Japan-based phygital/hybrid used-car trader Idom Inc. has raised JPY3.0 billion ($18.6 million U.S.) from the issuance of unsecured corporate bonds.

The bonds, which have a face value of JPY100 million each, were offered between June 21 and June 27 and will mature on June 25, 2027.

Rated BBB+ by Japan Credit Rating Agency, the bonds bear an interest rate of 1.8% per year with biannual interest payments.

Tokyo-listed Idom says the funds will be used to open “new large-scale stores.”

The company operates auto sites Gulliver (221616.com) and GulliverFrima, in addition to physical sales outlets. It also has a U.S.-based subsidiary — Gulliver USA. Idom had net sales of $2.7 billion during the 12 months to February 2024.

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