because product purchases are denominated in yen, exchange-rate movements do not directly affect purchase prices. However, prolonged yen depreciation could affect purchase prices.」

「New-vehicle sales were affected by sales price revisions for some brands, while sales volumes for other brands fell below the previous-year period because customers held back from purchases as models approached the end of their life cycles.」

「In new vehicle sales, some brands saw orders affected by selling-price revisions, while others recorded sales volumes below the same period of the previous year due to consumers postponing purchases as models approached the end of their cycles and lost sales opportunities caused by shipment suspensions.」

「Although conditions varied by brand and vehicle model, new vehicle sales benefited from generally stable product supplies, and deliveries to customers who had been waiting for extended periods progressed steadily. New vehicle revenue increased 30.4% year on year to ¥5,777 million.」

「Our Group continued to experience unstable product arrivals, affecting some brands. However, Jeep Ota, newly opened in August 2022, and MINI Kurume, which began operations as part of our Group in April 2023 following the transfer of the business, contributed to revenue. New-vehicle sales, centered on high-priced vehicles, remained firm, and new-vehicle revenue exceeded the previous fiscal year, increasing 14.8% year on year.」

「Our Group continued to experience unstable product arrivals, affecting some brands. However, the newly opened Jeep Ota store in August 2022 contributed to revenue, while new-vehicle sales, centered on high-priced vehicles, remained firm, and new-vehicle revenue exceeded the previous-year period, increasing 2.8% year on year.」

「Although new-vehicle supply remained unstable, arrivals began to recover for some brands we handle, new-vehicle revenue exceeded the previous-year period, and signs of a recovery emerged.」

「However, uncertainty about the outlook continues because of the impact of geopolitical risks arising from the prolonged situation in Ukraine and soaring energy resource and material prices.」

「Some brands in the group continued to experience unstable supplies of new vehicles, but brands that were able to secure inventory relatively steadily offset this weakness, and new-vehicle sales remained firm, particularly for high-priced vehicles.」

「Under these business conditions, although some Group brands were affected by delays in product arrivals and other factors, stores opened in the previous consolidated fiscal year contributed to revenue, while new-vehicle sales remained firm, particularly for high-priced vehicles. Vehicle sales revenue was ¥17,214 million.」

「In the automotive industry, the shift to EVs is advancing toward a decarbonized society, while a global semiconductor shortage has affected the supply of vehicles and parts. New-vehicle registrations by foreign manufacturers during the first quarter of the current consolidated cumulative period decreased to 66,063 units, down 2.4% year on year.」

「Although vehicle sales were affected by delays in new vehicle supply due to the global spread of infectious diseases, sales of new models from the Jaguar Land Rover and Porsche brands remained firm, in addition to the benefits of store investments. Vehicle revenue increased 18.6% from the previous fiscal year to ¥34,378 million.」

「Although vehicle sales were on a recovery trend, delays in the arrival of products for some brands affected growth in new vehicle sales. Used-vehicle sales remained firm, supported by increased interest in automobiles as a safer means of transportation and other factors.」

「Delays in product arrivals that had occurred for some brands began to recover, and new-vehicle revenue increased 3.3% year on year to ¥9,661 million.」

「For some brands, delays in product arrivals occurred and affected the growth of new-vehicle revenue.」

「Since the third quarter, our Group has also been affected by the temporary closure of overseas production plants for brands we handle, delays in product arrivals, fewer visitors and the cancellation or postponement of exhibitions and promotional events, making it difficult to forecast the impact going forward.」

「Our Group has also been affected by the closure of overseas production plants for brands we handle, delays in product arrivals and a decline in visitor numbers resulting from requests to refrain from going out, and the difficult outlook continues.」

「At the existing JEEP brand, deliveries progressed smoothly as vehicles including the Wrangler, for which we had received orders from more customers than in the previous consolidated fiscal year, arrived. The Jaguar Land Rover and MINI brands also remained firm; the number of stores for both had increased through M&A and new openings in the previous consolidated fiscal year.」

「By handling multiple brands, our group has established an operating structure that is less susceptible to the sales trends of any single brand. However, the performance of our group may be affected by importer policies. In addition, if a serious compliance or other reputational issue involving an importer arises, consumers may refrain from purchasing that brand, which could affect the performance of our group.」

「Vehicle sales were affected by delays in sourcing popular models because manufacturer inventory allocations were insufficient for some brands, as well as by a slight decline in sales during store renovations. However, sales, mainly of Volvo vehicles, remained firm, while the Jaguar Land Rover brands, which we began handling in March 2018, and the newly handled Porsche brand contributed to revenue.」

「By handling multiple brands, our group has established an operating structure that is less susceptible to the sales trends of any single brand. However, the performance of our group may be affected by importer policies. In addition, if a serious compliance or other reputational issue involving an importer arises, consumers may refrain from purchasing that brand, which could affect the performance of our group.」

「By handling multiple brands, our group has established an operating structure that is less susceptible to the sales trends of any single brand. However, the performance of our group may be affected by importer policies.」

「Sales of Volkswagen and its group company Audi have declined significantly due to the deterioration in their brand image caused by the diesel vehicle misconduct issue.」

「By handling multiple brands, our group has established an operating structure that is less susceptible to the sales trends of any single brand. However, the performance of our group may be affected by importer policies. In addition, if a serious compliance or other reputational issue involving an importer arises, consumers may refrain from purchasing that brand, which could affect the performance of our group.」