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Major consumer finance firm with business base in Kyushu and western Japan. Outstanding loan balance in industry's upper rank.
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| To Our Shareholders |
STAYING AHEAD OF THE COMPETITION AS A NEW SERVICES INNOVATOR
The consumer finance industry is facing more intence competition as new players, including major foreign corporations and banks,aggressively enter the market. At the same time,the retail industry is witnessing fast-pased,far-reaching restructuring whose repercussions are filtering through to the credit card industry and even as far as the banking sector.
Staying on top of these developments is imperative for Sanyo Shinpan. We are putting in place a business structure capable of low-cost,high-caliber operations. Underlying this drive are four key strategies. First,we are extending our cash advance servises nationwide,as exemplified by our full-fledged entry into Eastern Japan. Second,we are pursuiing a credit card strategy pivoted around M&As. This includes the acquisition of Pocket Card Inc. and AZ Card Co., Ltd., in which we acquired a 66% equity stake from kyusyu-based department store Iwataya Department Store Co.,Ltd. Our third strategy is to expand our business of guaranteeing unsecured personal bank loans. Fourth is building our servicer business. Implementing these four strategies will enable us to establish a comprehensive business framework covering upstream to downstream financial services from extension of credit to loan collection. The concentration and selection of resources on these areas will underpin our ambition to become a new services innovator.
The consumer finance industry is facing more intence competition as new players, including major foreign corporations and banks,aggressively enter the market. At the same time,the retail industry is witnessing fast-pased,far-reaching restructuring whose repercussions are filtering through to the credit card industry and even as far as the banking sector.
Staying on top of these developments is imperative for Sanyo Shinpan. We are putting in place a business structure capable of low-cost,high-caliber operations. Underlying this drive are four key strategies. First,we are extending our cash advance servises nationwide,as exemplified by our full-fledged entry into Eastern Japan. Second,we are pursuiing a credit card strategy pivoted around M&As. This includes the acquisition of Pocket Card Inc. and AZ Card Co., Ltd., in which we acquired a 66% equity stake from kyusyu-based department store Iwataya Department Store Co.,Ltd. Our third strategy is to expand our business of guaranteeing unsecured personal bank loans. Fourth is building our servicer business. Implementing these four strategies will enable us to establish a comprehensive business framework covering upstream to downstream financial services from extension of credit to loan collection. The concentration and selection of resources on these areas will underpin our ambition to become a new services innovator.
