Investment in Opening and Renovating Imported-Vehicle Dealerships

「Total capital expenditures during the consolidated fiscal year amounted to ¥1,668.631 million, and investments totaling ¥1,668.631 million were made in the purchase of land and buildings for stores, new store openings, renovations and other projects.」

「Investment in store facilities, including the installation of EV charging equipment at group stores, was ¥1,668 million.」

「Total capital expenditures during the consolidated fiscal year amounted to ¥315.099 million」

「Property, plant and equipment and intangible assets increased by ¥1,365 million from the end of the previous consolidated fiscal year to ¥10,597 million. This was mainly due to a ¥1,284 million increase in property, plant and equipment from the acquisition of store facilities and other assets in connection with the acquisition of shares, and a ¥166 million increase in investments and other assets, mainly due to an increase in lease and guarantee deposits.」

「Capital expenditures during the consolidated fiscal year totaled ¥432.223 million, consisting of store facilities and other equipment for new store openings and EV-related charging facilities.」

「Property, plant and equipment and intangible assets increased by ¥850 million from the end of the previous consolidated fiscal year to ¥8,875 million. This was mainly due to a ¥910 million increase in property, plant and equipment resulting from the acquisition of new store facilities and other assets in connection with the acquisition of a business, as well as an increase in construction in progress included in other property, plant and equipment, partly offset by a ¥49 million decrease in intangible assets due to amortization of goodwill.」

「Property, plant and equipment and intangible assets increased by ¥889 million from the end of the previous consolidated fiscal year to ¥8,913 million. This was mainly due to a ¥932 million increase in property, plant and equipment from the acquisition of new store facilities and other assets in connection with the acquisition of a business, partly offset by a ¥33 million decrease in intangible assets due to amortization of goodwill.」

「In July 2023, we opened BYD AUTO Fukuoka Nishi in Fukuoka, Fukuoka Prefecture, expanding the range of low-carbon vehicle brands handled by our group and working to attract new customer segments.」

「Capital expenditures during the fiscal year were ¥354.331 million, primarily for store facilities associated with new store openings and charging equipment to support EVs.」

「Under these business conditions, we opened JEEP Ota in Ota, Tokyo, in August 2022. As of the end of the first quarter, the JEEP brand had 7 stores and the Group had 35 stores in total.」

「Capital expenditures during the fiscal year were ¥194.343 million, primarily for store facilities such as charging equipment to support EVs.」

「Capital expenditures during the fiscal year were ¥708.346 million, primarily for store interior facilities associated with store renovations and relocations resulting from changes to corporate identity standards.」

「This was mainly because machinery and vehicles decreased by ¥181 million, other tangible fixed assets decreased by ¥63 million as construction in progress declined following the opening of new stores, and goodwill decreased by ¥55 million through amortization, while buildings and structures increased by ¥441 million through the acquisition of facilities for 4 stores newly opened, renovated or relocated and renovated during the nine months ended the third quarter, among other factors.」

「This was mainly because buildings and structures increased by ¥143 million through the acquisition of facilities for Jaguar Land Rover Approved Hiratsuka and Jaguar Land Rover Shonan Service, which newly opened in new buildings following relocation during the six months ended the second quarter, among other factors.」

「Capital expenditures during the fiscal year were ¥1,136.694 million, primarily for store interior facilities associated with store renovations and relocations resulting from changes to corporate identity standards.」

「This was mainly because tangible fixed assets increased by ¥392 million through the acquisition of facilities for MINI Hakata, which reopened during the nine months ended the third quarter, and MINI Yamaguchi, which was relocated and renovated, as well as an increase in construction in progress related to renovation work at stores scheduled for reopening, among other factors.」

「Fixed assets increased by ¥109 million from the end of the previous consolidated fiscal year to ¥6,535 million. This was mainly due to an increase in construction in progress, included in other tangible fixed assets, associated with store relocations and renovations.」

「Capital expenditures during the fiscal year were ¥982.601 million, primarily for store interior facilities associated with new store openings and relocations in the Kyushu region.」

「Existing stores, JEEP Kitakyushu and Fiat/Abarth Denenchofu, were renovated, while Volvo Car Kurume and Volvo Car Kitakyushu were relocated and renovated. Customers are now welcomed at new facilities conforming to the latest corporate identity standards for each brand.」

「This was mainly because tangible fixed assets increased by ¥1,079 million through the acquisition of facilities for the JEEP Meguro store, which opened in November 2018, and facilities for Porsche Center Koriyama, Volvo Car Kurume, Volvo Car Kitakyushu, JEEP Kitakyushu and MIINI Shunan, among other stores scheduled for relocation or new openings from January 2019 onward. Goodwill also increased by ¥90 million through the recognition and amortization of goodwill associated with a business acquisition, among other factors.」

「Fixed assets increased by ¥130 million from the end of the previous consolidated fiscal year to ¥4,231 million. This was mainly due to an increase in construction in progress, included in other tangible fixed assets, resulting from new store openings and store renovations.」

「Capital expenditures during the fiscal year were ¥254.424 million, primarily for store interior facilities associated with new store openings and relocations in the Kyushu region.」

「Against this backdrop, in September 2017, チェッカーモータース株式会社, a consolidated subsidiary, reopened Alfa Romeo Setagaya and Fiat/Abarth Setagaya, while 帝欧オート株式会社 reopened Volvo Car Fukuoka Minami. In January 2018, チェッカーモータース株式会社 newly opened Alfa Romeo Ota and renovated and reopened JEEP Kurume. Fixed assets increased by ¥315 million from the end of the previous consolidated fiscal year to ¥3,779 million. This was mainly because tangible fixed assets increased by ¥379 million through the acquisition of store facilities associated with renovations in the Kyushu and Tokyo regions, while goodwill decreased by ¥71 million through amortization, among other factors.」

「Fixed assets increased by ¥237 million from the end of the previous consolidated fiscal year to ¥3,702 million. This was mainly because tangible fixed assets increased by ¥286 million through the acquisition of store interior facilities associated with renovations in Tokyo and Fukuoka, while goodwill decreased by ¥47 million through amortization, among other factors.」

「Against this backdrop, チェッカーモータース株式会社, a consolidated subsidiary, reopened Alfa Romeo Setagaya and Fiat/Abarth Setagaya in September 2017, while 帝欧オート株式会社, another consolidated subsidiary, reopened Volvo Car Fukuoka Minami in September 2017.」

「Capital expenditures during the fiscal year were ¥575.860 million, primarily for store interior facilities associated with new store openings and relocations in the Kyushu region.」

「Against this backdrop, consolidated subsidiary 帝欧オート株式会社 relocated and reopened Volvo Car Fukuoka in Sawara Ward, Fukuoka City, in January 2017. It is one of the largest showrooms in Kyushu for the VOLVO brand and conforms to the latest corporate identity architecture.」

「Against this backdrop, consolidated subsidiary チェッカーモータース株式会社 opened JEEP Fukuoka Nishi in Nishi Ward, Fukuoka City, in October 2016. It is the first showroom in western Japan for the JEEP brand to conform to the latest corporate identity architecture.」

「Meanwhile, MINI Fukuoka Nishi, operated by consolidated subsidiary ウイルプラスモトーレン株式会社, was relocated within Fukuoka City, from Sawara Ward to Nishi Ward. The showroom, one of the largest in western Japan for the MINI brand, began operations in July 2016 in a new facility conforming to the latest MINI corporate identity architecture.」

「Capital expenditures mainly comprised the continued opening and renovation of stores selling imported vehicles operated by the group.」