STANDAGE Co., Ltd. (Head office: Minato-ku, Tokyo; CEO: Akinori Adachi; hereinafter referred to as “Standage”) and SBI Africa Co., Ltd. (Head office: Minato-ku, Tokyo; CEO: Tomoya Kitagawa; hereinafter referred to as “SBI Africa”) are pleased to announce that they have entered into a business alliance and have jointly begun exporting and selling used auto parts to Nigeria.

▶Background of the business partnership
Used cars from Japan are popular in Nigeria, which has one of the largest populations in Africa with a population of over 200 million. However, the exported used cars are used until they no longer run, and a huge number of scrapped cars are discarded and illegally dumped throughout the country.
In addition, there is a shortage of parts and technology to recycle automobiles, resulting in a low reuse rate.
SBI Africa, which exports used cars mainly to emerging countries such as African countries, and Standage, which has a local subsidiary in Nigeria, will work together to develop local sales channels and export used auto parts, for which demand is high, in order to increase the reuse rate of used cars in Nigeria and promote resource circulation.

▶ Overview of business partnership
SBI Africa has been exporting and selling Japanese used cars mainly to East African countries through its cross-border e-commerce website "SBI Motor Japan" for overseas buyers, which was launched in October 2020, and its car sales base in Kenya. This will be its first foray into Nigeria.
Standage has a local subsidiary in Nigeria and provides "DiGiTRAD," a comprehensive digital trade service that handles all trade operations, from matching sellers and buyers to payment, financing, and cargo delivery.
For this export of used automobile parts, the two companies, which have bases in Africa, will work together to develop sales channels, and the export of SBI Africa's used parts will be carried out using Standage's DiGiTRAD service.

Going forward, we plan to expand the export of used auto parts not only to Nigeria but also to other West African countries, while also working together to promote the reuse of automobiles in developing countries, including Africa, and contribute to the creation of a recycling-oriented society.

▶SBI Africa Business Overview
SBI Africa purchases high-quality, reasonably priced used cars and sells them primarily in Africa.
In addition to our used car export business, we also work with local financial institutions and partners in Africa to provide financial services such as auto financing, international remittances and payments, microfinance and venture capital investment, thereby contributing to the economic development of African countries, improving local living standards and providing employment opportunities.

Company name: SBI Africa Co., Ltd.
English name: SBI Africa Co., Ltd.
Head office location: 15th floor, Izumi Garden Tower, 1-6-1 Roppongi, Minato-ku, Tokyo
Representative: Representative Director Tomoya Kitagawa
Capital: 100 million yen
Established: August 1, 2019
URL:https://www.sbiaf.co.jp/

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[Contact for inquiries regarding this press release]
SBI Africa Co., Ltd.
Tel: 03-6229-0086

STANDAGE Co., Ltd.
TEL: 03-6435-3371, FAX: 03-6435-3372
President and CEO: Akinori Adachi
Executive Vice President: Kenta Omori
Inquiry Email: info@standage.co.jp