We are the pioneer of
extended warranty in Japan
We develop and operate stable
and long-term extended
We provide programs that
meet our client’s needs
It has been over 25 years since we started as the pioneer of extended warranty business in Japan and over the years, the general public has become more aware of what warranties are. Compared to the warranty markets in Europe and the United States, the size of the Japanese warranty market is still small but with today’s trends in innovation and digitalization of various products, warranty needs have been on the rise.
Ever since its founding, Techmark Japan has continued to earn the trust from of our customers as the pioneer to start the warranty business in Japan. Counting from when we started our business in Japan, up until the end of December 2021, the number of products covered by our warranty program contracts we have exceeded 153 million and the number of claims which we have managed has also reached to 10.1 million. In 2024, we will mark the 30th anniversary of our business in Japan.
"Extended warranty" is essentially a service that provides free repairs for products in the event of a mechanical breakdown or failure during a specified period of time after its manufacturer warranty expires. With our market environment changing, such as the development of IoT (Internet of Things or products being connected to the internet), other technological advancements, the increase in awareness of environmental issues, the enormous impact of COVID-19 in our industries, the inflation in product parts price and the change in the accounting rules, various new demands have been emerging. Some examples of the new demands arising among consumers and companies are: Predictive/preventive repair by using IoT, switching from self-insurance warranty programs to insurance backed warranty programs for commercial equipment, and providing warranty programs for non-mechanical products such as eye glasses and furniture.
Additionally, for companies that manufacture and/or distribute these aforementioned products, the importance of using extended warranties as a competitive advantage of the products in the market has also been on the increase. Techmark Japan has therefore developed, operated and managed extended warranty programs for a large number of companies. We provide a broad range of services from market needs analysis related to extended warranties, developing and supporting the sales of extended warranty programs, accepting claims request, and providing claims adjudication and data analysis. We contribute in areas that affect the essence of management and strategy of our client companies, such as by analyzing the clients’ product claims data from various perspectives, providing information that leads to the clients’ product development and its quality assurance and presenting them with a product repair costs forecast.
We will further enhance the quality of our services, which is backed up with the trust we have gained from our corporate clients and consumers in Japan and our track record. All of us at Techmark Japan will work together to meet the various demands of our corporate clients and consumers, and strive to be a company that continues to lead the extended warranty industry in Japan.