PARK24

Basic Information

Stock Code
4666
Industry
Real Estate
Category Detail
Real Estate & Housing
Prefecture
Tokyo
Establishment Year
August 1971
Listing Year
March 1997
Official Website
https://park24.co.jp/
TSE Information
TSE Information
Yahoo! Finance
Yahoo! Finance
Other Companies
Hatch Work, Apple Park, Japan Parking Development, Kobe Bussan, Trust Holdings, AZOOM, Round One, Paraca, WNI Weather, Japan System Bank

Overview

PARK24 is a leading company in the parking lot operation industry founded in 1971, operating 'Times' hourly parking lots nationwide with strengths in its unmanned hourly parking lot system.

Current Situation

PARK24 recorded consolidated sales of approximately 370.9 billion yen and operating profit of approximately 38.7 billion yen for the fiscal year ending October 2024, steadily growing as Japan's largest parking lot operator. The flagship brand 'Times' leverages its nationwide parking network to achieve efficient 24-hour unmanned operations. It is also advancing car-sharing services and has established a holding company structure for multifaceted mobility services. Technologically, it actively introduces electronic payment services and IC card compatibility to enhance convenience. From a sustainability perspective, it contributes to local communities and expands environmentally friendly parking facilities. Moving forward, further service diversification domestically and internationally, along with smart mobility, are positioned as key growth pillars. It has strengthened governance post-scandal and aims for highly transparent management.

Trivia

Interesting Facts

  • Started with parking operations and achieved diversification including car sharing.
  • The 'Times' brand is Japan's most recognized parking brand.
  • Pioneer in enabling diverse credit card payments for parking fees.
  • Founder Kiyoshi Nishikawa is also known as a prominent horse owner.
  • Times Club points can be donated to support children who lost parents in traffic accidents.
  • Introduced new winds to the industry with ICT-based parking operations.
  • Expanding bases overseas, centered on Asia and Oceania.
  • Pioneering industry-wide promotion of environmentally friendly parking designs.
  • Times Car Rental business succeeded Mazda Rent-a-Car network.
  • Headquarters searched in connection with 2022 Tokyo Olympics bribery scandal.
  • Early adoption of IC card payments for parking along major routes.
  • Occasionally featured on TV programs as innovator in parking business.
  • Points card balances personal usage promotion with social contributions.
  • Leads market with approximately 500,000 car-share members nationwide.
  • Self-developed parking management equipment adopted by many competitors.

Hidden Connections

  • Founding family member Kiyoshi Nishikawa is renowned in the horse racing industry.
  • Alliance with Japan GLP creates new model for parking utilization in logistics facilities.
  • Times Club points balance support for traffic accident orphans with customer loyalty.
  • Joint venture with GS Group enabled entry into Korean market with local branding.
  • Subsidiary Times Mobility succeeded Mazda Rent-a-Car business upon rebranding.
  • In 2022 Olympics bribery case, former chairman Tsunekazu Takeda resigned as outside director.
  • 'Times' unmanned parking system developed in collaboration with Japan Signal.
  • Former headquarters in Yurakucho Itocia, base for multiple group companies.

Future Outlook

Growth Drivers

  • Changes in parking demand due to diversifying automobile usage.
  • Improved customer retention through integrated mobility services.
  • Spread and convenience enhancement of electronic payment services.
  • Increased demand for parking operations amid urban smart city development.
  • Overseas expansion, especially in Asia.
  • Expansion of parking services in logistics facilities and special environments.
  • Government support for sustainable, environmentally friendly infrastructure.
  • Revenue stabilization through strengthened corporate services.
  • Advances in smart parking technologies using IoT and AI.
  • Strengthened collaboration with diverse transportation means and services.

Strategic Goals

  • Expand domestic parking spaces to 800,000.
  • Increase car-share membership to over 1 million.
  • Introduce environmentally friendly parking equipment to 70% of total.
  • Expand overseas revenue ratio to over 30%.
  • Develop smart city-related business as new mainstay.
  • Strengthen corporate parking and mobility services.
  • Achieve over 95% electronic payment usage rate.
  • Reduce CO2 emissions by 50% from current levels.
  • Expand social contribution programs and strengthen regional ties.
  • Improve operational efficiency and customer experience through advanced IT utilization.

