Next expansion step leads to Japan

• Acquisition of 12 VW Passenger Cars dealership locations

Salzburg, 18 January 2019 - Porsche Holding Salzburg (PHS) has signed an agreement to acquire twelve Group-owned Volkswagen dealership operations in Japan which until now were managed by Volkswagen Group Japan (VGJ).

In the period since 2012, Volkswagen AG has been gradually bundling Own retail dealerships into Porsche Holding Salzburg's operations; that process has already taken place in Germany, Spain, Sweden and France, and is now taking place in Japan.

"We are delighted that as a result of this new undertaking we are now gaining a foothold in Japan, and that our decades of experience in retail will be brought to bear in the already highly successful Volkswagen dealership group," commented Johannes Sieberer, Executive Member of the PHS Board, who is in charge of PIA Retail and also China and Japan.

In order to implement the acquisition, PHS has set up PAIG (Japan) Automobile Investment G.K., based in Tokyo. Ivaylo Pulev (47), an experienced retail manager who until recently was in charge of PHS's operations in China, will be Managing Director of PAIG (Japan).

The twelve dealership locations in Japan achieve annual sales of around 4,000 VW passenger cars (new vehicles). All 328 employees will be taken over as a result of the acquisition.