Tokyo Century (TYO:8439) will acquire Australia-based Bargain Car Rentals for about 20 billion yen, expanding into the country's retail car hire market, Nikkei reported Thursday.

The deal, set to close on April 1, gives Tokyo Century full ownership of the operator, which runs 13 outlets near major airports and manages a fleet of roughly 5,000 vehicles, according to the report.

The Japanese group plans to deploy management staff and introduce operational systems refined at its domestic affiliate, Nippon Rent-A-Car, to improve efficiency and margins, the report said.

It aims to lift earnings by adding new branches and increasing vehicle numbers by around 30% by 2028. Beyond rentals, Tokyo Century is considering further expansion in Australia through vehicle leasing and maintenance businesses, potentially via additional acquisitions, according to the report.

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