Entry into Auto Auction Business Partnering with Glion Group
— Joint investment by ITOCHU ENEX and ENEX FLEET —
Entry into Auto Auction Business Partnering with Glion Group
— Joint investment by ITOCHU ENEX and ENEX FLEET —
ITOCHU ENEX CO., LTD. (Headquartered in Chiyoda-ku, Tokyo; Kenji Okada, Representative Director, President and CEO; hereinafter "the Company") announced today that the Company and ENEX FLEET CO., LTD. (Headquarted in Osaka-shi, Osaka; Shunji Masuda, Representative Director, President and CEO; hereinafter "ENEX FLEET"), a consolidated subsidiary of the Company, have decided to jointly enter the auto auction business by receiving the transfer of a 40% share of International Auto Auction Co., Ltd. (Headquartered in Izumiotsu-shi, Osaka; Shuji Yamaguchi, Representative Director; hereafter "IAA") from GLION Group (Headquartered in Kobe-shi, Hyogo,; Hidetake Kikuchi, Representative Director; hereinafter "GLION").
The ITOCHU ENEX Group has started to supply energy including petroleum, gas and electricity, and has also advanced into energy-related businesses such as automotive sales. ENEX FLEET, whose strengths lie in supplying fuel to fleets has also focused on truck- and other large vehicle-related businesses (purchases/sales, customization, etc.), and now it has newly entered the auto auction business to expand the Group's vehicle distribution value chain.
The auction business hosted by IAA deals in a wide range of vehicle types from small to large vehicles on a vast 30,000 tsubo site adjacent to one of the largest export ports in the Kansai area which is highly convenient for its business. Going forward, we will develop the business by expanding the vehicle types to construction machinery and other types of vehicles while enhancing the peripheral services for sellers and bidders.
Reference 1: Overview of the companies
International Auto Auction Co., Ltd.
■ Head office location: 1-2, Yunagi-cho, Izumiotsu-shi, Osaka
■ Representative:Shuji Yamaguchi
■ Establishment:June 23, 2009
■ Main businesses: Auto auction management, auction of cars and trucks, etc.
■ Name of auction site: IAA Osaka
■ Date of auction: Every Wednesday
GLION Group
■ Head office location: 11-1, Shinko-cho, Chuo-ku, Kobe-shi, Hyogo
■ Representative: Hidetake Kikuchi
■ Main businesses: Dealer of imported and domestic vehicles, and other vehicle-related businesses
■ Number of Group companies: 87
Reference 2: Reference photos
