PARK24 : IR Book （9,730KB）

IR Book 2024-2 Table of Contents

About the PARK24 GROUP

• Profile / Group Companies List

• Group Philosophy / Group Slogan / Brand Concepts
  3 Trends in Performance / External Environments
  4 Group History

• Medium-tolong-term Initiatives to Create Sustainable Corporate Values (1)

• Medium-tolong-term Initiatives to Create Sustainable Corporate Values (2)

• Business Segments and Service Outline
  8 Service Scale

	Parking Business Japan
9	Times PARKING	Business Model / Revenue Model
10	Times PARKING	Development Strategies
11	Times PARKING	STANDARD / PARTNER SERVICE
13	Lock Plate Parking / Gate PARKING / Camera Parking Facility
15	Facility Management Services / Monthly Parking Services
16	Times PARKING	B
17	Times PARKING	User Questionnaire Results

	Mobility Business
18	Times CAR	Business Model / Revenue Model / Business Strategies
19	Times CAR	Operation / Fee Structure
21	How to Use a Times CAR vehicle
22	Times CAR	Member Attributes / Reasons for joining Times CAR

1. Times CAR RENTAL ・Times ROAD SERVICE
   Parking Business International
2. UK
3. AU・NZ／SG／MY／TW
4. Development Strategies / Localized Times PARKING

Other Services to Create Sustainable Corporate Value

1. Times PAY
2. Times CLUB
3. Times BUSINESS SERVICE

Strengths of the PARK24 GROUP

1. Collective Capabilities of the PARK24 GROUP
2. Application of ICT Technology

＊The information stated in this material are as of the end of April 2024, unless noted.

Copyright© PARK24 CO., LTD.

About the PARK24 GROUP Profile / Group Companies List

	Corporate Name	PARK24 CO., LTD.
	Code	4666
	Foundation	August 26, 1971
	Establishment	February 3, 1973
		PARK24 GROUP Head Office,
	Location of Head	2-20-4 Nishigotanda, Shinagawa, Tokyo,
	Office	Japan
		Post Code: 141-8924
	Representative	President Koichi Nishikawa
	Capital Stock	32.7 billion yen
		Parking Business Japan
		Parking Management Service, Facility
	Major	Management Service, Others
	Mobility Business
	Businesses	Times CAR service, Road service operation
		Parking Business International
		Parking Management Service, Facility
		Management Service, Others
	Number of	675 (Consolidated 5,444）
	Employees
	Net Sales	330.1 billion yen (FY2023)
	(Consolidated)
	Audit	Ernst & Young ShinNihon LLC
	Corporation

Company Name	Capital Stock	Business Content	Share
Holding
			(%)
TIMES24 CO., LTD.	100 million yen	Parking management	100
TIMES MOBILITY CO., LTD	100 million yen	Times CAR management	100
TIMES SERVICE CO., LTD.	50 million yen	Parking facility and vehicle	100
management
TIMES COMMUNICATION CO., LTD.	67 million yen	Contact center and road service	100
PARK24 BUSINESS SUPPORT CO., LTD	10 million yen	Group business support	100
TIMES SUPPORT CO., LTD.	3 million yen	Insurance agency	100
TIMES INNOVATION CAPITAL LLC	100 million yen	Investment in venture business	100
PARK24 TAIWAN CO., LTD.	500 million New Taiwan dollars	Parking management (TW)	100
TIMES24 SINGAPORE PTE. LTD. ＊1	6.5 million Singapore dollars	Parking management (SG)	100
TIMES24 MALAYSIA SDN. BHD. ＊2	3 million Malaysian Ringgit	Parking management (MY)	100
SECURE PARKING PTY LTD＊3	4 Australian dollars	Parking management (AU / NZ)	100
NATIONAL CAR PARKS LIMITED＊4	31 million pounds ＊5	Parking management (UK)	51

＊1 PARK24 CO., LTD. holds all shares in PARK24 SINGAPORE PTE. LTD., which holds 100% shares in TIMES24 SINGAPORE PTE. LTD.

＊2 PARK24 CO., LTD. holds all shares in PARK24 MALAYSIA SDN. BHD., which holds 100% shares in TIMES24 MALAYSIA SDN. BHD.

＊3 PARK24 CO., LTD. holds all shares in PARK24 AUSTRALIA PTY LTD, which holds 100% shares in SECURE PARKING PTY LTD.

