We see enormous potential for the parking lot business in the flourishing Asian markets

With success in Japan as the foundation, onto Thailand, Korea

“We want to operate parking lots of major buildings that serve as Japan’s metropolitan landmark.” President Tatsumi has carried such a goal, ever since the start of the subleasing business of parking lots. In the process of producing results one property after another, our company has been able to obtain parking lot properties of major buildings, and has aimed to expand our business to Asian countries. For countries with striking economic growth rates, the number of buildings and cars increase, and thus, there has definitely got to be a need for parking lots. Around 2010, we started researching ASEAN countries with economic growth rates over 3~10%. At that time, Singapore had a lot of skyscrapers that we would readily target, and the central metropolitan area had already seen several people renting parking lots at around the same price as Japan. Given such a situation, we targeted candidates of our global expansion to be countries with the potential of parking lot pricing to grow several times as large as the status quo. For subleasing business, the timing of economic growth is crucial. In 2010, the Thai subsidiary was founded, and in approximately 8 years, we acquired over 40 properties. In addition, we were able to obtain parking operation of a major building that serves as a landmark in the capital Bangkok. Currently, we have subsidiaries in Korea and in the future, we aim to further develop our business in countries such as the Philippines, Vietnam, and Myanmar.

Regarding Our Work in Global Business

A will to eliminate accidents and traffic from Asian countries through parking lot business

Kawamura: At Nippon Parking Development, we have concentrated on the subleasing business of parking lots of buildings in metropolitan areas. After achieving our goal of acquiring parking lot property of Japan’s greatest building, we attained a position in the first section of the Tokyo Stock Exchange and set our aim to expand our parking business to Asian countries. When we founded the Thai subsidiary in 2010, Thai parking lots were around 3,000yen per month. That was one-tenth of the Japanese standard. We wanted to strive to expand our business in Thailand, which had the potential of its parking lot rates to grow several times more in the next few years. Through such a desire, we founded our first ever overseas subsidiary. When expanding business overseas, I believe that success only ensues when one has great passion for a country, so we make sure that the people involved that have a strong desire to specifically do business in that country. I personally like the warm, laid back atmosphere of Thailand, so I thought that if I am going to start an overseas subsidiary, it would be in Thailand. As of 2018, we have acquired over 40 properties. Compared to our original plan, this is a pretty slow pace. I initially thought that by utilizing the know-how of Japan, we would be able to progress at a slightly faster pace; however, parking lot business is directly tied with the specific country’s economic development, and every country has its own respective law enforcements. There were many more challenges than initially expected.

Kawamura: When we started our parking lot business in Thailand, many building owners would say, “We are already doing parking lot operation”. There were already parking lots, cars going in and out, as well as security guards. There wasn’t a need for anything more. Building owners would have their own drivers drive their cars to the front door and would get off there, so they are not aware of the unsanitary conditions and dark spaces of parking lots. The challenges were beyond the initial expectations, but we executed one project at a time, and increased the number of properties we acquired. As a result, we were able to expand our sales of many parking lots. When expanding overseas, there is always a unique “sense” that we must hold, in terms of risk management and other aspects. In the future, we want to make Thailand to be hubs for the production of human capital that contributes to overseas expansion. Also, in Thailand, in collaboration with Toyota Motors, we have worked on a traffic clearing project. By setting up 15 different parking lots (2,794 cars) for park and ride, aiming to lessen the flow of cars travelling from the suburbs to the metropolitan areas, we sent out real-time, parking lot space availability information via a smartphone application, and saw clear results. In the coming future, Asian countries will definitely be in need of parking lots. I hope that our business becomes one that not only expands for the sake of expanding overseas, but also one that strives to solve the country’s issues. And I cannot deny that I have a dream of finding our business on a country’s history textbook within a few decades!

Smiles of enthusiastic employees as the ultimate source of happiness

Jeong: When I was in high school, I dropped out due to the Asian currency crisis, and faced times when I had no house and no food to eat. I wanted to do business in real estate, and I had a conviction that I could do it, but I had no money and no educational background. It pained me that I had no environment set up that would allow me to do this. This is why, when establishing the Korean subsidiary, that I wanted to provide employees with the will to work the proper work, an opportunity for them to build a family and become parents. One “tsubo” (unit to measure floor space) became forty “tsubo”, the number of employees grew from 1 to 30, and we are expecting the number to grow to 50 by next year, and when seeing everyone so enthusiastic and happy to work, I find the work worthwhile. As the scale of our company is still small, I am depositing the employee’s salaries, but being able to deposit the salary of an employee whose annual salary has increased after relentless effort, feels so great. Like, thinking that the increase in monthly pay will allow an employee to go on a date with his girlfriend, or give a present to his or her parents. Eventually when we are listed on the stock exchange, and have the capacity to hire approximately 1,000 employees, I want to create a structure that provide employment for children who cannot study for financial reasons as well as financial support for them to enroll in college. The current Nippon Parking Development is exactly that model. But Korea is merely a transit point for me. I want to help those in need in other countries, through parking lot business in other developed countries.

*Information on this webpage is as of the time of the interview.


Kenjj Kawamura

Joined Nippon Parking Development in 1991. During his years in trading, he travelled worldwide for metal exports, and constantly broke records to serve at the very forefront of sales. After joining Nippon Parking Development, he has opened countless accounts with his sales skills and has built the foundation of the parking lot business today.

President and CEO
Pyll Gyu Jeong

Born in Korea. After graduating from a Japanese university, joined Nippon Parking Development in 2010. Starting on-the-ground, he has served in area management, leasing and new sales, which has led to his role as NPD Korea’s President and CEO since July 2014. He works to advance the business expansion in the parking lot consulting industry of Korea, which holds a scale of parking lot business equivalent to that of Japan.

Related Service

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    Nippon Parking Development Group now includes TCK Workshop, an online private tutoring service for internationally mobile children, as well as Nippon Car Service Development, a car sharing business. With regards to globalization, TCK provides educational services to children overseas, whilst Nippon Car Services is adapting to modern times, as the trend of driving and car ownership changes.

  • Creating new businesses
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    New Businesses

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