about idom...apr 15, 2019 · idom ラビットidom t-up アップル カーチス ユーポス...
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About IDOM
IDOM Inc.
Business model and overview
Corporate information
ESG & IT
Updated: April 15, 2019
2
Contents
I. Business model and overview 3
Distribution of purchased used cars (past and present) 4
Dolphinet system 10
Competitiors and market information 11
New services 15
Overseas business 18
II. Corporate information 19
IDOM Group 20
History of IDOM 21
Directors, Auditors and Advisers 23
III. ESG & IT 24
I. Business model and overview
3
Distribution of purchased used cars (past)
4
Pool Center
Appraisal
General
Customers Luxury
foreign cars Foreign
cars
People
movers Eco-cars Light cars Older model cars
Auction Sites
Approx.
120 sites
USS
JU
JAA
LAA
・・・
Used-car dealers
Strictly controlled
inventory period
Purchase(Stock)
Wholesale B to B
5
Budget-priced cars Light cars Original Gulliver Store Minivans Large-sized store Foreign cars Luxury foreign cars Shopping mall
・・・
General
Customers Luxury
foreign cars Foreign
cars
People
movers Eco-cars Light cars Older model cars Appraisal
Purchase(Stock)
Retail Sales B to C
Wholesale B to B Auction Sites
Approx.
120 sites
USS
JU
JAA
LAA
・・・
Used-car dealers
Strictly controlled
inventory period
Distribution of purchased used cars (present)
6
OUTLET (budget-priced cars)
Original Gulliver store (focused in purchasing)
7
SNAP HOUSE (specialized in minivans)
Gulliver MINICLE (specialized in light cars)
8
LIBERALA (specialized in foreign cars)
LIBERALA (specialized in foreign luxury cars)
9
WOW! TOWN (large-sized store)
HUNT (shopping mall)
10
Dolphinet system
Purchased vehicles are registered on Dolphinet
and can be viewed at stores nationwide
Registered
information
Detailed vehicle information
Remaining days in stock
・ Vehicle exterior / interior images ・ Model / Make / Year / Distance driven ・ Main equipment (options, features)
・ Repair history ・ Exterior conditions (small dents and scratches)
・ Interior cleanliness (ranked 5 levels: A-E) ・ Valuation score (out of 100)
11
IDOM ラビット T-UP アップル カーチス ユーポス カーセブン
(The total number of cars purchased by directly-managed stores and franchised stores)
Number of used cars purchased by 7 major companies in Japan
No.1 in used car purchases
IDOM Rabbit T-UP Apple Carchs U-POHS CARSEVEN
0
50,000
100,000
150,000
200,000
(unit: No. of cars) Source: Yano Research Institute, 2015 results of Used Car Distribution Industry 2017
12
New
Used
Used
New
Used car prevalence in Japan and the U.S.
Japan The U.S.
'12/2 '13/2 '14/2 '15/2 '16/2 '17/2 '18/2 '19/2
13
Source: Car Max Annual Reports
Car Max, the leading company in the U.S. used car market
(unit: No. of cars)
200,000
0
Wholesale
Earnings before income taxes
Retail
(unit: million dollars)
800,000
600,000
400,000
1,000,000
600
400
0
200
800
1,000
Earnings before income taxes
1,112 million dollars
Wholesale unit sales
447 thousand cars
Retail unit sales
748 thousand cars
* Result from an internet survey conducted in August 2014 (target: 1000 persons)
Increasing interests in buying used cars
among younger generation
14
Survey among different age groups
% of respondents
who bought a used car for their first car
% of respondents who would consider
buying a used car for their next car
% of respondents who would consider
buying a used car more positively than before
25%
35%
38%
40s 30s 20s People in their 20s
20 years ago
People in their 20s
10 years ago
40
30
20
10
(%)
0
42%
51%
62%
40s 30s 20s
70
60
40
20
(%)
0
50
30
10
26%
33%
42%
40s 30s 20s
50
40
20
(%)
0
30
10
15
New service (1) “NOREL”
Monthly-flat rate short-term leasing service
Users can select cars to suit their lifestyle or seasons
* Monthly fee: from 59,800 (before the consumption tax)
Including ●Vehicle insurance (voluntary insurance) ●Taxes (vehicle tax, weight tax) ●Safety inspection certificate
Change to next vehicle
after minimum of 90 days
BMW/MINI new car NOREL 2 Used car NOREL 1
Change to another new vehicle
after every 5,000 km (Maximum of 10 months per vehicle)
16
Seller
C2C platform
Guarantee
Sold on
“Gulliver FleMa”
Maintenance
Option
Inspected by
Gulliver Cars put up on
“Gulliver FleMa”
Contract commission
68,000 yen*
Customers who had
their cars appraised but
did not accept the offer
Buyer
Contract commission
60,000 yen*
New service (2) “Gulliver FleMa”
* Commission fees for the vehicle price between 500,001 and 1,000,000 yen. The fees vary according to the vehicle price.
