Mobility & Logistics

*Affiliations and titles as of August 2024

Vision for 2030

• A company that solves decarbonization and other social issues through social application of various technological innovations in the general vehicles area
• A solution provider that works to solve issues such as personnel shortages and workstyle reforms together with Group companies and partner companies in Japan and overseas in the logistics area

Plans under Fuyo Shared Value 2026

• 1.
  Aim to increase the percentage of EVs or FCVs held by Fuyo Auto Lease to 30% through the provision of one-stop EV services and other means
• 2.
  Promote total support for the logistics industry, which faces issues such as the 2024 problem, personnel shortages, and cost increases, in collaboration with partner companies

In FY2023, ordinary profit grew to ¥6.3 billion on growth in gains on sales of used cars backed by a strong used car market overseas, as well as the conversion of an overseas Group company to a consolidated subsidiary. In the Mobility & Logistics domain, we are working to tie our existing business fields to new functions and expand our areas of business by building alliances with partner companies.
In the general vehicles area, we worked to create more sophisticated one-stop services by building and strengthening a variety of EV-related alliances. In the logistics area, we renamed the Mobility domain the Mobility & Logistics domain to strengthen our emphasis on solving social issues associated with logistics. We also entered into a capital and business alliance with PAL Co., Ltd. which is working in DX on the logistics front lines.
Among non-financial items, the percentage of EVs and FCVs held remained nearly flat, as the rate of adoption of EVs in Japan continues to be moderate.

We have launched the Kyuden EV Bus Service, a subscription-based service, through a collaboration with the Kyushu Electric Power Group and EV Motors Japan Co., Ltd. The EV buses being introduced can be used (through sharing) for multiple purposes, including as school buses, shuttle buses, and sightseeing buses. The vehicles' rechargeable battery functions can be used to set up local disaster preparedness centers and reduce electricity consumption at facilities during peak hours. This in turn will advance local decarbonization efforts and promote the shift to EVs among municipalities and private companies. The first commercial project has now started on Okinoerabu Island, Kagoshima Prefecture.

Because the spread of EVs in the logistics industry is limited to low-priced EV vehicle models suited to use in long-distance transport, and because of a shortage of charging infrastructure, there is a lack of specialized knowledge of maintenance and other issues. To solve these issues, we are accelerating our collaboration with partner companies to expand our lineup of services designed to encourage the adoption of EVs for commercial use. We have entered into a capital and business alliance with Folofly Inc., which is engaged in the development and sales of EVs for commercial use, and are working to develop vehicles and services that meet the needs of the logistics industry. In addition, through a collaboration with EVolity Corporation, which offers fleet management services for commercial use EVs, we are building a cooperative structure that can provide one-stop support for everything from initial deployment to vehicle management.

To strengthen our efforts to solve issues surrounding the logistics industry, including the 2024 problem and personnel shortages, we have renamed the Machinery Business Division to the Logistics Solution Business Division, reorganizing it with a specialized role in logistics.
We also entered into a capital and business alliance with PAL Co., Ltd. which is working to promote DX on the front lines of logistics, and are advancing cooperation with partner companies to expand and build a structure for services by, among other things, creating diverse financing schemes to support the capital investments needed for automation and labor savings.