(372A) Stock Price

Rent operates primarily in the rental business for industrial machinery, construction equipment, and industrial vehicles. The company manages over 600,000 rental assets across approximately 7,000 types of equipment through 63 domestic sales offices and overseas subsidiaries in Thailand, Indonesia, and Vietnam. Rent owns group companies that handle delivery and maintenance, enabling it to provide integrated services from equipment delivery through maintenance.

Major customers span manufacturing, transportation, service industries, and public and private plant construction sectors, with non-construction industries accounting for approximately 59% of rental sales as of May 2025. Beyond rental fees, Rent expands revenue through value-added services including installation support, maintenance, calibration, and training. These services have grown as a percentage of sales in recent years, reaching approximately 15% in 2025, and represent a stable revenue stream.

The business operates as a single rental segment with well-balanced asset composition: vehicles approximately 27%, aerial work platforms approximately 24%, excavation and paving machinery approximately 18%, lifting and transport machinery approximately 10%, generators and environmental equipment approximately 10%, tools and surveying equipment approximately 6%, and lighting and materials approximately 5%. Rent differentiates itself through diverse value-added services including calibration and cleaning at management centers, specialized maintenance for environmental products, sensing systems and training to support on-site safety and efficiency, and battery regeneration services.

The company positions itself as a "one-stop coordinator creating new value," aiming for sustainable growth and long-term improvement in corporate value. It prioritizes revenue, operating profit, EBITDA, and net debt-to-equity ratio as key performance indicators. With consolidated revenue of approximately 49 billion yen, the company holds roughly 2% market share against a domestic rental market size of approximately 2 trillion yen. Based on this scale, the company is pursuing a growth strategy centered on expanding market share and improving profitability in tandem.

Priority investment areas include strengthening urban network coverage and expanding rental assets and back-office facilities. The company is reinforcing branch operations and logistics and maintenance hubs primarily in the Kanto, Chubu, Kinki, and Kyushu regions, building a system to supply over 600,000 units across approximately 7,000 product types more efficiently. Additionally, the company is advancing "Value Plus Services," which offer added-value services focused on environment, safety, and efficiency. Services such as installation support, maintenance, calibration, and training account for approximately 15% of revenue, differentiating the company through investment in this area.

For new market development, the company prioritizes domestic high-demand sectors (large factories, power plants, disaster areas, etc.) and customer expansion beyond construction. Manufacturing, transportation, service, and plant sectors already account for approximately 59% of rental revenue. Internationally, the company operates in Thailand, Indonesia, and Vietnam, advancing business expansion in ASEAN through asset and talent sharing across the group, as well as synergies created via alliances and partnerships with competitors. The company plans to capture demand from national infrastructure investment and green growth sectors, broadening its customer base.

Regarding technological innovation, the company is advancing fundamental business process review and digital transformation (DX) starting with core system renewal in October 2022. By combining online services for improved customer convenience, utilization rate improvements through deployment and operational data, calibration centers, environmentally-conscious maintenance, battery regeneration, and on-site sensing systems, the company aims to enhance asset efficiency and stabilize revenue. Through these initiatives, the company seeks EBITDA improvement less dependent on capital investment and improved customer satisfaction.