NEXTAGE Co., Ltd.

Business Details

The Group operates a used car sales business (General Stores, SUVLAND, UNIVERSE), a new car sales business (authorized import car dealerships for VOLVO, BMW, AUDI, and others), a maintenance business, an insurance agency business, a car purchasing business and mobile purchasing business, and a car coating business. By staying close to customers throughout their lifetime car ownership journey and providing an integrated service spanning sales, maintenance, vehicle inspection, purchasing, and next-vehicle proposals, the Group pursues expansion of its managed customer base and high profitability. As of the end of May 2026, the Group operated 248 locations and 364 stores nationwide.

Recent Overview

Achieved substantial growth in the interim period, with net sales up 26.6% and operating profit up 99.3% year on year

In the interim period of FY2026 (ending November 2026) (December 2025 to May 2026), the Group achieved substantial growth in both revenue and profit, with net sales of ¥391,212 million (up 26.6% year on year) and operating profit of ¥14,088 million (up 99.3% year on year). Units sold reached 255,542 (up 16.0% year on year). The Group opened 6 new General Stores, 1 SUVLAND store, and 5 purchasing stores in the Kanto-Koshinetsu, Kansai, Kyushu-Okinawa, and other regions, expanding the period-end store count to 248 locations and 364 stores. The full-year earnings forecast was revised upward, with net sales now projected at ¥746,000 million and operating profit at ¥27,600 million (up 40.8% year on year). In addition, four new companies—ett Co., Ltd., Shin, Fiorente, and ism—were newly established and added to the scope of consolidation.

Key Products

Growth Drivers

• Expansion of sales area through new store openings (248 locations and 364 stores at the end of May 2026, an increase of 8 locations and 13 stores year on year)
• Improvement in direct-procurement ratio and reduced reliance on auctions through increased vehicle purchasing volume
• Accumulation of ancillary revenue from maintenance, vehicle inspection, and insurance as the managed customer base expands
• Expansion of the authorized import car dealership business (acquisition of locations through business transfers and new establishments)
• Improved inventory efficiency and maximized revenue opportunities through visualization and optimization of inventory turnover days
• Expansion of business domains through the establishment of four new subsidiaries (ett, Shin, Fiorente, and ism)

Risks

• Risk of gross margin decline due to fluctuations in used car market prices and procurement costs
• Risk of downward pressure on personal consumption from continued price increases
• Risk of domestic economic downturn due to the impact of US trade policy
• Risk of deteriorating business environment due to developments in the Middle East and volatility in financial and capital markets
• Risk of constraints on expanding maintenance revenue due to a shortage of mechanics
• Obligation to comply with net asset maintenance and ordinary income/loss conditions attached to borrowings with financial covenants
• Risk of rising funding costs due to volatility in financial and capital markets (derivative valuation losses expanded from ¥71 million in the same period of the prior year to ¥363 million)
• Risk of rising financial leverage due to increased acquisition of tangible fixed assets and long-term borrowings associated with accelerated store openings (equity ratio declined from 34.9% to 33.1%)