OREANDA-NEWS. AUTOBACS SEVEN Co., Ltd. decided today to transfer store ownership of its consolidated subsidiary, AUTOBACS Aichi Ltd. to LOTUS Co., Ltd., 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, the Company decided to consolidate store ownership in the South Mie area (Mie Pref.), to simplify the operational structure and increase area competitiveness and management efficiency.

2. Outline of the transfer of store ownership
LOTUS, which is one of the Company's franchisees, is taking over the operation on AUTOBACS SHIMA UGATA Store from AUTOBACS Aichi.