Willplus

What Willplus does

Willplus Holdings Corporation (株式会社ウイルプラスホールディングス, ticker 3538) is a publicly-listed Japanese holding company that consolidates a multi-brand imported-car dealership group. Founded in October 2007 and headquartered in Minato-ku, Tokyo, the company operates through six core subsidiaries covering Alfa Romeo, Fiat, Abarth, Jeep, Peugeot, Citroen, DS, BYD and Hyundai (via Willplus Checker Motors), BMW and MINI (via Willplus Motoren and Willplus Motoren Tokyo), Volvo (via Willplus Teio Orion and OGUNI), Porsche (via Willplus Eins and Willplus OGUNI), and Jaguar/Land Rover (via Willplus Enhance). It also holds a 51% stake in ENG Co., Ltd., which handles used-vehicle domestic purchase and overseas export, primarily to Malaysia.

The group's revenue model is a blend of one-time new vehicle sales commissions, recurring maintenance and repair services, recurring insurance agency commissions (through partnerships with Mitsui Sumitomo Marine, Sompo Japan, Tokio Marine & Nichido, and SBI Insurance), and transaction-based used-vehicle export. The company employs a 'home doctor' relationship-based sales philosophy without individual sales quotas, supported by 50+ showroom locations across Kanto, Kanto, Kyushu, Tohoku, Chubu, Kansai, and Shikoku/Chugoku regions. The customer base is exclusively individual Japanese consumers purchasing imported vehicles, with shareholder benefits (minimum 5% discount, up to 10%+) reinforcing retail stickiness.

Willplus has grown predominantly through a continuous M&A roll-up strategy, acquiring single-brand dealerships and integrating them under a common operational umbrella. The company IPO'd on TSE JASDAQ in 2016, moved through Second Section (2017), First Section (2018), Prime Market (2022), and migrated to TSE Standard Market in October 2023. The group has 759 regular employees (779 total including temporary staff) as of June 30, 2025, and is governed by a board including multiple independent outside directors per TSE Standard Market requirements. Medium-term financial targets include ROE of 15%+ and a 30% dividend payout ratio by FY2026.

Name

Willplus

Legal name

株式会社ウイルプラスホールディングス

Website

https://willplus.co.jp

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Willplus Holdings Corporation is a Tokyo-listed (TSE 3538) holding company operating 50+ showrooms across Japan as an authorized dealer for 17 import car brands, including BMW, MINI, Volvo, Porsche, Jaguar/Land Rover, Stellantis brands, BYD and Hyundai, serving individual Japanese consumers with new vehicle sales, maintenance, insurance agency, and used vehicle export services.

Ownership category

akta.pro rank

Headquarters

HQ city

Shiba

HQ country

Japan

HQ region

Asia

Offices39 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. New Vehicle Sales: Sale of new imported vehicles through authorized dealer network. The company holds sales rights for multiple import brands and sells vehicles through owned retail showrooms across Japan.
2. Vehicle Maintenance and Repair Services: Stock-type business providing ongoing vehicle maintenance, repairs, parts replacement, and recall services. This is identified as a growth area, with revenue increasing steadily since FY2018 despite semiconductor shortages and supply constraints from the Ukraine situation and pandemic.
3. Insurance Agency Commissions: As a licensed insurance agency, the company earns commissions on property/casualty insurance products sold to vehicle customers. The company has high insurance attachment rates and receives regular training to maintain high insurance sales quality.
4. Used Vehicle Export (via ENG subsidiary): Through subsidiary company ENG (acquired May 2024), the company conducts used vehicle purchasing, domestic sales, and overseas export operations, primarily to Malaysia.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Willplus Holdings Corporation is a publicly-listed holding company that operates a network of authorized imported-car dealerships across Japan, selling new and used imported vehicles from 17 brands (Alfa Romeo, Fiat, Abarth, Jeep, Peugeot, Citroen, DS, BYD, Hyundai, BMW, MINI, Volvo, Porsche, Jaguar, Land Rover). The group also provides vehicle maintenance, repair, parts, recall response services, and acts as an insurance agency through partnerships with major Japanese insurers, plus used-vehicle export operations through subsidiary ENG.

