IR News

Summary of Financial Results for the Fiscal Year Ended October 31, 2011 and Medium-Term Management Plan

In its consolidated financial results for the fiscal year ended October 31, 2011, PARK24 Co., Ltd. (head office: Chiyoda-ku, Tokyo; President: Koichi Nishikawa) reported record highs in operating profit and recurring profit, posting net sales of 124.08 billion yen (an increase of 9.6% year on year), operating profit of 13.29 billion yen (a rise of 3.5%), and recurring profit of 12.71 billion yen (climbing 7.0%).


■Overview of the fiscal year ended October 31, 2011

Parking Business: Record profit through the development of parking facilities with strong earnings potential

The number of Times parking spaces managed rose to an all-time high of 357,129 spaces (up 13.7% year on year; number of parking spaces managed including monthly parking and facility management services was 473,261 spaces), due to acceleration in new parking facility openings. Net sales in the business of running parking facilities reached a record high, rising 7.8% to 102.01 billion yen, reflecting the ongoing accumulation of sites managed as a result of vigorous development of parking facilities and continued early realization of earnings at new parking facilities. At the same time, Group companies worked together to improve the quality of parking facilities in areas such as maintenance of parking facilities and call center customer service.


Mobility Business: Leader in car sharing market with 70,000 members

The Group stationed cars at Times parking facilities for its TimesPLUS car sharing service with increasing speed and, as a result, the number of members rose dramatically. As of October 31, 2011, the Group was leader in the car sharing market, with 2,145 sites (up 187% year on year), 2,727 spaces (up 164%) and 71,850 members (up 207%). Meanwhile, in its Rent-a-Car business, the Group worked to strengthen corporate sales. Consequently, total sales in the Mobility Business were X billion yen, rising X% year on year.


Medium-term management plan

500,000 spaces of Times parking, 40,000 spaces of mobility network

The Group’s basic management policy is to play its part in creating a comfortable motorized society and to continue to achieve double-digit growth in recurring profit.

In the medium-term, the Group aims to further expand Times parking facilities, which form the basis of its services, and to create a mobility network. In the Parking Business, the Company plans to increase the number of Times parking spaces managed to 500,000 by October 31, 2014. In the Mobility Business, the Group is working to develop the car sharing market, quickly expanding its TimesPLUS service to create and firmly establish an environment in which people know car share options will be available if they go to a Times parking. The Group also aims to expand its network of Rent-a-Car Service outlets. Through these initiatives, the Group plans to create a mobility network of 40,000 spaces.

By building up and merging its network of Times parking facilities and its mobility network, the Group aims to achieve net sales of 180 billion yen and recurring profit of 24 billion yen (average growth of 24%) in the fiscal year ending October 31, 2014.


Initiatives in the fiscal year ending October 31, 2012

Parking Business

In its development operations, the Group is aiming for a record of 1,650 newly developed sites and 72,000 newly developed spaces. In TPS business, the Group is working to develop 400 new sites, representing a 31% increase year on year, by offering high added value services. The Group aims to achieve record high sales and profits through continued early realization of earnings at new parking facilities and strong promotions to increase use of existing parking facilities.


Mobility Business

In the Car Sharing Business, the Group aims to station cars in 4,200 spaces by October 31, 2012 and is rigorously promoting the business to increase the number of cars at existing stations and expand its operating areas. At the same time, the Group plans to promote use of its car sharing service by stepping up corporate sales and pursuing plans with commercial facilities and other business partners, and aims to achieve operating profit of ±0 yen by October 31.


As a result of the initiatives described above, the Group aims to set new record highs in its consolidated financial results, predicting net sales of 139 billion yen, rising 12.0% year on year, operating profit of 16.5 billion yen, up 24.1% year on year, and recurring profit of 16 billion yen, an increase of 25.9% year on year.