＊4 PARK24 CO., LTD. holds all shares in PARK24 INTERNATIONAL LIMITED, which holds 51% shares in MEIF II CP HOLDINGS 2 LIMITED, which wholly owns NATIONAL CAR PARKS LIMITED.

＊5 Capital stock of MEIF II CP HOLDINGS 2 LIMITED, which wholly owns NATIONAL CAR PARKS LIMITED.

▲PARK24 GROUP Head Office

Copyright© PARK24 CO., LTD.

IR Book- 1

About the PARK24 GROUP

Group Philosophy / Group Slogan / Brand Concepts

Group Philosophy

We create new forms of comfort and convenience by responding to the needs of today and anticipating the needs of tomorrow.

PARK24 GROUP provides comfort and convenience in forms both familiar and entirely new. We help to make urban environments and the lives of people living and working in them more rich and pleasant. We listen carefully to our customers to create services that meet the needs of the times and enhance sustainability. This thinking underpins all our interactions with all our stakeholders.

Group Slogan

We make life better

Focused on the future, PARK24 continuously provides new forms of comfort and convenience.

We create new paradigms that turn conventional wisdom upside down. We respond to today's needs and identify the needs of tomorrow.

We are committed to making people's lives better. That is our promise.

Brand Concept of Times

Mobility Link

The unbeatable convenience of having access to precisely the kind of transport you want-car, motorbike, bicycle-exactly when you want it.

A system that offers rapid support for breakdowns and other problems when you are on the move.

Services that link directly to public transport networks.

By empowering people to make smart transport choices, TIMES brings a whole new level of comfort and convenience to the environment surrounding mobility.

By offering services that energize local communities, TIMES transforms places into attractive destinations and builds bonds between people and places.

TIMES contributes to general prosperity by addressing the full spectrum of mobility needs.

TIMES' service outlets and parking lots are an essential part of our modern lifestyle. Together, they form a life-enrichingMobility Link that brings people closer together.

CI / BI

• PARK24 GROUP is a corporation that improves the environment, society and people's lives.
• Times is a brand that in addition to parking, provides services to the surrounding areas such as cars and destinations within the community.

PARK24 GROUP	Society・Life
Define the meaning of
existence and action
guidelines	Destination
Times
A range that includes	Mobility(Car)
related surrounding

businesses including communities as the

destinations of theParking drivers

Times CAR

All mobility vehicles

Times PARKING

All parking

Logo

Corporate Logo

Brand Logo

Communication Logo

Copyright© PARK24 CO., LTD.

IR Book- 2

About the PARK24 GROUP

Trends in Performance / External Environments

Changes in Recurring Profit ・External Environments

2023

(Billion yen) Recurring Profit

Net Sales

1991	2009
・MAZDA CAR RENTAL CORPORATION to
Opened Japan's first unattended	be made subsidiary through stock acquisition
parking facility	・Car sharing service starts

				2019
					The Company relocates its head office to
					Gotanda in Shinagawa-ku, Tokyo
				2018
				The number of car sharing members
				exceeds 1 million members
		2017
												3,174
			The Company acquires shares of
			SECURE PARKING、NATIONAL			2,985
			CAR PARKS
				2016
2011	2014	Number of Times
Number of Times	PARKING sites
		2,329
PARKING sites		The number of	exceeds 15,000
exceeds 10,000		car sharing
	vehicles exceeds
				1,943
			10 thousand
			vehicles				1,796
		1,556	1,670

The number of car sharing service members exceeds 500 thousand members

2022
The number of car	3,570
sharing members
exceeds 2 million	3,301
members

2,902

2,689

2,511

187

13

1 13

		2007
		The Company relocates its head office to
1997		Yurakucho in Chiyoda-ku, Tokyo
The Company's stock is							808
registered for OTC trading				652	754
with the Japan Securities			553
Dealers Association	366	425	489	117	118
291	318
		86	82
		73
			56
		44
33	38

	1,395
1,132	1,240
953				211		225	215
		195		202
	173	175	185
118	127
98

310

276

169

'91

External Environments

'97

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△151

△116

Plan

July 21, 2016

2006

2014

The stock prices of

2019

2020-2022

PARK24 CO., LTD

Road Traffic Law revised

Consumption

Consumption

records 3,655 yen, the

Global outbreak of

tax hike

tax hike

best price since being

COVID-19 infection

(5%→8%）

(8%→10%）

listed

Copyright© PARK24 CO., LTD.