* “Gulliver FleMa” (flea market) is formerly operated under the service name “Kurumajiro”
17
New service (3) “GO2GO”
* Service areas: Tokyo, Kanagawa, Chiba, Saitama and Osaka (planned, as of April 2019)
C2C car-sharing service offering car owners to share their cars when not in use
and reduce burden of car ownership
Owner User
Reservation
Vehicle
Registration
Sharing agreement
Fees
+
Insurance
Fees
-
Commission
18
Overseas business
New Zealand Australia
The U.S. Used car
exports
Used car sales
(Directly operated)
New car
dealers
Used car purchases
and sales
(Directly operated)
II. Corporate information
19
Gulliver
EAST
IDOM Group
20
Gulliver
U.S.A.
Gulliver
NewZealand
100%
Overseas Business
New Zealand
100%
100%
100% 100%
USA
IDOM
IDOM Automotive
Group
Australia
100%
67%
IDOM
Automotive
Essendon
Buick
Holdings
100%
Sm
art C
on
ne
ct
Gu
llive
r Insu
ran
ce
Co., L
td.
Advertising
agency
Insurance
agency
Consolidated
BMW/Mini
Dealer
Motoren Glanz
Co., Ltd.
Tokyo My Car
Sales Co., Ltd.
Motoren Global
Co., Ltd.
100% 100%
Consolidated Direct
Stores
3
Consolidated Direct
Stores
2
Consolidated Direct
Stores
11
100%
Direct Stores
519
Franchise Stores
69
Consolidated Consolidated Affiliated Direct
Stores
2
Direct
Stores
4
Direct
Stores
5
Direct
Stores
25
Consolidated Consolidated Direct
Stores
1
Consolidated
* The numbers of stores are as of February 28, 2019. Some of the subsidiaries are excluded in the above chart.
21
History of IDOM
1994 Establishment of Gulliver International Co.,
Ltd.
Corporate Business Awards
1998
1999
2000 Listed on TSE Second Section (Fastest
from establishment in record at the time)
2002
2003
2004
2006
2008
Launched Dolphinet system
Established 500 stores network mainly with
franchised stores
Moved the headquarter to current location
Started “DUO management style” by 2
presidents
“IR Special Award”
(Japan Investor Relation Association)
Became the first and only “hyper growth
company” in Japan *title used in the U.S. for a fast growing company which
achieved 1 billion annual sales within 10 years from its
establishment
Gulliver USA, Inc. established
Listed on TSE First Section
Received “Porter Award”
Awarded “2nd High Service Japan 300” (Service Productivity & Innovation for Growth)
2009 Started “10 year gurantee service”
Share listing on the OTC market (Second
shortest from establishment in record at
the time)
2010 Transferred shares of G-one Credit
Services, the financial service subsidiary,
to SBI Holdings
22
History of IDOM
2011
2012
2014
2015
2016
2017
Motoren Global established
(Started BMW/MINI dealer in Hokkaido)
Opened first store in New Zealand
Acquired Nakamitsu Motors which
operates BMW/MINI dealers in Chiba and
change the company’s name to Motoren
Glanz
Obtained 67% of shares in Buick Holdings
Pty Ltd., the new car dealers in Western
Australia
Changed the company’s name to
IDOM, Inc.
