Financial Highlights
In the consolidated fiscal year ended March 31, 2024, there was a temporary downturn in the domestic automobile distribution market due to issues such as the fraudulent certification testing by domestic new automobile manufacturers. However, due to factors such as the gradual easing of restrictions on the supply of new automobiles stemming from a shortage of semiconductors, the number of new car registrations (including light automobiles) was 4,528 thousand vehicles (up 3.3% from the previous fiscal year).
The number of used car registrations (including light automobiles) was 6,451 thousand vehicles, up 2.5% year on year,*1 due to a higher supply of used vehicles from trade-ins caused by a recovery in new vehicle purchases. *1. Survey by the Japan Automobile Dealers Association and Japan Light Motor Vehicle and Motorcycle Association
The used car export market increased to 1,603 thousand vehicles (up 24.3% from the previous fiscal year), mainly due to an increase in the number of cars destined for United Arab Emirates, Mongolia and New Zealand (based on survey of the Trade Statistics of Japan, Ministry of Finance).
The auto auction market had 7,771 thousand vehicles up for auction (up 6.8% from the previous fiscal year) and completed sales for 5,232 thousand vehicles (up 8.5% from the previous fiscal year), which equates to a completion rate of 67.3% (against the 66.3% completion rate in the previous fiscal year). (based on survey by USEDCAR Co., Ltd.)
In this economic environment, the operating results for the USS Group in the consolidated fiscal year ended March 31, 2024, saw ¥97.606 billion in net sales (up 9.9% from the previous fiscal year), ¥48.937 billion in operating profit (up 11.8% from the previous fiscal year), ¥49.654 billion in ordinary profit (up 11.6% from the previous fiscal year), and ¥32.906 billion in profit attributable to owners of the parent (up 9.7% from the previous fiscal year).