OREANDA-NEWS. AUTOBACS SEVEN Co., Ltd. announced plans to establish a joint venture in Indonesia with PT.CENTRAL SOLE AGENCY, a 100% subsidiary of PT INDOMOBIL SUKSES INTERNASIONAL TBK.

In line with its overseas strategy, the Company has decided to establish a joint venture company with a subsidiary of PT INDOMOBIL SUKSES INTERNASIONAL TBK which is a leading company in the Indonesian car industry. The joint venture will launch a wholesale business of car parts and accessories in Indonesia, a business that has a great potential in the Indonesian market according to its rapid growth of economy.

The Company will continue to invest its management resources and make concerted efforts to develop overseas market that contains great business opportunity.

The establishment of the joint venture is not expected to have a material impact on the Company’s either consolidated or non-consolidated business results for the current fiscal year ending March 31, 2014.

If the Company presumes any impact on its business results for the fiscal year thereafter, it will include them in its earnings forecasts for the fiscal year ending March 31, 2015.