Opened the first large-scale showroom
“WOW! TOWN Makuhari”
Renewed headquarter-bulk-appraisal
system (implemented mobile device in car
inspection at each stores)
Started “Gulliver Flema (Kurumajiro)”
service
Started “NOREL” service
Ranked 29th in “Best Workplaces”
(Great Place to Work Institute Japan)
Awarded for 7 consecutive years
2011-2017
Received “IT Japan Award 2012”
(Nikkei Computer)
Selected as “2017 Competitive IT
Strategy Company”
(Ministry of Economy, Trade and
Industry & Tokyo Stock Exchange)
“Best Workplaces” ranked 18th,
highest ranking since 2011
Accelerated opening of display sales
stores under midium-term business policy
Launched the pre-delivery maintenance
service center
Corporate Business Awards
2018
2019
Acquired Melbourne-based new car dealer
group in Australia
Started C2C sharing service “GO2GO”
23
Directors, Auditors and Advisers (As of April 15, 2019)
Honorary Chairman
Kenichi Hatori
Founded Gulliver in 1994.
Appointed representative director and chairman
of Gulliver in 2008. Appointed honorary chairman
of Gulliver in 2016.
Adviser
Hideo Yamada
12th Commissioner General of the National
Police Agency.
Appointed advisory of Gulliver in 2016.
President
Yusuke Hatori
Born in 1971. Joined Gulliver in 1995, one year after its foundation. Set up several stores, starting with the Sapporo store. After
serving as director, executive director, and senior executive director, appointed representative president and director in 2008 with
the transition to a dual president structure. Currently responsible for corporate strategy, and supervises overseas business,
franchise operations, and administration division, among others.
President
Takao Hatori
Born in 1972. Joined Gulliver in 1995, one year after its foundation and established the first Kanto store.
After serving as director, executive director, and senior executive director, appointed representative president and director in 2008
with the transition to a dual president structure. Currently responsible for corporate strategy and supervises directly managed
businesses in general.
Director
Masaru Ohta Born in 1964 and joined the Company in 1997. Appointed executive officer in 2009. Appointed director in 2016.
Director
Koichi Noda
Born in 1966. Graduated Harvard Business School. Held several executive positions including Executive Officer at Rakuten, Inc.
Appointed director of IDOM in 2018.
Currently serves as a Chief Human Resources Officer, Walmart Japan Holdings, K.K.
Auditor
Masakatsu Endo
Tax accountant. Representative director of
Wakaba Kaikei Center. Appointed Audit &
Supervisory Board member of Gulliver in
2000.
Auditor (Full-time)
Kunie Yanagawa
Served at Itochu Corporation before joining Union Optical Co., LTD., where he served as representative director and president and
representative director and chairman.
Subsequently held several board member positions at companies including a subsidiary of Gulliver. Appointed Audit & Supervisory
Board member of Gulliver in 2016.
Auditor
Hiroto Nakamura
Certified public accountant. Head of Nakamura
Accounting Office. Appointed Audit & Supervisory
Board member of Gulliver in 2008. Currently serves
as outside Audit & Supevisory Board member of
MANDARAKE INC.
Internal
Independent
Director
Internal
Internal
Internal
Independent
Director
Outside
Outside
Independent
Director
Outside
Director
Jun Sugie
Born in 1956. Joined Ministry of Finance and worked as chief of the Tokyo Regional Taxation Bureau among other important
posts.Appointed director of IDOM in 2017.
Currently serves as a Vice Chairman and Senior Director, The Investment Trusts Association, Japan. Independent
Director
Outside
III. ESG & IT
24
25
ESG/IT Important Issues
Achieve highly transparent used
car market and create new
usage value for cars
Purchase used cars from customers at high transparent prices and provide
good-quality, reliable cars through our national network of stores (approx. 500
stores) and help to enrich the car lifestyles of customers even if they are in
regions where cars are just a necessity.
Also pursue to create new value in use of cars.
Pursue CS-orientated management.
Improve the motivation and workstyles
of personnel who bring the customer
satisfaction
Utilize IT as our competitivenes
More than 120,000 retail units are sold at IDOM’s directly-managed stores
annually. Reflect the customer feedback and opinions in business
management, as well as work to improve the development, motivation, and
workstyles of more than 3,000* employees throughout Japan who are
dedicated to satisfy our customers.
Reinforce risk management and
corporate governance
Aim for growth by taking advantage of our culture of integrating IT in our
business. Also use IT to initiatives aimed at ESG issues.
