OREANDA-NEWS. February 24, 2012. AUTOBACS SEVEN Co., Ltd. (“AUTOBACS SEVEN,” Representative Director and CEO: Setsuo Wakuda) decided today to transfer store ownership of its subsidiary, Autobacs Izumi Ltd. (“AB Izumi”), to Total Ace Ltd.(“Total Ace”), a member corporation of the AUTOBACS franchise chain. Details are as follows:

 1. Purpose of transfer
 As described in the AUTOBACS 2010 Medium-Term Business Plan, AUTOBACS Group is aiming to increase market share and improve store profitability by strengthening its franchise chain business in Japan.
 As part of the effort, AUTOBACS SEVEN decided to consolidate store ownership in the Southern Osaka area, to simplify the operational structure and increase area competitiveness and management efficiency.

 2. Outline of transfer
 Total Ace, which is one of AUTOBACS SEVEN’s franchisee, is taking over the operation on AUTOBACS MIKKAICHI store from AB Izumi.