Tsubasa System, CARFAX Establish Vehicle History Information Service Company in Japan
Tsubasa System, a corporate business system package developer and seller, and CARFAX of Virginia announced September 16 that they had established CARFAX Japan in July, according to Japan Corporate News Network. Capitalized at 10 million yen ($91,000), the joint venture is 95-percent owned by Tsubasa and 5 percent by R. L. Polk & Co. of the U.S., which wholly owns CARFAX. The new company provides consumers and used-car dealers with used-vehicle history information over the Internet. CARFAX Japan is aiming for sales of 500 million yen ($4.5 million) over the next three years.