Japan 2 billion in pledges $ Ready to Philippines for a rail project
Personal loans in Japan are provided by three suppliers First, there are large traditional banks, with a long history Their great advantage is the availability of loans and branches of these banks loans are also provided by finance companies these often specialize consumption are owned by large multinational company, for example, Acom, a leading consumer credit companies in Japan owned by Mitsubishi UFJ Financial Group the advantage of these loans is their availability when these companies are ready to serve customers who do not have a bank loan a large role is played by psychology when many people feel shame when they go to apply for a loan at the bank and often need a guarantor 1.
In the Japanese market, there are companies that operate in the so-called gray area, sometimes called Sarakin estimated that about 10 of the population taken from them and there are about 10 000 companies as the Japanese market 1 The interest rates were so high that 29 2 what rate was capped at 15-20 per year 1.
In the Japanese market, there is no common working with Western markets on credit score Every company and the bank does its own credit rating without any help credit bureau 1.
Many regional banks face several obstacles to greater risk aversion of the Japanese general population Second, competition is increasing on the market framework and legal becomes stricter Finally, many young people are moving to big cities where they are processed by the major banks 2 This led to the merger of the Bank of Yokohama and Higashi-Nippon Bank 3.
latest platform and the most recent, is ready P2P There are only a few operators in Japan this platform running if this type of distribution channel is still minor 4. 5
Acom - currently the market leader with 713 billion yen in unsecured loans to consumers 7.
Aiful - with 216 billion yen in unsecured loans to consumers 7.
Sumitomo Mitsui Banking Corporation - formerly Promise Co name Mobit market - with 181 billion yen in unsecured loans to consumers 7.
Maneo, Inc. - the first P2P platform in Japan established in 2007 8 It started as a loan provider for consumption, bud changed the focus on SMEs soon It focused on customer credit and variety products extended to loans secured by real estate.
AQUSH - second P2P platform created in Japan in 2009.
SBI social lending Co established in 2008, launched in 2011 This platform also focuses on loans guaranteed.
9 Demand for loans in Japan is rising again after falling in 2010 and 2011, the slow recovery become visible again Regarding 2014, demand increased slightly in particular because of the auto loan, which focused on the positive performance of overall market performance in the first four months of 2014 year was driven by the increase in VAT which has a high demand for expensive items to save taxes 10.
In June 2015, bank lending rose 2 6 The main factors were regional banks, with growth of 3 8 comparing to the same month las year Major banks rose 1 February 11.
product key on the Japanese market are still credit cards with current boom in contactless payments which allows the processing of each faster payment terminal POS 12 This trend moves the cash payments to contactless payments by card Nevertheless, Japanese attitude is Japanese firm risk aversion using their credit card often free riders to pay their balance at the end of the month.
13 14 15 Because of this law, many small businesses on the edge of the market went bankrupt Many more were sold based on the company's declining profitability, for example, GE was selling Lake, 16 their credit division consumption 1.
Loans in Japan, loans, Japan, outstanding unsecured billion billion unsecured loans outstanding.