IR Book- 3

Group History

	1971.	3	-	The beginning of preparation for the establishment of Nishikawa Shokai Co., Ltd.
		5	-	Nishikawa Shokai starts the manufacturing and sale of "No Parking" signs

• - Nishikawa Shokai Co., Ltd., the predecessor of PARK24, is established at Nishi-gotanda

11 - Nishikawa Shokai begins the sale of Park Locks

1973.	8	-	PARK24 CO., LTD. is established
1988.	10	-	The Company begins the trial management of parking sites .
			Coin parking sites, predecessors of TIMES sites, open
1991.	12	-	Standard Times business starts-the first TIMES hourly parking facility opens
1997.	3	-	The Company's stock is registered for OTC trading with the Japan Securities Dealers Association

• - Times Owners' Club, a service for owners, begins

12 - Partner service starts the first facility opens

1998.	4	-	The first battery chargers for recharging electric vehicles are placed in a parking facility
	8	-	The Company designated August 9 as "Park Day"
1999.	4	-	The Company's stock is listed on the Second Section of the Tokyo Stock Exchange
2000.	1	-	DRIVERS NET CO., LTD. (present TIMES COMMUNICATION CO., LTD.), a consolidated subsidiary,
			is established

• - The Company's stock is listed on the First Section of the Tokyo Stock Exchange

12 - The distribution of information on the location and availability of TIMES (via the website and mobile phones) starts

2003.	4	-	The TONIC system is introduced in earnest
		-	The Times CLUB point incentive program for individual users is introduced
2004.	1	-	Koichi Nishikawa is appointed new president
2005.	5	-	The Times BUSINESS CARD is launched

10 - TONIC is introduced to all sites

2006. 2 - GS Park24 Co., Ltd. is established（〜2021.9）

• - Taipei Branch opens in Taiwan
  - Euro-yen convertible bonds due 2026 are issued

2007.	10	-	Head office relocates to Yurakucho, Chiyoda-ku, Tokyo
2008.	1	-	Battery chargers for recharging household plug-in electric vehicles are installed
2009.	3	-	MAZDA CAR RENTAL CORPORATION to be made subsidiary through stock acquisition
		-	Car sharing service starts

Copyright© PARK24 CO., LTD.

2011. 3 - PARK24 CO., LTD. holds all shares in TPF 3 Limited, which holds all shares in RESCUE NETWORK CO., LTD

• - The Company transfers its Parking Business to TIMES24 in a demerger and becomes a pure holding company

• - The name MAZDA CAR RENTAL CORPORATION changes to TIMES MOBILITY NETWORKS CO.,LTD

2012.	10	- The name RESCUE NETWORK CO., LTD. changes to TIMES RESCUE CO., LTD
2013.	4	-	Issuance of Zero Coupon Convertible Bonds due 2018
2014.	2	-	Establishment of Sponsored Level I ADR Program in US
2015.	7	-	Times Innovation Capital Co., Ltd.. (currently TIMES INNOVATION CAPITAL LLC) is established
2016.	8	-	"B-Times"(currently "Times B"), the service of booking parking, is launched
2017.	1	- The Company aquires shares of SECURE PARKING PTY.LTD and other two companies, which

operate parking business mainly in Oceania/Asia regions, through the three companies established in Dec. 2016.

• - The Company acquires shares of NATIONAL CAR PARKS, etc which operate parking business mainly in UK, through PARK24 UK LIMITED(currently PARK24 INTERNATIONAL LIMITED) established in Jul. 2017.

2018. 1 - The Company merges with TPF1 Limited.

• TIMES COMMUNICATION CO., LTD. integrates TIMES RESCUE CO., LTD. and TPF3 Limited which holds all shares of TIMES RESCUE CO., LTD.
• The Company establishes PARK24 BUSINESS SUPPORT CO., LTD. and transfers a part of the business of TIMES COMMUNICATION Co., Ltd.

10 - Issuance of Euroyen-denominated convertible bond-type bonds with subscription rights to shares maturing in 2025(350billion)

2019. 5 - Head office relocates to Nishigotanda, Shinagawa-ku, Tokyo, the area in which the Company was founded

- The corporate identity and brand identity are renewed.

11 - The Company established TIMES MOBILITY CO., LTD., aiming to promote the new mobility service, Times CAR.