Product overview

Willplus Holdings Corporation is a holding company for a group of imported-car dealership subsidiaries. The portfolio comprises six operational subsidiaries: ウイルプラスチェッカーモータース株式会社 (selling Alfa Romeo, FIAT, ABARTH, Jeep, Peugeot, Citroen, DS, BYD, Hyundai brands), ウイルプラスモトーレン株式会社 and ウイルプラスモトーレン東京株式会社 (BMW and MINI brands), ウイルプラス帝欧オリオン株式会社 and OGUNI株式会社 (Volvo brands), ウイルプラスアインス株式会社 and ウイルプラスOGUNI株式会社 (Porsche brands), and ウイルプラスエンハンス株式会社 (Jaguar and Land Rover brands). Additionally, 株式会社ENG (51%-owned subsidiary) handles used-car domestic sales and overseas export. Core offerings include new-car sales, vehicle maintenance and repair, and insurance agency services — the latter two forming a recurring "stock-type" revenue base. All subsidiaries operate under the parent's overarching strategy of M&A-driven expansion, store-area and brand diversification, and GHG-emissions reduction through store greening initiatives.

Differentiator

Problem solved

Functional benefit

Brands

• OGUNI株式会社: Imported car dealership specializing in Volvo brand, operating as part of the Willplus Group.
• ウイルプラスOGUNI株式会社
• ウイルプラス帝欧オリオン株式会社

Products and services

• Willplus Checker Motors - Stellantis/Asian Brand Dealership Authorized dealership subsidiary selling and servicing Alfa Romeo, FIAT, ABARTH, Jeep, Peugeot, Citroen, DS, BYD, and Hyundai imported vehicles for individual consumers across Japan.
• Willplus Motoren - BMW/MINI Dealership Authorized dealership subsidiary selling and servicing BMW and MINI vehicles for individual consumers at locations across Kyushu and Kanto regions of Japan.
• Willplus Teio Orion - Volvo Dealership Authorized Volvo dealership subsidiary operating across western Japan (Kyushu, Shikoku, and Hyogo prefectures) for individual Volvo vehicle buyers and owners.
• Willplus Eins - Porsche Dealership Authorized Porsche dealership subsidiary providing new Porsche vehicle sales, maintenance, and after-sales service at Porsche Centre locations in Sendai, Koriyama, and Himeji.
• Willplus Enhance - Jaguar/Land Rover Dealership Authorized Jaguar and Land Rover dealership subsidiary providing new vehicle sales, maintenance, and after-sales service for premium British imported vehicles across multiple Japanese prefectures.
• ENG - Used Car Export Operations Used-vehicle purchasing, domestic sales, and overseas export operations (primarily to Malaysia) supporting portfolio diversification and foreign-exchange risk management for the group.
• Insurance Agency Services Vehicle insurance (property/casualty and compulsory automobile liability) agency services offered to vehicle customers through partnerships with Mitsui Sumitomo Insurance, Sompo Japan, Tokio Marine & Nichido, and SBI Insurance, generating recurring commission revenue.
• Vehicle Maintenance and Repair Services Comprehensive vehicle inspection, maintenance, parts replacement, and recall response services offered at all group dealership locations, providing recurring revenue and supporting customer retention for vehicle owners.

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eleven partnerships are on record, tiered core and emerging.

• Mitsui Sumitomo Marine Insurance (三井住友海上火災保険)coreOthersWILLPLUS acts as insurance agency for Mitsui Sumitomo Marine, selling property/casualty insurance to vehicle customers. Personal data may be shared with the insurer for insurance business operations.
• Sompo Japan (損害保険ジャパン)coreOthersWILLPLUS acts as insurance agency for Sompo Japan, selling property/casualty insurance to vehicle customers. Personal data may be shared with the insurer for insurance business operations.
• Tokio Marine & Nichido (東京海上日動火災保険)coreOthersWILLPLUS acts as insurance agency for Tokio Marine & Nichido, selling property/casualty insurance to vehicle customers. Personal data may be shared with the insurer for insurance business operations.
• SBI Insurance (SBI損害保険)coreOthersWILLPLUS acts as insurance agency for SBI Insurance, selling property/casualty insurance to vehicle customers. Personal data may be shared with the insurer for insurance business operations.
• BMW Group (BMW/MINI)coreChannel Partner/ Reseller/ DistributorWILLPLUS MOTOREN and WILLPLUS MOTOREN Tokyo operate as authorized BMW and MINI dealers in Japan, holding dealership rights for specified territories.
• Volvo Japan (沃尔沃日本)coreChannel Partner/ Reseller/ DistributorWILLPLUS TEIO ORION and OGUNI operate as authorized Volvo dealers in Japan, holding dealership rights for western Japan territories.
• Porsche Japan (ポルシェジャパン)coreChannel Partner/ Reseller/ DistributorWILLPLUS EINS and WILLPLUS OGUNI operate as authorized Porsche dealers in Japan, holding dealership rights for specified territories.
• Jaguar Land Rover JapancoreChannel Partner/ Reseller/ DistributorWILLPLUS ENHANCE operates as authorized Jaguar and Land Rover dealer in Japan, holding dealership rights for specified territories.
• Stellantis Japan (Alfa Romeo, Fiat, Abarth, Jeep, Peugeot, Citroen, DS)coreChannel Partner/ Reseller/ DistributorWILLPLUS CHECKER MOTORS operates as authorized dealer for multiple Stellantis brands in Japan, including Alfa Romeo, Fiat, Abarth, Jeep, Peugeot, Citroen, and DS.
• BYD Auto JapanemergingChannel Partner/ Reseller/ DistributorWILLPLUS CHECKER MOTORS operates BYD AUTO dealer points in Fukuoka area.
• Hyundai JapanemergingChannel Partner/ Reseller/ DistributorWILLPLUS operates Hyundai Citystore locations in Sendai, Fukuoka, and Tokyo (pre-opening), as authorized Hyundai dealers.

