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Glossary

・Used car auction site

An actual site where used cars are auctioned. The site is only for dealers and not open for public. The biggest used car auction operator in Japan is USS Co., Ltd.

・Dolphinet

The Company’s proprietary online used car sales system in which the detailed information of purchased cars are registered. The system allows the company to sell the cars to customers without an actual inspection.

・Provision for merchandise warranties

A provision for future losses due to repairs occurred in relation to warranties, such as the 10-year warranty offered for cars retailed. The provision is estimated and recorded beforehand as a liability on the company’s balance sheet.

・Number of cars purchased

The number of cars purchased from general consumers at the Company’s stores.

・Number of retail car sales

The number of cars sold retail to general consumers at the Company’s stores.

・Number of wholesale car sales

The number of cars sold through used car auctions, etc.

・Total number of car sales

The total numbers of car sold retail and wholesale.

・Franchise store

A store that uses the Gulliver brands through a franchise agreement with the Company. The Company receives royalties and other commissions from franchised stores.