ENVALITH
VTホールディングス株式会社 logo

VT HOLDINGS CO.,LTD.

7593・Prime Market・Retail Trade

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VTホールディングス株式会社 logo
VT HOLDINGS CO.,LTD.7593

Automobile Sales-Related Business

Core business of VT Holdings, operating automobile dealerships, rental cars, and export both domestically and overseas.

PeriodCurrentPreviousChange
Revenue (external customers)¥357,041 million¥323,829 million↑
Segment profit (operating profit)¥8,005 million¥8,725 million↓
Segment assets¥244,700 million¥226,065 million↑
Depreciation and amortization¥16,468 million¥14,748 million↑
Capital expenditures¥27,719 million¥30,792 million↓
Impairment loss¥1,061 million¥754 million↑
Total automobile sales volume100,187 units98,154 units↑
New car sales volume51,078 units50,878 units↑
Used car sales volume49,109 units47,276 units↑

Business Details

Centered on Honda-affiliated, Nissan-affiliated, and imported car dealerships, imported car importers, and overseas automobile dealers (Spain, South Africa, Oceania, etc.), this segment engages in new and used car sales, automobile repair (service), rental cars, and used car exports. It is the core segment, accounting for approximately 91.8% of consolidated revenue. Comprising the New Car, Used Car, Service, Rental Car, Export, and Other divisions, the segment sold a total of 100,187 vehicles domestically and overseas (FY2026, ending March 2026).

Recent Overview

Revenue increased but operating profit declined 8.2% year-on-year. Expanded impairment losses and higher SG&A expenses pressured profit.

In the Automobile Sales-Related Business for FY2026 (ending March 2026), revenue increased to ¥357,041 million (110.3% year-on-year) driven by strong performance in the Spanish region and a recovery in used car sales. On the other hand, operating profit decreased to ¥8,005 million (91.8% year-on-year). A total of ¥2,693 million in expenses, including impairment losses on fixed assets and goodwill at unprofitable stores, weighed on profit. Motoren Sapporo Co., Ltd. (BMW/MINI sales) was made a consolidated subsidiary effective April 1, 2025, expanding the scope of consolidation. Domestically, the model changeover period for new Nissan vehicles continued, and domestic new car sales volume declined for both Honda-affiliated and Nissan-affiliated brands.

Key Products

product
New Car Sales (Dealer Business)

Domestically, Honda vehicle sales decreased to 7,593 units (96.0% year-on-year) and Nissan vehicle sales decreased to 12,479 units (86.2% year-on-year), but overseas sales volume was strong at 26,039 units (108.1% year-on-year). Group-wide new car sales volume was 51,078 units (100.4% year-on-year). Revenue was ¥186,740 million (prior period: ¥174,890 million).

product
Used Car Sales & Export

Export volume was subdued at 5,870 units (70.3% year-on-year), but used car sales excluding exports performed well in both domestic and overseas markets, resulting in group-wide used car sales volume of 49,109 units (103.8% year-on-year). Revenue was ¥89,372 million (prior period: ¥77,512 million).

service
Service (Inspection, Vehicle Inspection, Repair)

The company focused on expanding orders for inspection, vehicle inspection, repair, and commission income, achieving both higher revenue and profit. Revenue was ¥59,007 million (prior period: ¥51,779 million), up 13.9% year-on-year, expanding steadily as a stable revenue base leveraging the managed customer base.

service
Rental Car Business

Store openings proceeded smoothly at both directly-operated and franchise stores, achieving both higher revenue and profit. Revenue was ¥21,095 million (prior period: ¥19,045 million), up 10.8% year-on-year. Operated primarily through J-net Rent-a-Car Co., Ltd., capturing tourism and substitute-vehicle demand.

service
Imported Car Importer & Overseas Dealers

Strong performance in the Spanish region (MASTER AUTOMOCION, etc.) drove increases in both new and used car sales volume. The segment includes CATERHAM CARS GROUP LIMITED (UK), TRUST ABSOLUT AUTO (South Africa), SCOTTS MOTORS ARTARMON (Oceania), and others. Revenue attributable to Europe increased significantly to ¥164,378 million (prior period: ¥141,376 million).

Growth Drivers

  • Increase in new and used car sales volume driven by strong performance at overseas dealers (Spain, South Africa) (overseas new car sales 26,039 units, 108.1% year-on-year)
  • Recovery and expansion of domestic and overseas sales volume due to easing of the used car inventory shortage (used car sales 49,109 units, 103.8% year-on-year)
  • Strengthening of base revenue through expanded orders in the Service division (inspection, vehicle inspection, repair) (revenue ¥59,007 million, up 13.9% year-on-year)
  • Expansion of directly-operated and franchise store openings in the Rental Car division and increased tourism/substitute-vehicle demand (revenue ¥21,095 million, up 10.8% year-on-year)
  • Expected increase in domestic sales volume for FY2027 (ending March 2027) driven by a series of new Nissan model launches
  • Business expansion through M&A (consolidation of Motoren Sapporo Co., Ltd., etc.)

Risks

  • Continued weakness in domestic new car sales (Nissan-affiliated 12,479 units, 86.2% year-on-year; Honda-affiliated 7,593 units, 96.0% year-on-year, both declining)
  • Risk of impairment losses on fixed assets and goodwill related to unprofitable stores (impairment loss of ¥1,061 million recorded in the current fiscal year, up 40.7% year-on-year)
  • Decline in operating profit margin due to increased selling, general and administrative expenses (despite higher revenue, operating profit declined 8.2% year-on-year)
  • Impact on overseas operations (Europe, Africa, etc.) from foreign exchange fluctuations and geopolitical risks
  • Subdued used car export volume (5,870 units, 70.3% year-on-year) and risk of fluctuations in used car market prices
  • Risk of increased procurement costs due to rising labor costs and interest rates

Last updated: June 22, 2026