■Business Overview
1. Main business contents
The business segments of Ichinen Holdings ＜9619＞ are divided into automobile leasing related, chemical, parking, machine tool sales, synthetic resins, agriculture-related (cut out as a new segment from the 2024/3 fiscal year), and others. Sales for the fiscal year ended 2024/3 for each segment were 58,673 million yen (42.1% before internal sales were erased), chemical 11,918 million yen (same 8.6%), parking 7,497 million yen (same 5.4%), machine tool sales 36,189 million yen (same 26.0%), synthetic resin 17,330 million yen (same 12.4%), agriculture-related 5,673 million yen (same 4.1%), and others 2,075 million yen (same 1.4%) .
(1) Automobile leasing related business
Detailed sales for each sub-segment have not been disclosed, but the approximate ratio of division sales is approximately 74% for auto leasing, about 21% for maintenance, about 4% for fuel sales, and the remainder for others.
a) Auto leasing
Similar to Toyota Rent a Car and ORIX (8591), etc., it is a business that leases automobiles. There are many competitors, but the company's characteristic is that it handles relatively few large vehicles (4 tons or more). Also, since it has a maintenance department, there are many cases where orders are received with maintenance. Leasing is a relatively stable division because once an order is received, it continues for several years.
b) Vehicle maintenance contract
It partners with approximately 8,800 automobile maintenance shops nationwide and accepts maintenance contracts from other leasing companies. Sales recorded in this division are only those contracted by other companies, and maintenance associated with in-house leases is included in auto lease sales. They also provide unique services such as “forklift maintenance.” A maintenance network for next-generation automobiles (HVs, EVs, etc.) is also being promoted as an issue for the future.
c) Vehicle sales
It is a business that buys vehicles whose leases have expired, corporate vehicles, etc., and sells used cars. Regarding sales, the current situation is centered around sales at domestic auto auctions. Moving forward, ICHINEN AUTOS (N.Z.), which was established in 2016/10 to increase profits We aim to diversify sales methods with a focus on LIMITED. As part of this, ICHINEN AUTOS (N.Z.) made EAGLE AUTO SERVICES JAPAN LIMITED, which performs imported vehicle inspection operations (compliance center operations) in Auckland City, a subsidiary in 2022/12.
d) Fuel sales
It is a business that mainly sells refueling cards for gas stations (GS) issued by petroleum wholesalers. One card is issued for each vehicle, but the sales destination is not necessarily the company's leasing destination. The sales price of gasoline is determined by the company, and it is offered at a uniform price throughout the country. Since customers can use it at the same price at branches and offices nationwide and can be paid collectively, there is an advantage leading to an improvement in work efficiency. Note that what is recorded as the company's sales is the amount obtained by subtracting the purchase amount from the terminal sales amount.
e) Vehicle body repair management services
It is a business that mainly mediates sheet metal repairs. Employees called adjusters (damage assessors) from non-life insurance companies estimate appropriate prices based on repair requests from customers and conduct negotiations with sheet metal factories all over the country. They are trying to differentiate themselves from other companies by adding services such as free pickup fees, free arrangements for substitute cars, and a permanent guarantee for repair locations.
(Written by FISCO Visiting Analyst Noboru Terashima)