Business Segments

Facility Operation Support

Overview
Provides services to support parking lot operations for various facilities.
Competitiveness
Extensive operational expertise and nationwide network
Customers
  • Real estate owners
  • Shopping mall operators
  • Local governments
  • Logistics companies
Products
  • Parking lot management services
  • Facility parking design
  • Equipment maintenance

Mobility Services

Overview
Offers diverse mobility solutions for corporate customers.
Competitiveness
Industry-leading market share and brand power
Customers
  • Corporate customers
  • Car-share using companies
  • Rental car companies
  • Local government transportation departments
Products
  • Car-sharing services
  • Corporate payment cards
  • Mobility consulting

Overseas Business Expansion

Overview
Expands parking business mainly in Asia and Oceania regions.
Competitiveness
Local subsidiary establishment and partnership strategies
Customers
  • Overseas real estate management companies
  • Partner companies in Asia and Oceania
  • Foreign government agencies
Products
  • Overseas hourly parking operations
  • Parking lot matching services

IT Systems and Payments

Overview
Parking operation support services utilizing cutting-edge IT.
Competitiveness
Proprietary payment and management software development
Customers
  • Related subsidiaries
  • Partner financial institutions
  • Parking lot owners
Products
  • Electronic payment platform
  • Parking lot management system

Advertising and Marketing Support

Overview
Advertising and promotion support services utilizing parking lot media.
Competitiveness
Utilization of extensive parking lot network
Customers
  • Advertisers
  • Commercial facilities
  • Local governments
Products
  • Parking lot advertising spaces
  • Times Club promotions

Environmental and Sustainability Initiatives

Overview
Proposals and implementation of parking operations aimed at reducing environmental impact.
Competitiveness
Industry-first track record in environmental technology adoption
Customers
  • Local governments
  • Partner companies
  • Customers and users
Products
  • Environmentally friendly parking lot design
  • Community contribution programs

Logistics Facility Collaboration

Overview
Supports optimization of parking usage in logistics facilities.
Competitiveness
Business alliance with Japan GLP to expand advanced services
Customers
  • Logistics companies
  • Large logistics facility operators
Products
  • Reservation-based parking service B-Times
  • Large facility internal parking management

Competitive Advantage

Strengths

  • Industry's largest parking lot network
  • Technological prowess in unmanned parking systems
  • Strong 'Times' brand
  • Diversified mobility business
  • Nationwide sales and management structure
  • Convenience of electronic payment compatibility
  • Overseas market expansion
  • Ability to meet diverse customer needs
  • Corporate card issuance
  • High sustainability awareness
  • Collaboration with partner companies
  • Long years of parking operation expertise
  • Flexible contract formats
  • Community-based services
  • Active adoption of IT technologies

Competitive Advantages

  • Overwhelming number of parking spaces through nationwide expansion
  • Reduced operating costs via proprietary unmanned management system
  • High brand recognition in car-sharing sector
  • Built advanced electronic payment platform
  • Balances community contributions and environmental considerations
  • Comprehensive service provision for diverse customer segments
  • Expanded revenue base through overseas operations
  • Strengthens customer retention with corporate payment cards
  • Seamless provision of diverse mobility services
  • Industry-leading R&D investment and innovation capabilities
  • Enhances customer loyalty via Times Club points program
  • Business expansion through partner collaborations
  • Maximizes occupancy rates with proprietary parking management system
  • Develops new markets with logistics facility services
  • Transparent management and governance structure

Threats

  • Impact of economic fluctuations on parking demand
  • Intensifying competition from new entrants
  • Regulatory change risks (e.g., parking monitoring systems)
  • Declining parking demand in urban areas
  • Service model changes due to technological innovations
  • Reduced usage from spread of new mobility options
  • Corporate image damage from scandals
  • Political and economic risks in overseas operations
  • Increased equipment investment from stricter environmental regulations
  • Information security and cyber risks
  • Facility damage risks from natural disasters
  • Societal movements to curb automobile usage

Innovations

2024: Expansion of Electronic Payment Services

Overview
Officially introduced 'Times PAY' service compatible with various credit cards to improve convenience.
Impact
Contributes to higher customer satisfaction and payment processing efficiency.

2023: Strengthened Rollout of Reservation-Based Parking Matching Service 'B-Times'

Overview
Expanded introduction of reservation parking in logistics facilities through business alliance with Japan GLP.
Impact
Successfully secured new revenue sources in logistics sector.

2022: Smart Parking System Development

Overview
Test-introduced IoT and AI-based automatic vacancy detection and guidance systems in select facilities.
Impact
Improved parking utilization rates and customer convenience.

2021: Overseas Business Expansion

Overview
Acquired subsidiaries Secure Parking and National Car Parks to expand overseas parking operations.
Impact
Diversified revenue and advanced global expansion.

2020: Car-Sharing Brand Refresh

Overview
Renewed 'Car Share 24' to 'Times PLUS' to increase membership.
Impact
Contributed to attracting younger demographics and enhancing service value.

Sustainability

  • Contributes to reducing traffic congestion through reservation parking usage
  • Promotes adoption of environmentally friendly parking equipment
  • Strengthens sponsorship and participation in local community events
  • Promotes infection control measures via contactless payments
  • Implements programs to improve employee work-life balance
  • Provides funding for environmental education programs
  • Sets group-wide CO2 emission reduction targets
  • Promotes waste reduction and recycling activities
  • Advances energy savings through smart technologies
  • Fosters corporate culture respecting diversity and inclusion