| Valuation method | Value, ¥ | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 1985.85 | -8 |
| Intrinsic value (DCF) | 1624.37 | -25 |
| Graham-Dodd Method | 902.15 | -58 |
| Graham Formula | 2182.91 | 1 |
PARK24 Co., Ltd. (4666.T) is a leading Japanese parking and mobility services provider, operating under the well-known 'Times' brand. Founded in 1971 and headquartered in Tokyo, the company manages a diversified portfolio of parking facilities across Japan and internationally, offering hourly, reserved, and monthly parking solutions for both passenger and non-passenger vehicles. Beyond traditional parking, PARK24 has expanded into mobility services, including Times CAR RENTAL, an unattended rent-a-car service, and Times PAY, a payment solution for restaurants and retailers. The company also provides road assistance and insurance agency services. PARK24's integrated approach to urban mobility and parking infrastructure positions it as a key player in Japan's transportation sector, addressing the growing demand for efficient parking solutions in densely populated urban areas. With a market capitalization of approximately ¥333 billion, PARK24 continues to innovate in smart parking and mobility services, leveraging technology to enhance customer convenience.
PARK24 presents a stable investment opportunity with moderate growth potential, supported by its dominant position in Japan's parking industry and expansion into mobility services. The company's diversified revenue streams, including parking, car rental, and payment services, provide resilience against sector-specific downturns. However, investors should note the company's significant debt (¥144 billion) relative to its cash position (¥48.7 billion), which could pose risks in a rising interest rate environment. The stock's low beta (0.525) suggests lower volatility compared to the broader market, appealing to conservative investors. PARK24's dividend yield, though modest (¥5 per share), adds to its attractiveness. The company's ability to capitalize on urbanization trends and smart city initiatives will be critical for future growth.
PARK24 holds a competitive edge in Japan's parking industry through its extensive network of parking facilities and strong brand recognition under the 'Times' name. The company's integration of mobility services (car rental, payment solutions) differentiates it from traditional parking operators, creating additional revenue streams and customer retention opportunities. PARK24's technological investments in unattended parking and digital payment systems enhance operational efficiency and customer convenience. However, the company faces competition from regional parking operators and emerging mobility-as-a-service (MaaS) providers. Internationally, PARK24's presence is limited compared to global parking giants, restricting its growth potential outside Japan. The company's reliance on Japan's urban parking demand makes it susceptible to local economic fluctuations and regulatory changes. PARK24's competitive advantage lies in its scale and diversification, but it must continue innovating to maintain its leadership in an evolving mobility landscape.