OREANDA-NEWS. AUTOBACS SEVEN Co., Ltd., announced plans to establish of subsidiary in Malaysia.

Since the opening of its first ASEAN store in Singapore in 1995, the AUTOBACS Group has opened stores in Thailand and Malaysia. In Malaysia where the economy is growing rapidly and automobiles are becoming popular, the Group operates ENEOS AUTOBACS stores in a joint venture with the JX Nippon Oil & Energy Trading Corporation, etc., in addition to AUTOBACS stores.

The Malaysian government and the Johor state government are advancing the Iskandar Project, a local development project, and the Group will establish a company whose main business is to sell automotive goods and services and to provide automotive-related services for the purpose of opening stores in this region. The region is expected to develop as an economic zone identical to adjacent Singapore.

The Group will continue to put all of its effort as an organization into expanding its business by actively investing management resources in business operation overseas.

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, 2015.  

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, 2016.