AUTOWAVE CO.,LTD.
2666・Standard Market・Retail Trade
Business
AutoWave Co., Ltd. was established in 1990 and is a TSE Standard Market-listed company operating mainly within Chiba Prefecture. The company runs two business segments: the "Automobile-related Business" (approximately 68% of net sales), centered on New and Used Car Sales & Purchase, Vehicle Inspection & Maintenance Service, and automobile accessories sales, and the "Gyomu Super Business" (approximately 32% of net sales), which sells frozen and processed foods. In the Automobile-related Business, the company is advancing its transformation into a comprehensive car dealer, while in the Gyomu Super Business, it operates multiple stores within Chiba Prefecture as a franchisee of Kobe Bussan's Gyomu Super. The company has also expanded into other business areas such as coin laundries, bicycle sales, and simulation golf, aiming to become a "Total Life Partner" for local residents.
Business Model
In the Automobile-related Business, the company maximizes customer lifetime value by using regular store visits for Vehicle Inspection & Maintenance Service as a starting point, from which it proposes accessory sales such as tires and encourages trade-ins for new and used vehicles. The official app "myCAR Karte (Official App)" provides maintenance history management and reservation functions to increase visit frequency. The Gyomu Super Business secures everyday customer traffic through an everyday-low-price strategy, and builds up earnings by opening co-located stores on existing store sites or within existing stores to hold down fixed costs.
Company Strengths
Since the opening of the Miyanogi store in 1991, the company has expanded its Automobile-related Business, Gyomu Super, coin laundries, bicycle sales, and simulation golf operations within Chiba Prefecture. Gyomu Super has grown from its first store opening in 2013 to a total of 8 stores as of the Toke store opening in February 2025. The company has achieved multi-format expansion while restraining new investment by co-locating additional stores on the sites and within the premises of existing stores.
The official app "myCAR Karte" (Official App), released in FY2026 (ending March 2026), features maintenance history tracking for oil changes, battery replacements, vehicle inspections, and other services, along with advance notifications for upcoming maintenance and an in-app service booking function. During the fiscal year, the number of app members and service bookings increased steadily, confirming the app's contribution to promoting store visits and strengthening the revenue base.
In FY2026 (ending March 2026), the Gyomu Super Business posted net sales of ¥3,186 million (up 19.9% year on year) and segment profit of ¥104 million (up 215.2% year on year), achieving a substantial improvement in profit margin. This reflected the full-scale contribution from stores opened in the previous fiscal year combined with stable customer traffic at existing stores, expanding the segment's share of total sales to approximately 32%. This has advanced the diversification of revenue sources and reduced dependence on the Automobile-related Business.
ENVALITH's Perspective
Performance Trend
Net sales increased for five consecutive periods, rising from ¥7,426 million in FY2022 (ended March 2022) to ¥9,835 million in FY2026 (ending March 2026). Operating income peaked at ¥334 million in FY2024 (ended March 2024), fell to ¥274 million in FY2025 (ended March 2025), and recovered to ¥318 million in FY2026 (ending March 2026). This recovery was driven by the effect of new store openings in the prior period in the Gyomu Super Business and increased sales in the Automobile-related Business. Net income surged to ¥441 million due to an increase in the recoverability of deferred tax assets (income tax adjustment of ¥-164 million), though it should be noted that this includes a temporary factor. As external factors, rising prices and a stronger savings mindset boosted demand for Gyomu Super, while surging raw material prices and a weaker yen affected procurement costs. For FY2027 (ending March 2027), operating income is forecast to decline 17.6% year on year to ¥262 million due to an increase in selling, general and administrative expenses.
Growth Strategy
A dual-axis growth strategy combining the transformation of the Automobile-related Business into a comprehensive car dealership model and aggressive store openings in the Gyomu Super Business
Provides maintenance history management for oil changes, battery replacement, vehicle inspections, body coating, and other services, along with an in-app service booking function. In FY2026 (ending March 2026), app membership grew steadily and the number of service bookings also increased. Results are emerging both in encouraging store visits and improving customer convenience, contributing to a stronger revenue base.
Continuing to shift the core business area from car accessories retail to customer acquisition centered on vehicle inspection and maintenance, while strengthening new and used car sales through trade-in proposals tailored to vehicle condition. The company continues to pursue a policy of using vehicle inspections as a starting point to drive sales of accessories such as tires, promoting lifetime customer conversion across the entire car-life cycle.
Working closely with Kobe Bussan and related business partners, the company continues to investigate and select candidate properties for new stores while keeping aggressive store openings in view. In FY2026 (ending March 2026), the earnings contribution from stores newly opened in the previous fiscal year began to materialize in full, achieving net sales of ¥3,186 million (up 19.9% year on year) and segment profit of ¥104 million (up 215.2% year on year).
In addition to Gyomu Super, the company is advancing integration with other industries such as bicycle sales and coin laundries, promoting store formats that enhance convenience for local residents. It also plans to pursue improved profitability in parallel through effective use of idle space and strengthened inventory management and loss prevention.
Last updated: July 19, 2026