Category: TCUSA News

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Executive Perspective “Welcome to Chaos” by Chris A. Enbom featured on EL&F Magazine

“WELCOME to CHAOS for those running equipment finance companies! Underneath all of the headlines of the growth of equipment finance portfolios over the past few years and the health of the industry, the equipment finance industry is facing significant structural issues requiring fast reactions from its leaders. In this article, I explain several of the problems facing industry participants….

EL&F Magazine NOV/DEC 2023

Tokyo Century Corporation (TC) hereby announces that its consolidated subsidiary Tokyo Century (USA) Inc.
(TCUSA, headquartered in New York, US) has acquired 100% of shares of the U.S.-based equipment dealer
Fiber Marketing International, Inc. (FMI, headquartered in Washington, US) and made it a wholly owned
subsidiary.

1. Purpose of the share acquisition

FMI provides comprehensive services related to the sales of specialized equipment, including the sales of
small construction equipment and arbor equipment and vehicles, as well as after-sales service such as parts
replacement, maintenance and inspection, and equipment rental, mainly in the State of Washington. Demand
for small construction equipment offered by FMI is expected to increase with the expansion of infrastructure
investment and repairs in the U.S. In addition, the sustained growth of the market for arbor equipment and
vehicles is expected due to increased focus on active prevention and mitigation of wildfires on the West Coast.
TCUSA has made AP Equipment Financing Inc. (API, headquartered in Oregon, US), a leasing and financing
company with a focus on small and medium-sized trucks and arbor equipment and vehicles, a wholly owned
subsidiary in 2019. Furthermore, it has positioned API’s business as one of the growth drivers in North America
and made Work Truck Direct, Inc. (WTD, headquartered in Oregon, US), a dealer of small and medium-sized
trucks and arbor equipment and vehicles, a wholly owned subsidiary in May 2021. TCUSA has established a
One-Stop Service structure, which provides not only leasing and financing, but also sales and after-sales
service.
The main equipment provided by FMI does not overlap with that of WTD. Moreover, FMI and WTD are based
in neighboring marketing areas that form a mutually complementary relationship, which can increase financing
opportunities for API. In addition, they are expected to achieve synergies that will lead to an increase in sales
volume by introducing manufacturers to each other and strengthening purchasing ability.
With the addition of FMI to the collaborative structure of API and WTD, TCUSA will be able to expand its OneStop Service model that offers sales and financing of niche products in the U.S. as an integrated service,
which was formulated in its strategy. Going forward, TC will continue to accelerate the expansion of its
business domains in the U.S., the important strategic area of its International Business segment.

Read more…

Moto Tohda, Vice President / IS, Tokyo Century (USA) Inc. has been selected as one of the NextGen Leaders by the magazine, monitor, and interviewed in the “The NextGen & Technology” Issue.

Tokyo Century Corporation is pleased to announce its consolidated subsidiary Tokyo Century (USA) Inc. (TCUSA) has acquired 100% of shares of the U.S.-based dealer Work Truck Direct Inc. (WTD Equipment), making it a wholly owned subsidiary.

1. Purpose of the share acquisition

WTD Equipment is a specialized dealer in the niche market of highly customized vehicles and equipment, with a high level of expertise in small and medium-sized trucks for e-commerce and arbor equipment and vehicles. WTD provides services to major US medium duty truck dealers to assisting in configuration, order timing and transportation of specialty trucks directly to small business customers. WTD also sells and services special purpose equipment and trucks used in construction, landscaping and tree care. WTD works closely with AP Equipment Financing, a wholly owned subsidiary of TCUSA since 2019, who markets and makes available vehicles to its financing customers.

AP Equipment Financing is an independent leasing and financing company focused on small and medium-sized trucks and arbor and other niche-industry focused equipment and vehicles. The company offers fast, high value-added finance services by leveraging its vast customer database for effective marketing.

The purchase of shares will further strengthen collaboration between AP Equipment Financing and WTD Equipment and expand our value chain within the niche market in the U.S. and one-stop service that accurately meets customer needs.

Due to the COVID-19 crisis, demand has increased for e-commerce as a means of procuring everyday essentials. Having trucks to complete the last mile delivery is therefore becoming indispensable as a social infrastructure, and sustained growth of the transportation market is expected to continue well into the future. At the same time, arbor equipment and vehicles are expected to play vital roles in preventing forest and grass fires as well as protecting the environment in nations with large forested areas.

Tokyo Century Corporation will integrate the expertise of TCUSA, AP Equipment Financing, and WTD Equipment in services such as parts replacement and repair of specialized vehicles and equipment. WTD will also greatly expand its short-term rental business in response to the increasing needs of small and medium-sized trucks and arbor equipment during busy seasons. This will enable Tokyo Century Corporation to expand its service domain in line with its “niche market × service” strategy and accelerate growth of the Group’s U.S. business.