Willplus Holdings
Basic Information
- Stock Code
- 3538
- Industry
- Retail
- Category Detail
- Automobile Retailers
- Prefecture
- Tokyo
- Establishment Year
- October 2007
- Listing Year
- March 2016
- Official Website
- https://www.willplus.co.jp/
- TSE Information
- TSE Information
- Yahoo! Finance
- Yahoo! Finance
- Other Companies
- Nippon Insulation, Sun Otis, Nihon ISK, Sankyo Kasei
Overview
Willplus Holdings is a mid-sized company in the automobile retail industry, established in 2007, with imported car sales as its primary business, actively expanding nationwide with aggressive M&A strategies.
Current Situation
Willplus Holdings recorded consolidated sales of approximately ¥39.7 billion in the fiscal year ended June 2022, achieving steady growth in the imported car dealer industry. It has five subsidiaries handling a wide range of brands including Jeep, Fiat, BMW, Porsche, and BYD, with a regionally focused sales network nationwide. Through aggressive M&A, it has expanded its business base in the Tohoku, Kanto, Chugoku, and Kyushu regions, strengthening its ability to meet diverse customer needs. The majority of sales come from imported car sales and after-sales services, with steady performance in ancillary services such as vehicle maintenance and insurance sales. From 2023 onward, it continues to open new stores and acquire brands, focusing on new models like BYD electric vehicles to adapt to environmental considerations and market trends. Founder Takaaki Naruse is the major shareholder, ensuring management stability. Moving forward, it aims to improve digital marketing and customer experience while achieving sustainable automobile sales.
Trivia
Interesting Facts
- Originated from Fukuoka used car store 'Sanfurawa'
- Expanded from Tohoku to Kyushu through aggressive M&A
- Handles multiple luxury imported car brands
- Listed on Tokyo Stock Exchange Standard Market
- Early adopter and expander of BYD electric vehicles
- Succeeded former Ford official dealer business
- Mid-sized company with approximately 520 employees
- Founder as major shareholder stabilizes management
- Strength in imported used car exports
- Grown from local small dealership to major dealer
Hidden Connections
- Strengthened European car sales network by taking over former Groupe PSA Japan stores from Stellantis Japan
- Built regionally focused customer base by acquiring numerous local former operators
- Rare in the industry for simultaneously deploying multiple European brands and Chinese brand BYD
- Integrally operates not only car sales but also after-sales services and insurance sales
- Distinctive positioning as independent dealer unaffiliated with major trading houses like Marubeni group
- Strengthening used car exports and developing overseas sales channels
- Business originated in Fukuoka with strong influence in Kyushu region
- Role division among group subsidiaries for new/used car sales and maintenance services
Future Outlook
Growth Drivers
- Expansion of EV and environmentally friendly vehicles
- Increasing demand for imported cars in local markets
- Growth in corporate lease and rental markets
- Strengthening of digital sales channels
- Expansion of used car export business
- Nationwide sales network expansion via M&A
- Customer retention through comprehensive after-sales services
- Customer segment expansion through multi-brand strategy
- Vehicle lineup adapted to environmental regulations
- Increased sustainability investments
- 対応 to autonomous driving technology introduction
- Business efficiency via advanced IT systems
Strategic Goals
- Achieve 50% EV ratio to promote decarbonization
- Strengthen sales store network in major cities nationwide
- Realize annual sales over ¥70 billion
- Expand overseas business including used car exports
- Achieve over 90% customer satisfaction through service improvements
- Sales expansion via digital technology utilization
- Obtain sustainability certification for all group companies
- Expand integration of vehicle maintenance and insurance sales
- Enhance employee technical and service capabilities
- Build comprehensive contribution framework to local communities
Business Segments
Corporate Lease and Rental
- Overview
- Provides leases and rentals of imported cars to corporations and supports vehicle management.
- Competitiveness
- Diverse needs accommodation through multi-brand deployment
- Customers
-
- Corporate vehicle management departments
- Rental car companies
- Government agencies and local governments
- Transportation companies
- Construction companies
- Products
-
- Imported car leases
- Long-term rental services
- Vehicle management support
Maintenance and After-Sales Service
- Overview
- Enhances customer satisfaction through high-quality vehicle maintenance and insurance sales.
- Competitiveness
- High technical expertise from brand-specialized mechanics
- Customers
-
- Individual customers
- Corporate customers
- Insurance companies
- Vehicle inspection providers
- Products
-
- Vehicle inspections and maintenance
- Regular servicing
- Repair services
- Insurance agency operations
Used Car Sales and Export
- Overview
- Handles reliable used car sales and overseas exports.
- Competitiveness
- Extensive sales network and overseas expansion
- Customers
-
- Used car buyers
- Overseas used car markets
- Used car dealers
- Products
-
- Certified used car sales
- Used car exports
- Vehicle appraisal and purchase
New Car Sales Agency Operations
- Overview
- Handles a wide range of new car brands and provides sales support.
- Competitiveness
- Abundant customer choices through multi-brand support
- Customers
-
- New car buyers
- Corporate customers
- Products
-
- New car sales
- Customization options
- Loan and financing support
EV and Hybrid Support Services
- Overview
- Offers services to promote the adoption of environmentally friendly vehicles.
- Competitiveness
- Deployment of electric vehicle brands like BYD
- Customers
-
- Environmentally conscious individuals and corporations
- Local governments
- Car-sharing operators
- Products
-
- EV vehicle sales
- Charging infrastructure installation support
- Maintenance services
Insurance and Financial Services
- Overview
- Provides vehicle-related financial and insurance products to achieve one-stop services.
