PARK24 : Investors Meeting on Mobility Business （678KB）

Investors Meeting on Mobility Business

December 16, 2025

Koichi Nishikawa

President and Representative Director, CEO PARK24 CO., LTD.

Prime Market of TSE/4666 Ticker Symbol PKCOY

In 2009, we acquired a rental car company and launched our Mobility Business through car sharing and rental services Since turning profitable in 2014, Mobility Business has leveraged its synergy with Parking Business Japan's extensive parking network to deliver average annual profit growth of approximately 132% Amid the COVID-19 pandemic, starting in 2020, Mobility Business shifted its focus to car sharing

Vehicles are deployed at pick-up stations nationwide, operating under an unmanned rental model The service offers advantages over traditional rentals due to the large number of Times CAR pick-up stations and ease of use Focusing on supply-demand matching, it is crucial to increase the number of members, vehicles, and pickup stations in a balanced manner, with profit per vehicle as the key KPI

Our Vision: Make car sharing the fourth pillar of transportation infrastructure Rapid expansion through vehicle deployment to Times PARKING s ites, achieving overwhelming market share and successful profitability

FY2025: Focused on increasing the number of vehicles, which resulted in a decline in monthly revenue per vehicle. FY2026: Will prioritize improving utilization by accelerating member acquisition and ramping up vehicle usage.

Considering economic rationality and the market size of similar services, the car sharing market has s ignificant room for expansion Next milestone is 200,000 vehicles, pursuing business growth at an appropriate pace Going forward, we will aim for growth through expansion of business scale while ensuring a stable profit per vehicle

Summary

Overview of Mobility Business

Car Sharing Business Model

Our Strategies and Strengths

Current Status and Policies

Medium- to Long-term Growth Targets

1. Overview of Mobility Business

2. Car Sharing Business Model
3. Our Strategies and Strengths
4. Current Status and Policies
5. Medium- to Long-term Growth Targets

I. Overview of Mobility Business (1) Business growth (On a previous method basis *)

*Segment revenue measurement changed from FY2025.

Since achieving profitability in the car sharing business in 2014, net sales have grown at an annual

rate of 111%, and business profit at an annual rate of 132%

[Chart-1]Mobility Business net sales and business profit (billion yen)

Business Profit Net Sales

Approx.

111%/year

128.5

2009

Acquired Mazda car rental Launched Mobility Business

2014

Successfully achieved profitability solely through the car sharing

business

39.5

From 2020

Shifted strategy to reduce rental car operations and expand car sharing in the midst of the COVID-19 pandemic

Approx.

132%/year

23.0

1.0

1. Overview of Mobility Business (2) Service scale

Since launching the business, service scale has steadily expanded. Times CAR members have

increased at an annual rate of 122% s ince 2014 (when the car sharing business became profitable)

[Chart-2]Mobility Business service scale (number of vehicles: units, number of locations: stations, the number of members: thousands)

Times CAR (vehicles) Rental Sites (sites) Member (thousand people)

Approx.

122%/year

3,616

80,691

36,317

414

6,376

26,073

1. Overview of Mobility Business (3) Market environment

   Times CAR holds a s ignificant share in Japan's car sharing market in terms of both the number of

   members and the number of vehicles

   [Chart-3]Member market share [Chart-4]Vehicle market share

   Company C

   4.0%

   Company B 3.0%

   Company A

   9.3%

   Other

   1.9%

   Times CAR 81.9%

   Company C

   3.4% Other

   2.5%

   Company B

   9.0%

   Company A 12.2%

   Times CAR 72.8%

   *Competitor data compiled by Park24 using the National List of Car Sharing Services March 2025 survey by Traffic Ecology and Mobility.

   
   
   
   
   

   I. Overview of Mobility Business (4) Times CAR breakdown (FY2025 Results -On a New method basis)

   There are three types of Times CAR vehicle: dedicated directly managed Times CAR (car sharing) vehicles, rent-a-car vehicles, and franchise vehicles . Revenue also includes vehicle sales and road service (RS)

   * Allocation of operating expenses (≒ business profit) between directly managed Times CAR dedicated vehicles and rent-a-car operations is estimated based on established criteria.

