ENVALITH
株式会社クレディセゾン logo

Credit Saison Co.,Ltd.

8253・Prime Market・Other Financing Business

Official website
株式会社クレディセゾン logo
Credit Saison Co.,Ltd.8253

Business

Credit Saison Co., Ltd. was founded in 1951 and is listed on the Prime Market of the Tokyo Stock Exchange as a non-bank comprehensive financial group. It operates six segments: Payment (credit cards), Leasing, Finance (credit guarantee and housing loans), Real Estate-related, Global (lending & investment in India, Southeast Asia, and Latin America), and Entertainment (Amusement). Built on a Payment Business boasting 21.8 million cardholders and ¥6,186,000 million in shopping transaction volume, the company is advancing its transformation into a "GLOBAL NEO FINANCE COMPANY" through a capital and business alliance with Suruga Bank and its network of overseas local subsidiaries.

Business Model

In the Payment Business, the main revenue sources are merchant fees (average rate of 1.1%), customer fees (such as revolving payments, with an effective annual rate of up to 18.0%), and annual membership fees. In the Finance Business, revenue is accumulated through credit guarantee fees (average guarantee fee rate of 6.6%) and housing loan-related income. The Leasing Business generates revenue through finance lease contract fees, the Real Estate-related Business through leasing and sales income, and the Global Business diversifies revenue through overseas lending interest and investment returns. The structure is such that each segment maintains an independent revenue base while enhancing profitability through group synergies and cross-selling.

Company Strengths

In FY2026 (ending March 2026), the number of cardholders reached 21.8 million, with card shopping transaction volume reaching ¥6,186,000 million (up 3.3% year on year). New cardholder acquisitions continued to build up at 1.41 million (up 2.3% year on year), and the customer base continues to expand through new partnerships with the Beisia Group, DMM.com, and others. This scale of membership base constitutes a competitive advantage that is difficult to replicate in a short period.

The Finance Business achieved a business profit margin of 57.2%, and the Real Estate-related Business achieved 61.5%, the highest profitability levels among all segments. The Finance Business's guarantee balance expanded 42.8% from the end of the previous fiscal year to ¥1,065.5 billion, and the receivables balance grew 6.5% from the end of the previous fiscal year to ¥1,335.5 billion, establishing a stable earnings accumulation structure through a partnership network with regional financial institutions.

Selected as a "DX Stock" for three consecutive years (April 2025) by the Ministry of Economy, Trade and Industry, the Tokyo Stock Exchange, and the Information-technology Promotion Agency (IPA). Following the CSDX Strategy formulated in September 2021, the company formulated the CSAX Strategy (AI Transformation) in September 2025 and introduced OpenAI's "ChatGPT Enterprise" to all employees. A track record of operational efficiency improvements has accumulated, including the enhancement of AI-driven fraud detection systems and improvements to call center operations.

ENVALITH's Perspective

In FY2026 (ending March 2026), business profit reached ¥101,999 million (up 8.9% year on year), surpassing ¥100 billion for the first time, while net income attributable to owners of the parent came to ¥61,728 million (down 7.0% year on year), marking a second consecutive year of declining profit. The main causes of the divergence were an impairment loss of ¥6,328 million recognized in connection with the classification of the Amusement Business (Concerto) as held for sale, and losses in the Global Business (Indonesia Investment). The gap between business profit and net income appears to be becoming a persistent trend, requiring ongoing scrutiny of the content and scale of adjustment items. It should also be noted that pre-tax income was revised downward by ¥1,210 million, from ¥91,190 million to ¥89,980 million, in the correction.

In FY2026 (ending March 2026), impairment of financial assets surged 44.2% to ¥62,424 million from ¥43,283 million in the previous fiscal year. External factors such as the ongoing impact of price increases on consumer spending, and the deteriorating business environment in the Global Business (Indonesia), pushed up credit costs. Given that the Global Business fell into an operating loss of ¥1,428 million, strengthening credit management and collection systems will be key to achieving the FY2027 (ending March 2027) earnings forecast (net income of ¥75,500 million, up 22.3% year on year). Trends in credit costs remain the most important metric to monitor going forward.

The consolidated earnings forecast for FY2027 (ending March 2027) calls for net revenue of ¥507,500 million (up 7.3% year on year), business profit of ¥110,000 million (up 7.8%), and net income attributable to owners of the parent of ¥75,500 million (up 22.3%). The sharp recovery in net income is presumed to be mainly due to the disappearance of the one-time loss associated with the sale of the Amusement Business, but it will also require several preconditions, including normalization of credit costs in the Global Business, containment of impairment of domestic financial assets, and mitigation of the impact of US trade policy and price increases on consumer spending. As for the external environment, rising interest rates could have a positive effect on finance revenue, while there is also a risk that rising funding costs (financial expenses of ¥51,090 million, up 28.5% year on year) could put pressure on profit.

Growth Strategy

Aiming for FY2027 (ending March 2027) business profit of ¥110,000 million through three pillars: Payment Business structural reform, stable growth in the Finance Business, and Global Business scale-up

Strategic focus on premium customer segments and corporate (SME) customers, continued realization of revenue effects from revolving fee revisions and the introduction of fees for inactive members, and promotion of operational efficiency and cost structure optimization through DX (CSAX strategy, AI utilization). Aiming for sustainable growth building on FY2026 (ending March 2026) net revenue of ¥277,229 million and business profit of ¥30,625 million.

Continued expansion of housing loan guarantees and free loan guarantees in the Credit Guarantee Business, along with strengthening of the partnership network with regional financial institutions. Guarantee balance is expanding rapidly, up 42.8% from the end of the previous fiscal year, and combined with the accumulation of high-quality receivables from Flat 35 and the Saison Asset Formation Loan, the company aims to maintain and improve its high-profitability structure (business profit margin exceeding 57%).

Continuing the local partner strategy in Vietnam and Brazil, centered on direct lending in India (receivable balance of ¥373.0 billion, up 21.7% from the end of the previous fiscal year). Key challenges include addressing the bad debt cost issue in Indonesia and resolving valuation losses in the Investment Business. Priority will be given to portfolio optimization and profitability improvement through strengthened risk management systems.

In light of the sharp increase in impairment of financial assets to ¥62,424 million (up 44.2% year on year), strengthening credit management and collection systems has been positioned as a key policy. The company will thoroughly control credit risk both domestically and overseas, aiming to normalize credit costs toward achieving FY2027 (ending March 2027) profit attributable to owners of parent of ¥75,500 million (up 22.3% year on year).

Completed the sale of Concerto's Amusement Business through a company split and share transfer effective April 1, 2026. The Entertainment Business segment is planned to be abolished from the following consolidated fiscal year and consolidated into the Payment Business. A one-time loss (impairment of ¥6,328 million) has already been recorded, and from FY2027 (ending March 2027) onward, the absence of this loss is expected to contribute to a recovery in profit for the year.

Last updated: July 19, 2026