OREANDA-NEWS. AUTOBACS SEVEN Co., Ltd. announces transfer of store ownership of its consolidated subsidiary, Autobacs Izumi Ltd. ("AB Izumi"), to Hokusetsu Autobacs Ltd. ("Hokusetsu AB"), which is also a consolidated subsidiary, and to Total Ace Ltd.("Total Ace"), a member corporation of the AUTOBACS franchise chain.

Total of eight stores (four stores each) are transferred to AB Izumi and Total Ace.

Details are as follows:
1. Purpose of transfer
As described in itsMedium-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 of AUTOBACS SAKAI-ISHIZU Store, AUTOBACS SAKAI-SANPO Store, AUTOBACS KANAOKA Store and AUTOBACS Secohan Ichiba SAKAI Store from AB Izumi.