Toyota City, Japan, February 5, 2019―Toyota Motor Corporation (Toyota) announces today it has established KINTO Co., Ltd.1 (KINTO), a new company to manage and operate its beloved-car subscription service2 that proposes a new user-car relationship. The new company is jointly funded by Toyota Financial Services, Co., Ltd. (a wholly owned subsidiary of Toyota) and Sumitomo Mitsui Auto Service Company, Limited (a member of the Sumitomo Corporation Group).
As society shifts from conventional car ownership to car usage that can be enjoyed wherever and as much as users would like, there is a growing need for a service that allows customers to freely select the car that they like or want to drive and enjoy it as they like, instead of using a car simply as a means of transportation.
KINTO proposes a new form of vehicle ownership that invites customers to enjoy their relationship with the car of their choice in a fun and easy manner. Specifically, two services will be offered in Japan. "KINTO ONE" allows customers to drive one Toyota-brand vehicle over a three-year period, and "KINTO SELECT" allows customers to drive six models of Lexus-brand vehicles over a three-year period. Both services are offered as a monthly fixed-sum service that packages voluntary insurance payments, vehicle tax, registration charges, and regularly scheduled maintenance3 of the vehicle. To make the service accessible, customers can easily apply online (https://kinto-jp.com/, Japanese-language only) or through Toyota/Lexus dealers nationwide4, where a safe and secure service is offered.
KINTO SELECT will be offered from 6th of February 2019, and KINTO ONE from 1st of March 2019. Both services will be deployed on a trial basis through select Toyota dealers and Lexus dealers in the Tokyo metropolitan area4, with nationwide rollout scheduled from summer 2019. The number of vehicle models available as part of the service is slated for expansion from the beginning of autumn.
Toyota will continue to engage in initiatives such as KINTO to ensure that cars can continue to be the beloved cars of customers and to allow customers to enjoy a fulfilling life with their car.
1Name signifying a service that quickly appears when necessary, enabling mobility as per the user's wishes like a kintoun (Japanese for "flying nimbus")
2Monthly fixed-sum service
3Applicable only to KINTO ONE
4KINTO ONE services will be available from Toyota dealers within Tokyo except for TOYOTA NISHITOKYO COROLLA, Netz Toyota Tama, and Netz TOYOTA TOTO dealers. KINTO SELECT services will be available at Lexus dealers within Tokyo except for Lexus Tama, Lexus Higashiyamato, Lexus Nerima, Lexus Koishikawa, and Lexus CPO dealers.
Summary of KINTO Co., Ltd.
|1.8 billion yen
|Details of business
|All business activity related to mobility services including automotive leasing, automotive repair and inspection, vehicle management, sales and purchase of second hand vehicles.
|Date of establishment
|January 11, 2019
|Lucent Tower, 6-1 Ushijima, Nishi-ku, Nagoya, Aichi Prefecture
Overview of the subscription programs (details of Tokyo trials)
|Subscribers can choose from the five models below. Lineup expansion planned from autumn 2019.
Prius, Corolla Sport, Alphard, Vellfire, Crown
|Monthly fixed-sum (bonus payments also possible)
|Monthly rate includes
|Vehicle charge, registration fees, tax, maintenance, voluntary insurance, vehicle tax
|A point service is planned for introduction from fall this year. The service is planned to award points to customers based on their vehicle usage (such as for safe or ecological driving). Points can be applied toward payments.
|How to apply
Select Toyota dealers within Tokyo (nationwide expansion slated from summer)2
|Users can select Lexus models from the following six choices, with changes possible every six months.
ES300h, IS300h, RC300h, UX250h, RX450h, NX300h
|180,000 yen, excluding tax (194,400 yen including tax)
|Monthly rate includes
|Vehicle charge, registration fees, tax, voluntary insurance, automotive tax
|How to apply
|Select Lexus dealers within Tokyo (nationwide rollout slated for after summer)2. Online applications will be accepted when the service rolls out nationwide.
1Subscribers can choose from three grades and two option packages, and all color options. Interior colors are standard only. (If option colors are selected, an additional charge will be added to the monthly payment.)
2KINTO ONE services will be available from Toyota dealers within Tokyo except for TOYOTA NISHITOKYO COROLLA, Netz Toyota Tama, and Netz TOYOTA TOTO. KINTO SELECT services will be available at Lexus dealers within Tokyo except for Lexus Tama, Lexus Higashiyamato, Lexus Nerima, Lexus Koishikawa, and Lexus CPO dealers.
3Grade, options, and color are all specified by KINTO