 | |
_2023-09-18.jpg) A Big Motor dealership in Tama, Tokyo, Japan. | |
Native name | 株式会社ビッグモーター |
|---|---|
Romanized name | Kabushiki gaisha Biggumōtā |
| Company type | Private |
| Founded | 1976 |
| Founder | Hiroyuki Kaneshige |
| Defunct | 2024 |
| Fate | Purchased by Itochu and rebranded into to WECARS, liabilities handled by spinoff Balm Co. |
| Headquarters | , Japan |
Number of locations | 300 (2023) |
Area served | Japan |
Key people |
|
| ¥ 5.756 billion (2011)[1] | |
| ¥ 3.325 billion (2011)[1] | |
| Total assets | ¥56.322 billion (2011)[1] |
Number of employees | 6,000 (2023)[2] |
| Website | Archived website |
BIGMOTOR Co. (株式会社ビッグモーター, Kabushiki gaisha Biggumōtā) is a defunct Japanese automotive retailer. Formerly the largest used car dealer in Japan,[2] in 2023 the company was hit by a series of scandals and allegations of widespread, systematic insurance fraud.[3] The allegations led to the resignation of its founder and president, Hiroyuki Kaneshige, Japan's Financial Services Agency revoking company's insurance agent registration,[4] and ultimately the sale of the company to Itochu general trading company, which rebranded the company into WECARS.[5] The allegations also implicated insurance company Sompo Japan, who was accused of purposely ignoring the fraud to preserve its business relationship with Big Motor.[6] The Big Motor scandal has prompted a greater reassessment of Japan's insurance industry and investigations into the largest Japanese insurance firms.[7]
- ^ a b c "非上場の親会社等の決算に関するお知らせ" (PDF) (in Japanese). 29 June 2012. Retrieved 31 October 2024.
- ^ a b Kazuyoshi, Shimoya (10 May 2023). "ビッグモーター不正報道｢完全黙殺｣成功の諸事情". 東洋経済オンライン (in Japanese). Retrieved 31 October 2024.
- ^ Messager, Yann (16 January 2024). "Japan's Crisis of Confidence". The Diplomat. Retrieved 31 October 2024.
- ^ Araullo, Kenneth (15 November 2023). "FSA lays down punishment for Bigmotor following insurance claims scandal". www.insurancebusinessmag.com. Retrieved 31 October 2024.
- ^ Kimura, Hiroaki; Miyazaki, Ken (2 May 2024). "Scandal-plagued Bigmotor rebranded, but still challenges". The Asahi Shimbun. Retrieved 31 October 2024.
- ^ "Sompo CEO to step down over Bigmotor insurance fraud scandal". Kyodo News. 26 January 2024. Retrieved 31 October 2024.
- ^ Yuasa, Kensuke; Sekiguchi, Yuki (5 August 2023). "Japan finance watchdog vows insurer probe after price-fixing allegations". Nikkei Asia. Retrieved 31 October 2024.