Scale indicators8 records

Recent moves12 records

Expansion highlights6 records

Direct peers

• YANASE & Co. YANASE is Japan's largest imported-car dealer group, operating authorized showrooms for Mercedes-Benz, BMW, Audi, Porsche, Volkswagen, and other foreign brands. It is the most direct competitor to Willplus in the multi-brand imported car dealership space in Japan, with a comparable long-term relationship/'home doctor' service model and recurring maintenance revenue.
• Nextage Co. Nextage is a publicly listed Japanese automotive dealer group operating showroom networks for both domestic and imported brands, plus a used-car and export business. Comparable to Willplus in scale, multi-brand retail model, and M&A-driven expansion, although Nextage leans more into used vehicles and domestic brands.
• IDOM Inc. (formerly Gulliver International): IDOM is one of Japan's largest used-car retailer/auction companies, operating a network of 'Gulliver' branded stores and a used-car export business. Comparable to Willplus in retail footprint, focus on imported vehicles, and used-car export operations (overlapping with Willplus's ENG subsidiary).
• Big Motor Co. Big Motor was previously a major Japanese multi-brand car dealer group with both new and used vehicle sales plus large-scale maintenance operations. Despite its recent corporate scandal and restructuring, it remains a comparable operator to Willplus in scale, multi-brand retail, and maintenance-driven recurring revenue.

Broad incumbents

• USS Co. USS operates Japan's largest used-car auction network, providing wholesale auction services to ~50,000 member dealers. While broader in scope than Willplus's directly-operated retail model, USS is comparable as a major Japanese used-car intermediary and a publicly traded benchmark for the vehicle resale ecosystem.
• Mercedes-Benz Japan: Mercedes-Benz Japan is the regional distributor for Mercedes-Benz, managed by YANASE, and sets dealer-network standards and allocations for one of Japan's largest imported-car brands. Indirectly comparable to Willplus as a peer-level force in the imported-car retail ecosystem.

Others

• Yellow Hat Ltd. Yellow Hat is a major Japanese chain of automotive aftermarket parts retailers and service shops, with car purchase, maintenance, and inspection services. Comparable to Willplus's recurring maintenance business model but operates in the aftermarket rather than OEM-franchised space.
• AUTOBACS SEVEN: AUTOBACS SEVEN is Japan's largest specialty retailer of automotive parts, accessories, and aftermarket services with a nationwide store network. Adjacent to Willplus's maintenance/parts business but not a direct competitor, as AUTOBACS is aftermarket-only and Willplus is OEM-franchised.
• SBI Holdings (auto insurance distribution): SBI Insurance is one of Willplus's four core insurance carrier partners and operates as a direct-to-consumer online auto insurer in Japan. Comparable as an adjacency in Willplus's insurance agency revenue stream, though SBI is a carrier rather than a dealership.

Regional players

• Volkswagen Group Japan: Volkswagen Group Japan is the regional distributor for VW, Audi, Lamborghini, and other brands in Japan, with controlling influence over dealer network standards. Comparable to Willplus as a major imported-car distribution channel in Japan, though operating as an OEM/importer rather than an independent dealer group.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Customer concentration

• Instagraminstagram.com/willplus_recruit

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Willplus