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Acquisition by Par24 Co.,Ltd

Park24 Co., Ltd. operates and manages parking facilities primarily in Japan. It operates in Parking and Mobility businesses. The Parking business offers standard times business model, which rents land from individual or corporate landowners, as well as operates parking facilities; and times partner service business model that rents parking facilities for visitors of commercial facilities, financial institutions, and administrative authorities. This business also provides parking facility management services, such as emergency response and equipment maintenance services on behalf of the parking facilities operated by hospitals and administrative authorities, as well as manned management services, such as dispatching employees who receive security training; and management services for monthly parking spaces and monthly times parking facilities. In addition, this business offers B-Times, a membership service that matches a landowner who wants to utilize idle land effectively with a driver who wants to park their car. The Mobility business offers rent-a-car service under the Times Car RENTAL brand that provides use of a vehicle for business and leisure purposes; a car sharing service under the Times Car PLUS brand for daily use; and road services that include onsite emergency handling and car-carrying services to automobiles and motorcycles. Park24 Co., Ltd. was founded in 1971 and is headquartered in Tokyo, Japan.

Park24 Co., Ltd.(TSE:4666, hereafter; the “Company”) hereby announce it has reached a definitive agreement in acquisition of 80% shares in Secure Parking Pty. Ltd (hereafter; Secure Parking Australia), Secure Parking SINGAPORE Pty. Ltd (hereafter; Secure Parking Singapore), and Secure Parking Corporation Sdn.Bhd. (hereafter; Secure Parking Malaysia) to welcome the three entities into Park24 Group(hereafter; the “Group”), after the board meeting on December 7, 2016. The Company has also reached a definitive agreement in shareholder deeds with 20% remaining shareholders for each of the three entities. 1. Background and purpose of the share acquisition The Company has been engaged in hourly parking services under the brand of “Times” since 1991. In 2009, along with acquisition of Mazda Car Rental Corporation (now known as Times Mobility Networks Co., Ltd.), the Company entered into mobility business, which mainly focuses on provision of rent-a-car service and car sharing service, by utilizing the Company’s parking business network. Today, the Company operates 17,171 parking sites, 645,849 spaces, 16,252 vehicles in the car sharing service, and 26,691 vehicles in the rent-a-car service in Japan (as of the end of October 2016), and is the leading provider of parking and car sharing services in Japan. The Company has also penetrated into South Korea and Taiwan markets in 2006, where it has grown to become the market leading parking business provider in both of the markets, after years of steady growth. “Secure Parking” began parking business in Australia in 1979, is a global parking business group, operating in eleven nations worldwide with particular focus in Asia and Oceania regions. The Company will be welcoming “Secure Parking” businesses in five out of eleven nations, including Australia, New Zealand, the United Kingdom, Singapore and Malaysia (aggregate of 881 parking sites and 318,862 spaces) to the Group. Amongst the five nations, “Secure Parking” is the market leader in Australia, Singapore and Malaysia. As a consequence to formation of this international partnership, the Group will have 18,052 parking sites and 964,711 spaces across eight nations, and will become the largest parking business operator worldwide in number of operating parking sites, while number of spaces will also reach to one million-scale. The Company will aim not only faster business development in the existing markets, but also entrance into new market / geographical areas by collaborating in development and in operation know-hows that both parties has developed thus far, and by leveraging the Company’s credibility, IT system such as online parking system “TONIC” and IT development capability, and the global development capability of “Secure Parking”. The Company also contemplates to begin car sharing business that is currently operated in Japan by leveraging established parking business. The Company will acquire 80% shares in “Secure Parking” companies in the target nations (total of 13 companies) and will form a partnership with remaining shareholders to achieve stabilized business from retention and enhancement of managements, and to achieve faster business development from synergy generation. The Company will aim to achieve a “comfortable automobile society” in a global scale as a global player of parking and mobility businesses with presence in Asia and Oceania region including in Japan