• TIMES MOBILITY NETWORKS CO., LTD. changed its name to TIMES MOBILITY CO., LTD

2020.	12	-	Conclusion of subordinated syndicated loan agreement
2021.	8	-	Transferred all shares of GS PARK24 CO., LTD.
2022.	4	-	Issued new shares through overseas offering(16,000,000 shares)

10 - SECURE PARKING SINGAPORE PTE. LTD changed its name to TIMES24 SINGAPORE PTE. LTD.

• SECURE PARKING CORPORATION SDN. BHD changed its name to TIMES24 MALAYSIA SDN. BHD.

2023. 2 - Issuance of Zero Coupon Convertible Bonds due 2028(350billion)

• Repurchase and Cancellation of Zero Coupon Convertible Bonds due 2025 (Outstanding after the Repurchase:7,310 million)

2024 2 The name PARK24 UK LIMITED changes to PARK24 INTERNATIONAL LIMITED

IR Book- 4

About the PARK24 GROUP

Medium-tolong-term Initiatives to Create Sustainable Corporate Values (1)

PARK24 GROUP's Medium Term Business Growth Policy:

Promote the expansion of the four networks and link them seamlessly

Network Expansion

• Expanding scales of each of the four networks(People, Parking, Communities, Cars)
• Medium-termgoals include 1 million domestic parking spaces, 100,000 Times CAR vehicles, and 10 million Times CLUB members

Promoting Seamlessness

• Improve profitability by organically linking business assets through digital investments
• Also promote renewal of business system infrastructures

Times CLUB Members

10 million

※achieved in FY2023

People

CarsParking

Times CAR	Domestic parking
100 thousand Communities
spaces
	1 million

Promotion of

Times PAY

• Promote reciprocal use of Times CAR and Times PARKING
• Facilitate collaboration between core services and other services

Strengthening

Service

Coordination

Improving

Service

Convenience

• Centralization of service applications
• Diversification of payment methods (apps, cashless, etc.)

• Switching services by time of day or weekday/holiday = flexible service

Maximize Space

Revenue

Creating New

Values

• Utilizing data from parking, Times CAR, and other services
• Improvement of existing services and creation of new services

Copyright© PARK24 CO., LTD.

IR Book- 5

About the PARK24 GROUP

Medium-tolong-term Initiatives to Create Sustainable Corporate Values (2)

Digital Strategy towards the Realization of Seamlessness:

Promote in 3 axis: ① User Strategy ②Update Service Provision ③Rebuild Management Infrastructure

PARK24 GROUPʼs Digital Strategy

• Strengthen collaborations and usability of services
• Facilitate centralization of service

applications

Integrate functions into the Times CLUB application.

• Smooth and shared use of parking spaces and Times CAR vehicles
• Diversification of payment methods including the promotion of cashless payment for parking facilities in Japan
• Facilitation of the usage of e-tickets for

parking

E-tickets that can be used for the payment of parking fees

• Improvement of the Times CAR UX

Utilization of new functions such as "immediate registration" and app-based unlocking

(i) User Strategy	(ii) Reform of
the service
	provision
	system

1. Reinforcement of the management foundation

(Management accounting,

administrative operations and

systems)

• Maximization of revenue per space and creation of new value
• Flexible usage of parking spaces

Changeover between demand-basedpay-by-the-hour parking facilities and the Times CAR station service.

Utilize two vehicles parked in a	Deliver five vehicles from
pay-by-the-hour parking facility	relevant sales offices to utilize
for the Times CAR station	them for the Times CAR station
service.						service.
		Weekdays					Holidays
	3	2	1					3	2	1
	8	7	6	5	4			8	7	6	5	4

• Development of next-generation Times PARKING facilities
• Development of new services utilizing

existing service data

• Base for digital strategies: Rebuilding of the foundations of management, including core systems
• Groupwide utilization of data accumulated in individual businesses
  Utilization for the growth of effective services by combining data on parking facilities, Times CAR, members, etc.
• Renewal of business processes and systems

Copyright© PARK24 CO., LTD.