   • 79.2% of Times CAR vehicles are dedicated to Times CAR (car sharing)

   • 75.4% of net sales and 64.5% of business profit in Mobility Business come from Times CAR dedicated vehicles

     [Chart-5]

     Times CAR vehicle breakdown as of October 31, 2025**

[Chart-6]

FY2025 Mobility Business sales breakdown (billion yen) **

[Chart-7]

FY2025 Mobility Business business profit breakdown (billion yen) **

			FC 7,362 vehicles (9.1%)
			[Directly operated] car rentals 9,449 vehicles (11.7%)
	Times CAR total fleet 80,691 vehicles		[Directly operated] Times CAR dedicated
			63,880
			vehicles
			(79.2%)

		Vehicle sales, FC, RS
		14.3 billion yen
		(11.1%)
		[Directly operated]
		car rentals
		17.2 billion yen
Mobility		(13.5%)
Business net sales 128.5 billion yen		[Directly operated] Times CAR dedicated 96.8 billion
		yen
		(75.4%)

			Vehicle sales, FC, RS 1.5 billion yen (10.1%)
			[Directly operated] car rentals 3.7 billion yen (25.4%)
	Mobility
	Business profit 14.8 billion yen		[Directly operated] Times CAR
			dedicated
			9.6 billion yen
			(64.5%)

* Most (directly managed) rent-a-car vehicles have an online car management system installed in them and can be used for the car sharing service. Vehicles are used flexibly for either the car sharing service or the rent-a-car service, depending on demand.

** Figures in parentheses indicate composition ratio.

1. Overview of Mobility Business

2. Car Sharing Business Model

3. Our Strategies and Strengths
4. Current Status and Policies
5. Medium- to Long-term Growth Targets

1. Car Sharing Business Model (1) Business model

   Car sharing is a business that provides unmanned vehicle rentals to Times CAR members using

   vehicles deployed nationwide

   • Vehicles are deployed to parking spaces nationwide (including Times PARKING) and rented out unattended to Times CAR members

   • Vehicles are procured by purchasing new cars or through leasing services, and sold into the used car market or returned at end of lease after 4 years (new vehicles are deployed every 4 years)

   • Users register their driver's license and credit card, etc., to become Times CAR members and reserve/use vehicles via the app or website

   • Round-trip model (users return vehicles to the location where they were rented)

     Users (Times CAR

     members)

PARK24 GROUP

Parking facility owners

Easy reservation via web or app

Take the key from inside the vehicle and start driving!

Users unlock the door by tapping the Times CAR member card on the car or using the app

Easy to use

Times CAR is easy to use in three simple steps, even for users who are new to car sharing.

It can be used for anything from local shopping trips to

extended travel use!

Reserve and use Parking spaces

• Vehicle deployment

• Maintenance

• Membership registration

• Monthly membership fee and usage fee payment (online automatic payment)

• Parking site rent payment

II. Car Sharing Business Model (2) Difference from car rental

Compared to car rental, car sharing offers superior convenience for users and profitability for

business operators

Benefits		Car Sharing	Car Rental
For users	Membership registration	△ Required (completed in as little as 15 minutes online)	〇 Not required
	Procedures at time of use	〇 Simple	× License registration, vehicle damage inspection, etc., are required
	Available locations	〇 Deployed at parking spaces nationwide	△ Only at major stations, airports, and other store locations
	Time constraints for pickup/return	〇 Available 24 hours a day	△ Only available during store business hours
	Useable time	〇 15 minutes to long term	△ 6 hours, 12 hours to long term
	Inbound use	× Not possible	〇 Possible
For business operators	Profitability	〇 Low cost due to unmanned rental	× Includes costs for stores and staff, etc.