For example, Acom, one of leading consumer credit companies in Japan, is owned by Mitsubishi UFJ Financial Group.
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.
[1] Many regional banks are facing several obstacles – high risk-aversion in Japanese population in general.
There are only few operators in Japan running this platform so this kind of distribution channel is still minor.
Performance in first four months of 2014 year was driven by VAT increase that made a high demand for expensive items in order to save taxes.
Japanese are using their credit cards often as free riders – repaying their balance at the end of the month.