Mazda will establish wholly-owned new dealerships in Aichi and Gifu Prefectures. The new companies will take over businesses and related assets of existing dealerships in each prefecture. (Start of sales in new company is targeted on July 1 2000.)
The aim is to restructure and integrate the existing dealerships in Aichi and Gifu and to strengthen Mazda's sales in both areas through effective use of management resources, unification of sales strategies and improvement of customer satisfaction. Existing dealerships, Aichi Mazda, Mazda Enfini Nagoya, Gifu Mazda and Mazda Enfini Gifu, will be dissolved at the same time as business transfer. We will appropriate bad debt reserves of 269 oku yen that were booked by the fiscal year ending March 31, 2000 for liquidation costs.
The dealerships to be newly established are "Tokai Mazda Sales Co., Ltd." in Aichi and "New-Gifu Mazda Sales Co., Ltd." in Gifu. They will take over businesses from Aichi Mazda Co.,Ltd. and Mazda Enfini Nagoya Co.,Ltd., Gifu Mazda Co.,Ltd. and Mazda Enfini Gifu Co.,Ltd. respectively.
Since the spring 1998, we have implemented the "One-operation program" to improve management efficiency by integrating indirect operation of the dealerships in both prefectures. With our current actions, we intend to further increase management efficiency and also to strengthen their financial foundations, sales and service.
Aichi Prefecture Gifu Prefecture
*Name Tokai Mazda Sales Co., Ltd. New-Gifu Mazda Sales Co., Ltd.
*Capital 20 oku yen 4.9 oku yen
*Location of head office Nagoya City, Aichi Prefecture Hashima-gun, Gifu Prefecture
*Outlets 49 shops 18 shops
*Employees 895 persons 315 persons
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