Premium Group Co., Ltd. (Roppongi, Minato-ku; President and Representative Director: Yohichi Shibata), which promotes total support for automobile dealers, announced today that it has commenced the development of a platform for the Global Car Warranty System.

（1）Background of this corporate initiative

・What is a Car Warranty?

It is a service that allows customers to get free repairs under the warranty coverage, even when a used car breaks down after purchase, by adding the service at the time of purchasing the car. Manufacturers provide warranty services for their new cars, but used cars are not applied such services. The demand for such services is increasing year by year.

 

・Serving ASEAN, where automobile markets are growing remarkably

The demand for Car Warranties is also growing in ASEAN in recent years, where there has been remarkable growth in automobile markets. Our Group established a base in Thailand in 2016 to begin the preparation of business development, and set up a joint company in Indonesia in 2017 with SUMITOMO CORPORATION and Sinar Mas Group, a local major conglomerate, having started a warranty business there.

 

・Accelerating the speed of warranty business development

Our Group has now started this corporate initiative for constructing a global common platform in order to reduce costs and increase the speed of the expected broad overseas expansion of the warranty business. After the platform is constructed, it will achieve a more secure and efficient collection of information pertaining to business development and car repair records in each country, to contribute to the product design of Car Warranties.

 

（2）Feature of this corporate initiative, Offshore Development

Our Group conducts offshore development in the Socialist Republic of Vietnam (hereinafter “Vietnam”). Vietnam, which is promoting IT human resource development as a national policy, has a plentiful supply of young competent engineers, enabling high productivity in development.

[Points of Platform Development]

[Overview of Platform]

[About Premium Group]

Premium Group is a group of companies that promote total support for vehicle owners.

Our Group provides advanced solutions for individual customers and car dealer customers across various processes concerning “cars,” including stock, purchase, use, and maintenance.

The Group was listed on the First Section of the Tokyo Stock Exchange in December 2018, and is currently conducting business overseas centered on ASEAN countries, with 12 group companies including domestic and overseas companies.

 

<Company overview>

Company name: Premium Group Co., Ltd. (holding company)

Listing market: Tokyo Stock Exchange, First Section (stock code: 7199)

Representative: President and Representative Director Yohichi Shibata

Location: Roppongi First Building17F, 1-9-9 Roppongi, Minato-ku, Tokyo

Established: May 2015 (the predecessor company was established in July 2007)

Capital: 837,850,000 yen (including capital surplus)

Business description: Automobile credit financing, car warranty, maintenance and bodywork, auto lease, manufacturing and sales of IoT devices, auto concierge services, and more

URL: https://www.premium-group.co.jp/en/