Foreign exchange, export-country regulatory and ocean transport risks associated with the used-car export business
First written in FY2024. 5 of 12 entries say "Materialised", first in FY2025-H1. Latest entry: FY2026.
WILLPLUS Holdings moved to the "Worse" side of this theme in 2025.
0 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「In addition to the decline in overseas revenue, which had traditionally carried a high margin, higher procurement prices and vehicle transportation costs raised the cost ratio of products, lowering gross profit on overseas revenue.」
In addition to lower overseas revenue due to import restrictions and weakening demand, higher procurement prices and transport costs raised the product cost ratio, worsening the profitability of the export-related business. - FY2026-H1MaterialisedAnnual report
「In addition to the country's import quota for 2025 reaching its limit in early August, the market entered a period of weakening demand. Overseas revenue for the current interim consolidated accounting period was ¥2,971 million, down 45.9% year on year, substantially below the previous corresponding period.」
Overseas revenue fell sharply as Malaysia's import quota was reached early and demand weakened. Export-business risks relating to export-country regulations, demand and maritime transport, among other factors, materialised in actual results. - FY2025WorsenedAnnual report
「As described above, the softening of market conditions triggered by increased domestic supply was followed by a slowdown in demand in Malaysia. With market conditions weak both overseas and domestically, the Company prioritised inventory turnover and proceeded with sales, resulting in lower margins.」
Softening used-car market conditions due to increased domestic supply, slowing demand in Malaysia and lower margins actually occurred, increasing market risks specific to the export business. - FY2025-H1MaterialisedAnnual report
「Malaysia's domestic economy, the main export destination, remained strong and demand for imported vehicles continued to be robust. The country's import quota for imported vehicles, which is normally reached in September or October, was reached unusually early in the second half of July this year. Although additional tariffs and other charges applied thereafter, local demand remained firm. However, as local importers restrained imports during the year ahead of the start of the year, when demand was expected to recover, the number of vehicles exported in December remained low, as usual.」
In the used-car export business, Malaysia's import quota was reached earlier than usual, and local importers' restraint on imports during the year resulted in a low number of vehicles exported in December. Risks related to export-country regulations and demand seasonality materialised in actual business operations. - FY2024First statedAnnual report
「In the used-car export business, losses arising from difficult-to-predict factors such as foreign-exchange fluctuations, changes in the laws and regulations of export destinations, the availability of vessels for maritime transport and accidents during transportation may affect the performance of the Group as a whole.」
In connection with the acquisition of 株式会社ENG as a subsidiary, the Company disclosed separately for the first time the risks specific to the used-car export business relating to foreign exchange, laws and regulations in export destinations, vessel availability and transport accidents.