IR Book- 6

About the PARK24 GROUP

Business Segments and Service Outline

Business	Parking Business Japan
segment

Mobility Business

Parking Business

International

Service details

Service name

Logo

Service images

Parking services in Japan

Times PARKING

Times B

	Car sharing service	Car rental service	Road service
	Times CAR	Times CAR RENTAL	Times ROAD SERVICE

International parking services

NATIONAL CAR PARKS

SECURE PARKING

Times PARKING

Major affiliated

companies

•TIMES24 (Business entity)

•TIMES SERVICE

•TIMES COMMUNICATION

• PARK24

•TIMES MOBILITY

(Business entity)

•TIMES SERVICE

•TIMES COMMUNICATION •TIMES24

•PARK24

•TIMES MOBILITY

(Business entity)

•TIMES COMMUNICATION •PARK24

•TIMES COMMUNICATION

(Business entity)

•NATIONAL CAR PARKS •SECURE PARKING •TIMES SINGAPORE •TIMES MALAYSIA •PARK24 TAIWAN

(Business entity in each country)

Copyright© PARK24 CO., LTD.

IR Book- 7

About the PARK24 GROUP

Domestic Service Scale and Distribution

Domestic Service Scale

Nationwide

Times PARKING	17,999 sites	604.236 spaces
Times CAR	18,091 sites＊1	64,363 vehicles＊２

Domestic Service Distribution

Times PARKING

	Kyusyu/	Hokkaido
Chugoku/	4.3% Tohoku
Okinawa	3.8%
Shikoku	6.3%
3.1%

							Kansai
						5,200 sites		192,085 spaces
						4,647 sites		12,297 vehicles
			Chugoku・Shikoku
		526 sites			19,020 spaces
		718 sites			5,273 vehicles
Kyushu・Okinawa
1,011 sites		38,001 spaces
1,234 sites		9,350 vehicles

Chubu・Hokuriku

983 sites	40,048 spaces
1,202 sites	5,374 vehicles

＊1 The total number of Times CAR RENTAL stores and Car sharing stations

＊2 The total number of vehicles for Car Sharing and Times CAR RENTAL

							Hokkaido
			538	sites		25,700	spaces
			472	sites		3,433	vehicles
					Tohoku
		394 sites			22,854 spaces
		441 sites			2,917 vehicles
			Kanto
9,347	sites		266,528 spaces
9,377	sites		25,719 vehicles

Kansai
31.8%	Kanto
	44.1%
Chubu/
Hokuriku
6.6%

Times CAR

Kyusyu/	Hokkaido
Okinawa	5.3%	Tohoku
14.5%		4.5%

Chugoku/

Shikoku

8.2%

Kansai	Kanto
19.1%	40.2%

Chubu/

Hokuriku

8.1%

Copyright© PARK24 CO., LTD.

IR Book- 8

Parking Business Japan

Times PARKING Business Model / Revenue Model

Business Model

• Twenty-four-hour,unmanned operation (completely mechanized) and hourly parking facility
• Leasing land for parking sites
• The lease contract expires after two years. Thereafter, it is automatically renewed every year
• A fixed amount of rent is paid monthly to land and facility owners
• PARK24 GROUP shoulders investment in the construction of parking facilities basically.
  *The investment covers the purchase of signs, electric work, and installation of equipment and signs, among others
• The amount of investment is small and can be recovered promptly
• Parking fees paid by customers are included in the sales of PARK24 GROUP

Owners of	Properties	Parking fee (sales)
		Customer
land or
facilities

Capital investment		Fee collection
Fixed rent (cost)
		PARK24		Parking service
Land lease contract
	GROUP

Structure of Revenue

• High marginal profit rate due to fixed costs
• Costs include rent, administrative and maintenance expenses, lease fee for parking equipment and utility expenses among others

Small Sales Large

Parking Facility Startup Model

• Reaches break-even point after approx. 3 months.
• Reaches projected revenue in approx. 6 months.
• Initial cost will be paid in approx. 14 months.
＋	Break-even

Gross Profit Accumulation

• Assumption: Revenue from existing parking sites remain unchanged.
• The effect of parking sites developed in this period on gross profit is zero.
• Parking sites developed in the previous period contribute to growth in profit in this period.

Breakdown of cost

Expenses for

Utilities and others

Lease fees

Management and Maintenance costs

Revenue

Revenue

point

Facilities developed in the previous period

Existing facilities

Facilities developed in this period

Cost

Cost

Land Rentals

Copyright© PARK24 CO., LTD.

0 1 2 3 4 5 6 7 8 9 10 11 12 13 14

(Months from launch)

－
N-1 period	N period	N+1 period
					IR Book- 9