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 December 1, 2006
Isuzu establishes a new company to enhance its lifecycle business
Isuzu Motors Limited (Isuzu) will establish Isuzu Network Company Limited (new company) to improve customer services, build a long-term profit foundation for domestic sales, and reinforce life cycle business. The new company will be a JV company established by and between Isuzu and ITOCHU Corporation (ITOCHU).
The Isuzu Group has been working on life cycle business as a means to positively respond to all the needs of customers that arise from the entire process of using vehicles, namely from purchase to replacement/disposal of vehicles. The new company will integrate life cycle business now independently conducted by Isuzu dealerships and domestic affiliated companies, and support the efforts of dealerships to increase their management efficiency. Specifically, the new company will formulate strategies of the life cycle business, and establish and provide marketing- and system-related foothold for the dealerships. Further, it will provide management support for the dealerships in the area of real estate control, centered purchasing, indirect work streamlining, etc. so that these dealerships may focus their attention on the core business such as sales and after-sale service, with an eye to establishing and strengthening the life cycle business early. The new company will be organized based on Isuzu Real Estate Co., Ltd., which is engaged in real estate business for the Isuzu Group, thereby exercising intensive control of the real estate owned by the dealerships. For this purpose, the Isuzu Real Estate Co. Ltd. will increase its capital and change its name into the new company Isuzu Network Company Limited. What's more, in the capital increase, ITOCHU Corporation will also take more capital participation in the new company, which will be eventually held 75% by Isuzu and 25% by ITOCHU Corporation. Further, the new company will buy out the shares of 15 domestic consolidated dealerships and 3 affiliated companies (Isuzu UMAX Corporation, ICL Co. Ltd., and Isuzu Body Co., Ltd.) Incidentally, the existing preparatory company will be liquidated.
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