- Competitiveness
- Comprehensive customer service framework
- Customers
-
- Individual customers
- Corporate customers
- Products
-
- Automobile insurance agency operations
- Loan products
- Lease products
Logistics Support
- Overview
- Streamlines supply to sales outlets through an efficient logistics network.
- Competitiveness
- Cost reduction through group synergies
- Customers
-
- Inter-subsidiary logistics
- Imported car manufacturers
- Transportation companies
- Products
-
- Vehicle transportation
- Parts delivery
- Warehouse management
Vehicle Customization Services
- Overview
- Provides customizations according to customer requests.
- Competitiveness
- High technical skills and multi-brand support
- Customers
-
- Imported car owners
- Corporate fleet managers
- Products
-
- Equipment installation
- Interior/exterior customization
- Special specification vehicle production
Training and Education Services
- Overview
- Implements training programs to improve service quality.
- Competitiveness
- Brand-certified training system
- Customers
-
- Internal employees
- Dealership staff
- Products
-
- New technology training
- Customer service skills training
Used Car Appraisal and Inspection Services
- Overview
- Supports used car distribution with reliable appraisals.
- Competitiveness
- Proprietary standardized evaluation criteria
- Customers
-
- Used car dealerships
- Individual sellers
- Products
-
- Vehicle inspections
- Fair appraisals
Parts and Accessories Sales
- Overview
- Meets customer needs through an extensive parts supply network.
- Competitiveness
- High reliability as an official dealer
- Customers
-
- Repair shops
- Individual customers
- Products
-
- Genuine parts
- Aftermarket parts
Events and Promotions
- Overview
- Actively holds various events to boost brand awareness.
- Competitiveness
- Robust brand support system
- Customers
-
- General customers
- Potential customer segments
- Products
-
- Test drive events
- Exhibition events
- Brand promotions
Competitive Advantage
Strengths
- Customer needs responsiveness through multi-brand handling
- Extensive nationwide sales network
- Business expansion power via aggressive M&A
- Ancillary services including vehicle maintenance and insurance sales
- Presence of major shareholder supporting management stability
- Brand-specialized dealer system with high expertise
- Environmental responsiveness through electric vehicle brands
- Regionally focused store operations nationwide
- Differentiation through diverse vehicle lineup
- Diversification of long-term leases and corporate services
- Robust after-sales service system
- Expansion into used car sales and exports
- Vehicle customization capabilities
- Comprehensive customer support system
- Training for service quality improvement
Competitive Advantages
- One-stop service through integrated handling of diverse imported car brands
- Local market development and scale expansion using M&A
- Early adoption of BYD in electric vehicles to strengthen environmental capabilities
- High customer satisfaction from advanced maintenance and customization services
- Stable revenue base built from corporate leases and rentals
- Customer touchpoints expanded via extensive nationwide dealer network
- Maintained strong relationships with each brand manufacturer
- Diverse sales channels including e-commerce and direct sales
- Revenue diversification through used car export business
- Strong brand loyalty fostered by specialized staff customer service
- Comprehensive strength from integrated after-sales and insurance sales
- Leading company in next-generation vehicle introduction amid tightening environmental regulations
- Increased loyal customers through region-specific services
- Ensured used car reliability via standardized appraisals and inspections
- Expanded brand awareness through abundant event planning
Threats
- Sales declines due to economic changes like novel coronavirus
- Impact of exchange rate fluctuations on imported car prices
- Risk of lagging in automobile industry electrification and decarbonization
- Shrinking domestic new car sales market
- Intensifying price competition with major competitors
- Shifts in consumer car ownership mindset and rise of car-sharing
- Fierce price competition in used car distribution
- Rising compliance costs from stricter environmental regulations
- Risk of changes in major brand sales policies
- Challenges in talent acquisition and technician shortages
- IT security risks
- Sales imbalances due to regional economic disparities
Innovations
2024: Subsidiary acquisition of used car export business
- Overview
- Acquired 51% of shares in used car export business 'ENG' and brought it under the group.
- Impact
- Contributes to strengthening overseas expansion of used car business and revenue diversification
2024: Acquisition of Peugeot and Citroën direct stores
- Overview
- Acquired multiple direct dealer stores from Stellantis Japan to expand sales network.
- Impact
- Strengthens brand deployment and sales capabilities
2023: Acquisition of BYD official dealer rights
- Overview
- Began official dealer deployment for electric vehicle brand BYD, entering the EV market.
- Impact
- Expands environmentally friendly vehicle lineup and acquires new customers
2023: Overhaul of Jaguar Land Rover operations
- Overview
- Transferred operations from Checker Motors to Willplus Enhance to strengthen structure.
- Impact
- Improves brand recognition and customer service quality
2023: Acquisition of MINI Kurume dealer
- Overview
- Acquired MINI sales base from former regional operator to reinforce region.
- Impact
- Enhances sales channels and brand power
2022: Expanded acquisition of Porsche official dealers
- Overview
- Acquired multiple Porsche official dealer rights centered in Sendai City to bolster sales.
- Impact
- Expands share in luxury car market
2021: Acquisition of Jaguar Land Rover Shonan store
- Overview
- Acquired Jaguar Land Rover store following former operator's closure to expand business.
- Impact
- Enhances brand presence and customer base
2020: Transfer of Volvo Cars Odawara
- Overview
- Transferred Volvo Cars Odawara externally to concentrate management resources and improve efficiency.
- Impact
- Strategic review and focused investment effects
Sustainability
- Expansion of environmentally friendly vehicle lineup
- Promotion of energy-saving and resource conservation measures at sales stores
- Local community environmental awareness activities
- Promotion of end-of-life vehicle recycling and resource circulation
- Enhanced internal IT utilization for CO2 emission reductions
- Contribution to decarbonization through electric vehicle普及