Reinforce operational risk management to improve sustainable corporate
value. Incorporate investor opinions in efforts to improve corporate
governance issues.
*IDOM non-consolidated, directly-managed stores
1
2
3
4
26 Aggregate CS survey cards from customers who use directly-managed stores.
“Q. How likely are you to use our store again?”
CS management
’11/2 ’14/2 ’17/2
80
60
40
20
0
100
(%)
48% 53%
64%
50% 45%
35%
2% 2% 1%
Issue 2
A dedicated team monitors feedback from
customers as core benchmarks. Link to
improvements to operations and business.
Use CS data analysis to improve business
Use customer satisfaction rates in addition to
performance to evaluate employees and stores.
Reflect in HR evaluations
CS survey
Very likely Moderately
likely
Not likely
/ Not at all likely
27
Initiatives related to motivation and workstyles
29th
2011 2017
Conducted by the Great Place to Work® Institute Japan
Survey on state of corporate initiatives and employee awareness
(participating companies: 379 companies in 2017)
1,000 or more employees group
18th
Issue 2
Evaluations by external institutions
(Ranked as a top company in “Best Workplaces”
for seven consecutive years)
Workplace improvement
Promoting women’ s active participation in the
workplace. Epmloyees taking a leading role in
creating the culture
“Sakura Project” – promoting women's
active participation in the workplace
Improving work efficiency by incorporating mobile
devices for store operations
Using BI tool to centralize management data
Reinforce work time management
Increasing productivity
"Best Workplaces" ranking
28
IT use
Creating structure and culture that can actively
utilize IT in business
IT personnel development
Maximizing efficacy by conducting IT-ROI
evaluations for IT investments
I. Management
II. Strategic
IT use
III. System, personnel
V. Evaluation
IV. Platform
0%
20%
40%
60%
80%
100%
Average for all industry
Wholesale
IDOM
Issue 3
“Competitive IT Strategy Company 2017” Promote company-wide IT utilization
IT Japan Award 2012
(Conducted by Nikkei Computer)
"Competitive IT Strategy Company 2017"
(METI, Tokyo Stock Exchange)
External evaluations
29
ESG/IT Core Initiatives
So
cie
ty
En
viro
nm
ent
IT use Create organization that can integrally promote business and IT
Go
ve
rna
nce
IT
Continuous improvement to
corporate value through
engagement
Reflect investor opinions in management and IR activities (IR meetings held: approx. 300 in
FY2019)
Operations risk management
Compliance education and enlightenment activities
(hold compliance tests, establish compliance internal web sites, distribute internal newsletters)
“Fair Evaluation Committee” established
Reinforce rules and regulations (information security regulations, personal information
management regulations, etc.)
Operate whistleblowing system
Improve employee motivation Use external evaluations (ranked as a top company in “Best Workplaces” for seven consecutive
years 2011-2017)
Workstyle reform Reforming workstyles and improving productivity by IT utilization
Reinforcing work time management and operating hot-line
Personnel development Education system (training system, e-learning, etc.)
CS-focused personnel evaluation system
Focus on diversity, women’s
active participation
Promoting corporate culture that does not have stereotypes related to nationality, gender, etc.
"Sakura Project" - Support for women's active participation in the workplace
Offer new usage value for cars NOREL used car utilization service that allows vehicle switching and sharing
C2C car-sharing service GO2GO
Coexist with communities
Nationwide store openings, coexistence with local communities (number of directly-managed
stores: 519, as of February 2019)
Inventory sharing system to enable sales of reliable, good-quality cars throughout Japan
Pursue customer satisfaction Continue CS surveys
Conduct regular blind surveys by third parties
Reliability Return system, up to 10 year warranty service, etc.
Social support For each car purchased or sold, a donation is made to UNICEF through “UNICEF Support Gifts” in
which customer can choose from a selection of gifts (since 2011).
Highly transparent used car
distribution and recycling-based
business model
FY2019 - IDOM non-consolidated sales (in units)
Retail: 124,527; Wholesale: 92,708
Reducing environmental load
Promoting paperless operations (digitization of sales contracts, online sharing of internal
documents, etc. )
Installing LED lighting in the headquarter and stores