Personal loans in Japan are provided by three types of providers. First, there are large, traditional banks, with a long history. Their big advantage is the availability of loans and branches of these banks. Loans are also provided by specialized consumer credit companies. These are often owned by large, multi-national corporation. For example, Acom, one of leading consumer credit companies in Japan, is owned by Mitsubishi UFJ Financial Group. The advantage of these loans is their availability when these companies are willing to serve customers who do not have a bank loan. A big role is played by psychology, when many people feel shame when they go to apply for a loan to the bank and often needs a guarantor.[1]
On the Japanese market, there are companies that operate at so-called gray zone, sometimes called sarakin. According to estimations, about 10% of the population borrowed from them and there are about 10,000 companies like that on Japanese market.[1] Interest rates were as high as 29.2%. This rate was capped to 15-20% p.a.[1]
On Japanese market, it is not as common to work with credit score as with western markets. Every company and bank uses its own credit rating model without any help of credit bureau.[1]
Many regional banks are facing several obstacles – high risk-aversion in Japanese population in general. Secondly, the competition is increasing on the market and legal framework is getting stricter. Finally, many young people are moving to big cities, where they are handled by big banks.[2] This led to the merger of the Bank of Yokohama and Higashi-Nippon Bank.[3]
Last and most recent platform, is P2P lending. There are only few operators in Japan running this platform so this kind of distribution channel is still minor.[4][5]
^ abcd"Lenders of first resort". The Economist. 22 May 2008.
^"Consumer lending in Japan – susceptibility to macro events and foray into new markets". blog.nucleussoftware.com/.
^"Bank of Yokohama, Higashi-Nippon Bank say considering merger". reuters.com. 3 November 2014.
^"Lenders of first resort". The Economist. 2008-05-22. Retrieved 2015-09-05.
^"P2P Lending In Japan – The Current Situation". P2P-Banking.com. 2014-10-15. Retrieved 2015-09-05.
long history. Their big advantage is the availability of loans and branches of these banks. Loans are also provided by specialized consumer credit companies...
indicator specific to the Japanese economy Quantitative easing LoansinJapan Unemployment insurance inJapan Welfare inJapan "World Economic Outlook Database...
secure the necessary funds for implementing the loans evenly each year. The above-mentioned supply and loans should be such that will be conducive to the...
A loan shark is a person who offers loans at extremely high or illegal interest rates, has strict terms of collection, and generally operates outside...
The Nishihara Loans (西原借款, Nishihara Shakkan) were a series of loans made by the Japanese government under the administration of Prime Minister Terauchi...
was widely considered financially the strongest of Japan's large banks, with non-performing loans down to 2.9% of assets. UFJ Holdings, Inc. (株式会社UFJホールディングス;...
of higher education in 1986 were ¥1.4 million. Some students work part-time or take out loans through the government-supported Japan Scholarship Association...
patrol frigate commissioned in 1943, loaned to the Soviet Union in August 1945 and returned 1949, then loaned to Japanin 1953. USS Albuquerque (SSN-706)...
series of loans with Japan, with which he built up the Anhui clique and prepared for a conquest of the south. His secret dealings with the Japanese (including...
of Councillors in the Japan Diet office Laurel Powers-Freeling LoansinJapan List of banks inJapan Financial services inJapanJapanese financial system...
"responsibility-driven" suicides (引責自殺, inseki-jisatsu). Japanese banks set extremely tough conditions for loans, forcing borrowers to use relatives and friends...
personal loans to individual members (a cooperative venture known in the United Kingdom as a building society). The Federal Savings and Loan Insurance...
whose co-function is the provision of business loans to SMEs and business start-ups; and educational loans to individuals for school entrance fees and related...
Toilets inJapan are sometimes designed more elaborately than toilets commonly seen in other developed nations. European toilets occasionally have a separate...
'Japanese Navy') was the navy of the Empire of Japan from 1868 to 1945, when it was dissolved following Japan's surrender in World War II. The Japan Maritime...
of the United Kingdom in 1904. In addition to his famous loan to Japan, Schiff financed loans to many other nations[example needed], including those that...
JICA is part of Japan's official development assistance effort, with a role in providing technical cooperation, capital grants and yen loans. According to...
Eastern Old Japanese, suggesting that the former is an early loan from Korean. He suggests that to eliminate such early loans, Old Japanese morphemes should...
institutions were bailed out through capital infusions from the Government of Japan, loans and cheap credit from the central bank, and the ability to postpone the...
painting was loaned to Japanin 2011-12 and was displayed in an exhibition that originated at the Aichi Prefectural Museum in Nagoya, Japan, in 2011 and traveled...
largest in the world. During the ensuing economic bubble, stock and real-estate loans grew rapidly. Japan became a member of the United Nations in 1956 and...
Dipinjamkan Wolves ke Cerezo Osaka" (in Indonesian). CNN Indonesia. 12 March 2024. "Hubner secures loan to Japan". wolves.co.uk. 12 March 2024. Retrieved...
Japan joined the World Bank Group in August 1952. Loans that were taken out by Japan focused on improving infrastructure, having electrical power generation...
(US$12 billion) and is financed by a low-interest loan from Japan. Operation is officially targeted to begin in 2023, but India has announced intentions to...
Japanese, Arabic, Hebrew, Persian, Portuguese, Dutch, English, and other Austronesian languages. Indonesian differs from the form of Malay used in Brunei...