ENVALITH
株式会社オプティマスグループ logo

OPTIMUS GROUP COMPANY LIMITED

9268・Standard Market・Wholesale Trade

Official website
株式会社オプティマスグループ logo
OPTIMUS GROUP COMPANY LIMITED9268

Business

Optimus Group Company Limited is a holding company that vertically integrates the automotive value chain across five segments—Import & Export, Logistics, Inspection, Services, and Retail & Wholesale—building on its origins in the used vehicle export business to New Zealand launched in 1989. In New Zealand, the company has established a "New Zealand Model" that provides an integrated offering spanning used vehicle procurement from Japan, transport, pre-shipment inspection, local vehicle certification, auto loans, and an online trading platform. In Australia, the company has made Autopact Holdings Pty Ltd, a major new vehicle dealer group, and Autocare Services Pty Ltd, the industry's second-largest comprehensive automotive logistics company, into consolidated subsidiaries, and is building an "Australia Model" centered on new vehicle sales and domestic logistics. The group comprises 62 consolidated subsidiaries and 6 equity-method affiliates, with net sales reaching ¥315,507 million in FY2026 (ending March 2026).

Business Model

The Import & Export segment (Nichibou Co., Ltd.) procures used vehicles at auto auctions, with Inspection (JEVIC Corporation), Logistics (Dolphin Shipping), local vehicle certification (VINZ), and auto loans (Auto Finance Direct) within the group working in coordination to provide a one-stop service, building up revenue at each stage of the process. In Australia, New Vehicle Sales (Autopact Holdings, 142 stores) and land transport logistics (Autocare Services) complement each other, forming a synergy structure in which increased sales volume directly drives logistics demand.

Company Strengths

The Group has built an integrated system covering everything from procurement, pre-shipment inspection, ocean transport, local vehicle certification, auto loans, and online sales/purchase platforms in-house. Nichibou Co., Ltd.'s unit sales in FY2026 (ending March 2026) reached 49,611 units (up 18.1% year on year), while JEVIC Corporation holds certified body status from New Zealand's MPI and NZTA and Australia's DAFF, among others, and has obtained ISO/IEC17020 accreditation.

The Company made Autopact Holdings Pty Ltd (142 stores across three eastern states, approximately 40 brands) a consolidated subsidiary in November 2023, followed by Autocare Services Pty Ltd (New Vehicle Land Transport in Australia) (the industry's second-largest comprehensive automotive logistics company) in May 2024. As a result, Retail & Wholesale segment revenue expanded sharply to ¥192,287 million in FY2025 (ending March 2025), and the Group's total revenue grew approximately sevenfold from ¥45,539 million in FY2022 (ending March 2022) to ¥315,507 million in FY2026 (ending March 2026).

Nichibou Co., Ltd. procures vehicles in line with customer needs, employing a low-inventory-risk model that minimizes stock without confirmed buyers. JEVIC Corporation operates inspection facilities located within port areas at major ports (Yokohama, Nagoya, Osaka, and Moji), and holds certified body status in multiple countries along with a patented heat treatment facility, giving it a regulatory licensing advantage that is difficult for competitors to replicate in the short term.

ENVALITH's Perspective

After falling into a net loss of ¥483 million in FY2025 (ended March 2025), the company returned to profitability in FY2026 (ending March 2026) with net income of ¥2,469 million. Basic earnings per share nearly doubled from ¥19.83 to ¥36.16. Operating profit also increased 39.6% from ¥7,048 million to ¥9,837 million, and the operating margin was maintained at 3.1%, roughly in line with the previous period (3.3%). This result confirms the emergence of M&A integration effects and the stabilization of the revenue base, and can be assessed as a turning point in financial improvement.

Revenue expanded roughly 6.9-fold over five years (compared to FY2022 (ended March 2022)), but the operating margin for FY2026 (ending March 2026) remained at 3.1%, with return on equity attributable to owners of the parent at 7.4%. The level of interest-bearing debt associated with large-scale M&A and compliance with financial covenants continue to be points of investor attention. As external factors, Australia's gradual rate cuts and resilient employment conditions are supporting consumption, while the impact of NZD/AUD exchange rate fluctuations against the yen on business performance also requires ongoing monitoring.

On June 19, 2026, a calculation error was found in the diluted earnings per share figure in the FY2026 (ending March 2026) financial results report, and a correction was made. The corrected figures were ¥36.10 (previously ¥36.15) on a consolidated basis and ¥32.60 (previously ¥32.64) on a non-consolidated basis, with minor variance and no impact on actual business performance. However, the miscalculation of the increase in common shares from stock acquisition rights (current period: 28 thousand shares → 115 thousand shares) suggests issues with the management of the disclosure process, and institutional investors are encouraged to continue monitoring internal controls and disclosure quality.

Growth Strategy

Two-pillar growth through recovery of profitability in the NZ model and establishment/synergy creation of the Australia model

The relaxation of the Clean Car Standard (CCS) effective January 1, 2026 is expected to drive recovery in demand for used vehicles bound for New Zealand. Through improved utilization rates in the Inspection segment linked to the increase in export volumes by Nichibou Co., Ltd., the Group aims to restore profitability in its core business.

Full-year contribution from Autopact Holdings (Retail & Wholesale) and Autocare Services (Logistics) is set to be realized in FY2026 (ending March 2026), establishing Australia as the Group's second pillar of profitability. The Group aims to deepen synergies between its new and used vehicle dealer network and land transport infrastructure to improve profit margins.

To reduce dependence on performance in New Zealand and Australia, the Group is promoting an increase in export volumes to new markets and new customers, including Europe. In parallel, it is also working to increase inspection volumes for new markets within the Inspection segment, aiming to achieve greater geographic diversification across the Group as a whole.

The Group is expanding its consumer services domain through growth in the auto loan balance of Auto Finance Direct Limited and the online platform business of Auto Trader Media Group Limited. It aims to diversify revenue through cross-selling that leverages the dealer access network built by the Import & Export/Logistics segments.

Last updated: July 19, 2026