Avis Car Rental announced their return to the Japanese market by marking their opening of its flagship location at Chitose International Airport on Hokkaido Island. Several other locations are planned to open this year including locations at Fukuoka International Airport, Narita International Airport and Kagoshima International Airport. Idex Auto Japan, a dealer of new and previously owned vehicles and car rental operation in Japan has been appointed the Company's licensee to operate the brand. Mark Sevodidio, president of Avis Budget Group released in a statement, "relaunching our iconic premium brand into a market as large as Japan exemplifies our continued commitment to driving sustained profitable growth."
"And with Japan hosting the Rugby World Cup in 2019 and the Olympics in 2020, the timing is perfect. Together with Idex Auto Japan, we look forward to bringing our world-class mobility products and services to business and leisure customers across Japan." The new facilities will provide local and international customers with Avis' world-class products and services, including a wide range of late-model vehicles, short- and long-term rentals and outstanding customer service. Users will be able to book their reservations for Chitose International Airport at their website with the new locations added over time throughout the course of the summer.
"In recent years, the Japanese government took action to relax regulations in an effort to attract tourism, and its efforts has been well received. Japan has had a steady increase in the number of inbound tourists since, and East Asia is set to host some of the world's largest sporting events," said Toshimichi Takada, president of Idex Auto Japan. "We're excited to build on this momentum and operate the Avis brand in Japan at such a critical time." Avis shares have rallied 63.4% over the past year, significantly outperforming competitors and the industry gain of 17.3%. The car rental company has already had a long history operating in Asia with their first location in Hong Kong in 1970. The company has expanded throughout Asia with locations in Singapore, the Philippines, Malaysia, Indonesia and Pakistan. The car rental giant has approximately 300 locations in Asia.