JACCS CO., LTD.
8584・Prime Market・Other Financing Business
Business
JACCS Co., Ltd. is a consumer credit company founded in 1954, with its core Domestic Business comprising three main segments: Credit, Payment, and Finance. The Credit Business handles shopping credit and auto loans; the Payment Business covers credit cards, rent guarantees, and collection agency services; and the Finance Business provides mortgage guarantees and bank personal loan guarantees. Overseas, the company operates consumer finance centered on motorcycle and auto loans across four countries: Vietnam, Indonesia, Cambodia, and the Philippines. As an equity-method affiliate of the MUFG Group, with Mitsubishi UFJ Bank as its principal shareholder, JACCS is pursuing business expansion by leveraging group collaboration.
Business Model
The company partners with member merchants, affiliated financial institutions, real estate management companies, and others, earning fee and interest income by making advance payments on behalf of consumers or providing debt guarantees. In the Domestic Business, transaction volume of ¥5,767,623 million generated operating revenue of ¥170,415 million. Fee-based businesses such as collection agency services and rent guarantees also contribute to revenue diversification. Overseas, local subsidiaries adopt a model in which they directly extend motorcycle and auto loans and earn interest income.
Company Strengths
In March 2025, the company concluded a new capital and business alliance agreement with MUFG Bank, and in September of the same year completed a third-party allotment of new shares totaling ¥39,084 million. Two directors nominated by MUFG Bank were accepted onto the board, institutionally underpinning group collaboration on initiatives such as bank personal loan guarantees and auto loan programs.
Domestic segment transaction volume reached ¥5,767,623 million (up 2.6% year on year). Across the three divisions of Credit, Payment, and Finance, the company maintains a broad range of merchant and partner relationships spanning home renovation, industrial solar, investment condominiums, rent guarantees, collection agency services, and auto leasing, diversifying dependence on any single product category.
The company has obtained long-term issuer ratings of A+ from both the Rating and Investment Information, Inc. (R&I) and the Japan Credit Rating Agency (JCR). It has established a total of ¥130.0 billion in commitment lines with domestic financial institutions, securing diverse funding methods combining corporate bonds, commercial paper, and receivables securitization. Approximately 70% of funding is composed of fixed-rate instruments, managing interest rate fluctuation risk.
ENVALITH's Perspective
Performance Trend
Operating revenue increased for five consecutive fiscal years, rising from ¥164,070 million in FY2022 (ending March 2022) to ¥192,315 million in FY2026 (ending March 2026) (up 0.7% year on year). On the other hand, operating profit peaked at ¥33,126 million in FY2024 (ending March 2024) before declining sharply for two consecutive years, reaching ¥20,414 million in FY2026 (ending March 2026) (down 20.7% year on year). The main cause was the expansion of financial expenses (interest on borrowings of ¥25,869 million, interest on CP of ¥2,819 million) due to rising funding rates against the backdrop of the Bank of Japan's policy interest rate hikes. Although credit-loss-related expenses in the Overseas Business decreased, this was not enough to offset the increase in domestic financial expenses. The company's forecast for FY2027 (ending March 2027) is operating revenue of ¥192,500 million (up 0.1% year on year) and ordinary profit of ¥11,000 million (down 45.7% year on year), a severe outlook that factors in increased financial expenses, higher system-related costs, and a delayed recovery in Indonesia.
Growth Strategy
Aiming for renewed growth through three pillars: deepening collaboration with the MUFG Group, structural business transformation shifting from 'quantity to quality,' and enhancing ALM sophistication
Based on the capital and business alliance with MUFG Bank, the company leverages the MUFG Group's customer base in areas such as bank personal loan guarantees, auto loans, and mortgage guarantees for investment condominiums. In May 2025, the company acquired 49% of shares in Carsome Capital Sdn. Bhd. of Malaysia, making it an equity-method affiliate. The company will continue its growth strategy in the ASEAN region through M&A.
In the Overseas Business, the company has discontinued handling products with persistently high receivables outstanding (Indonesian four-wheeled vehicles and used two-wheeled vehicles, Vietnamese commercial vehicles, etc.), prioritizing improvement in portfolio quality. Domestically, management resources are being concentrated on high-profitability products such as housing-related, finance, and rent guarantee businesses. However, due to delays in the recovery of business performance in Indonesia, a partial revision of the medium-term plan has already been implemented.
The company is strengthening interest rate and foreign exchange risk management through the use of derivatives such as interest rate swaps, currency swaps, and currency options. In FY2026 (ending March 2026), the company implemented a third-party allotment capital increase (¥39,084 million), improving the capital adequacy ratio to 7.9%. Under the medium-term plan, the dividend policy targets a stable dividend of ¥200 or more per share, based on whichever is higher between a DOE of 3.0% or a dividend payout ratio of 40%.
Last updated: July 19, 2026