投資情報インベストウォーカー

J.D. Power and Associates Reports:
Despite Overall Industry Improvement in Long-Term Dependability, Some Vehicle Brands Don’t Receive the Credit They’re Due

（出典：J.D. Power and Associates）

Japanese Models Capture Nine Segment Awards, While Domestic Models Garner Seven and European Models Earn Three; For the First Time in More than A Decade, A Domestic Model Achieves Lowest Incidence of Problems

WESTLAKE VILLAGE, Calif.: 18 March 2010 - Twenty-five of 36 vehicle brands have improved in long-term dependability in 2010, compared with their performance in 2009, continuing a steady trend of industry-wide improvement. However, for some of these brands, consumer perceptions have not kept pace with their actual performance, according to the J.D. Power and Associates 2010 U.S. Vehicle Dependability StudySM (VDS) released today.

The study, which measures problems experienced by original owners of three-year-old (2007 model year) vehicles, includes 198 different problem symptoms across all areas of the vehicle. Overall dependability is determined by the level of problems experienced per 100 vehicles (PP100), with a lower score reflecting higher quality.

The Vehicle Dependability Study is used extensively by vehicle manufacturers worldwide to help design and build better vehicles-which typically translates to higher resale values-and by consumers to help them make more-informed choices for both new- and used- vehicle purchases. According to J.D. Power and Associates, among new-vehicle shoppers, perception of quality and dependability is the most influential factor in their decision to purchase a specific vehicle model.

The study finds that several brands that perform well in long-term dependability in 2010 are avoided at relatively high rates due to consumer concerns about dependability.1 Among brands included in VDS, Cadillac, Ford, Hyundai, Lincoln and Mercury have the greatest lags between dependability performance and consumer perception.

“Producing vehicles with world-class quality is just part of the battle for automakers; convincing consumers to believe in their quality is equally as important,” said David Sargent, vice president of global vehicle research at J.D. Power and Associates. “It takes considerable time to positively change consumer perceptions of quality and dependability-sometimes a decade or more-so it is vital for manufacturers to continually improve quality and also to convince consumers of these gains.”

According to Sargent, approaches that can help reinforce perceptions of high quality in consumers’ minds include: providing extended warranties, which demonstrates a brand’s faith in its products; incorporating features, materials and finishes in vehicles that have a rich feel; and ensuring that new models launch with better quality than their predecessors. In addition, automakers need to increase communication efforts about their high quality and dependability through social media channels such as blogs, Facebook and Twitter, as well as through traditional channels.

Toyota continues to perform well in long-term dependability and garners four segment awards-more than any other nameplate in 2010-for the Highlander, Prius, Sequoia and Tundra. Honda receives three segment awards for the CR-V, Fit and Ridgeline. Lincoln captures two awards for the Mark LT and MKZ. In addition, Audi, BMW, Buick, Cadillac, Chevrolet, Ford, Lexus, Mazda, Mercedes-Benz and Mercury each receive a model segment award.

Porsche leads the overall nameplate rankings in 2010, which is consistent with its performance in the J.D. Power and Associates 2007 Initial Quality Study,SM which measures new-vehicle quality at 90 days of ownership. Lincoln improves by six rank positions from 2009 to follow Porsche in the nameplate rankings. Rounding out the top five nameplates are Buick, Lexus and Mercury. In addition, seven of the 10 models with the lowest incidence of problems in the industry are from Ford and General Motors, including the 2007 model-year Buick Lacrosse, Buick Lucerne, Cadillac DTS, Ford Five Hundred, Lincoln MKZ, Mercury Milan, and Mercury Montego. The Cadillac DTS has the fewest problems in the industry, with just 76 problems per 100 vehicles. This marks the first time in more than a decade that a model from a domestic automaker has achieved the lowest PP100 score in the Vehicle Dependability Study.

Overall vehicle dependability has improved by 7 percent in 2010 to an average of 155 PP100, compared with 167 PP100 in 20092-a rate that is consistent with historical industry gains. In addition to the improvement in overall dependability, the rate of component replacement has also been reduced from 2009. Approximately 65 percent of owners indicate they replaced a vehicle component in 2010, compared with 68 percent in 2009.

“The improvements in long-term dependability and component replacement rates are good news for both consumers and manufacturers,” said Sargent. “Manufacturers benefit from lower warranty expenses, while consumers incur lower maintenance and repair costs, as well as less inconvenience.”

The study also finds that long-term dependability has a significant positive effect on repurchase intent. Among owners who say they did not experience problems with their vehicle, 43 percent indicate they “definitely will” repurchase their current brand. This figure declines to 28 percent among owners who say they experienced at least one problem with their vehicle.

The 2010 Vehicle Dependability Study is based on responses from more than 52,000 original owners of 2007 model-year vehicles. The study was fielded between October and December 2009.

Find more detailed findings on vehicle dependability as well as model photos and specs by reading an article and reviewing brand and segment dependability ratings at JDPower.com.

1Source: J.D. Power and Associates 2009 Avoider StudySM
2Due to a change in the problem battery in 2010, PP100 scores for 2009 have been adjusted to allow for comparison with 2010 PP100 scores.

About J.D. Power and Associates
Headquartered in Westlake Village, Calif., J.D. Power and Associates is a global marketing information services company operating in key business sectors including market research, forecasting, performance improvement, Web intelligence and customer satisfaction. The company’s quality and satisfaction measurements are based on responses from millions of consumers annually. For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. J.D. Power and Associates is a business unit of The McGraw-Hill Companies.

About The McGraw-Hill Companies
Founded in 1888, The McGraw-Hill Companies is a leading global information services company meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor’s, McGraw-Hill Education, Platts, Capital IQ, J.D. Power and Associates, McGraw-Hill Construction and Aviation Week. The Corporation has more than 280 offices in 40 countries. Sales in 2009 were $5.95 billion. Additional information is available at http://www.mcgraw-hill.com/.

～リリース抜粋～

2010.3.19

物流施設特化型不動産私募ファンド（資産規模234億円）の組成に関するおしらせ

当社は、現在運用中の第1号ファンド（商業施設特化型、オストラファンド、総資産550億円）、第2号ファンド（賃貸住宅特化型、ステーブル･レジデンシャルファンド、総資産299億円）、第3号ファンド（商業施設特化型、ドリーム・リテール・ファンド、総資産356億円）に続き、本年3月19日に第4 号ファンド（物流施設特化型、ドリーム・ロジスティクス・ファンド、総資産234億円 以下「本ファンド」）を組成しました。
同時に、当社親会社（100%）の三菱商事は、国内機関投資家および国内年金基金等と共に、本ファンドに対して出資を行います。

本ファンドは三菱商事グループが有する不動産開発、物流・金融事業ノウハウを組み合わせて組成するもので、投資対象は首都圏４物件と九州地方１物件の計５物件（三菱商事による開発物件で、本年3月19日付けで産業ファンド投資法人から取得する「船橋物流センター」を含む）により構成されます。
いずれの物件も、当該エリアにおける物流要所に立地すると共に、信用力の高いテナントとの間で中長期の賃貸借契約が締結されており、ファンド運用期間を通して安定的なキャッシュフロー（賃料収入）が見込まれております。

本ファンドの出資者は、複数の国内機関投資家および年金基金等から構成されます。デット資金については、ノンリコースローン（非遡及型融資）と機関投資家向け特定社債（2010年3月2日にムーディーズより予備格付けを取得済み）を組み合わせて調達します。三菱商事グループの物流施設運用力、および金融機関との良好な取引関係を背景として、現下の厳しい不動産融資環境下においても好条件でのデット資金調達を実現しました。

当社は、2004年の会社設立以来、国内外の機関投資家向けに複数の不動産私募ファンドを組成し、運用を行って参りました。現在の運用資産残高は2,300億円を超え、総合商社系では最大規模の不動産私募ファンド運用会社となっております。

一昨年に発生した金融危機後、調整局面が続いている国内不動産私募ファンド市場において、当社では本ファンドの組成活動を通じて、いち早く機関投資家等の「安定的なキャッシュフローを裏づけとした優良不動産への投資ニーズ」を発掘し、具現化することができました。
今後も投資家のニーズに的確にお応えしていくべく、産業界と幅広い接点を有する総合商社系ならではの特色ある不動産私募ファンドを立ち上げていく方針です。

記

1) ファンド名称
： ドリーム・ロジスティクス・ファンド
2) 運用開始時期 ： 2010年3月19日
3) 投資対象 ： 首都圏を中心とする稼働中の物流施設
4) 資産規模 ： 約234億円
5) 運用期間 ： 5年間
6) 投資家 ： 国内大手機関投資家・年金基金等

It is a milestone in the history of Facebook. In the week of March 7 to 13, Facebook has for the first time, recorded a better hearing in the United States as Google, making it the most visited site, reports a study published in the Financial Times. Facebook has also doubled its number of members in one year, from 200 million to 400 million, according to this study.

The study conducted by the firm Hitwise said that the social network has more than tripled its attendance in one year in the United States, from just over 2% of site visits to 7.07% last month pointing March. Google has made little progress in one year, from just over 6% of visits to 7.03%. Together, they account for nearly 14% of all visits to the United States. Despite its ratings success, sales of Facebook, however, doubling from one year to another ? estimated at between 600 million and 700 million in 2009, it could amount to 1.1 billion dollars or $ 2 billion ? is far behind the 23.6 billion worth of Google, which launched Buzz in response to the success of Facebook. “The real value of Facebook and social networking is becoming clear to specialists,” said Augie Ray, an analyst at Forrester Research, quoted by the Financial Times.