Takefuji
Encyclopedia
35°41′42.8"N 139°41′28.4"E
is a Japan
ese consumer finance
company, or sarakin
. On September 28, 2010 it filed a petition for commencement of a corporate re-organisation under the Japanese Corporate Reorganisation Act.
, Takefuji claimed to revolutionise the market. The operations were carried out through the following divisions: Consumer Financing division deals with unsecured and non-guaranteed loan
s, internet financing, debt counseling
services, credit cards and the Other Operations division which deals with other financing, parking lot
operations, golf course
operations, venture capital
, Karaoke booth operations, re-insurance. As of 31-Mar-2005, the Group consisted of the parent company, five domestic consolidated subsidiaries and five overseas subsidiaries.
pleaded guilty in 2004 to charges he ordered illegal wiretaps on journalists. Now he's looking for a buyer for part or all of his family's 50-plus percent share in the company. Tokyo Goldman Sachs Group and Sumitomo Mitsui Financial Group are bidding for a controlling stake. Takefuji makes personal loans at some 530 branches across Japan, charging as much as 29% interest.
is a Japan
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
ese consumer finance
Consumer finance
Alternative financial services in the United States refers to a particular type of financial service, namely sub-prime lending by non-bank financial institutions. This branch of the financial services industry is more extensive in the United States than in some other countries, because the major...
company, or sarakin
Sarakin
is a Japanese term for a legal moneylender who makes unsecured loans at high interest. It is a contraction of the Japanese words for salaryman and loan...
. On September 28, 2010 it filed a petition for commencement of a corporate re-organisation under the Japanese Corporate Reorganisation Act.
Services
The Group's principal activity is the provision of consumer financial services, namely to the sub prime segment. This market was previously viewed as an area of money lenders and crime related activities. However, through a network of professional outlets, unmanned outlets, internet outlets and cash dispensers and ATMsAutomated teller machine
An automated teller machine or automatic teller machine, also known as a Cashpoint , cash machine or sometimes a hole in the wall in British English, is a computerised telecommunications device that provides the clients of a financial institution with access to financial transactions in a public...
, Takefuji claimed to revolutionise the market. The operations were carried out through the following divisions: Consumer Financing division deals with unsecured and non-guaranteed loan
Loan
A loan is a type of debt. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrower....
s, internet financing, debt counseling
Credit counseling
Credit counseling is a process that involves offering education to consumers about how to avoid incurring debts that cannot be repaid through establishing an effective Debt Management Plan and Budget...
services, credit cards and the Other Operations division which deals with other financing, parking lot
Parking lot
A parking lot , also known as car lot, is a cleared area that is intended for parking vehicles. Usually, the term refers to a dedicated area that has been provided with a durable or semi-durable surface....
operations, golf course
Golf course
A golf course comprises a series of holes, each consisting of a teeing ground, fairway, rough and other hazards, and a green with a flagstick and cup, all designed for the game of golf. A standard round of golf consists of playing 18 holes, thus most golf courses have this number of holes...
operations, venture capital
Venture capital
Venture capital is financial capital provided to early-stage, high-potential, high risk, growth startup companies. The venture capital fund makes money by owning equity in the companies it invests in, which usually have a novel technology or business model in high technology industries, such as...
, Karaoke booth operations, re-insurance. As of 31-Mar-2005, the Group consisted of the parent company, five domestic consolidated subsidiaries and five overseas subsidiaries.
Scandal
Takefuji has taken a hit recently. Once Japan's most profitable consumer finance company, Takefuji's reputation has been tarnished since founder and former chairman Yasuo TakeiYasuo Takei
Yasuo Takei , was the founder and former chairman of Takefuji , Japan's number one consumer finance group....
pleaded guilty in 2004 to charges he ordered illegal wiretaps on journalists. Now he's looking for a buyer for part or all of his family's 50-plus percent share in the company. Tokyo Goldman Sachs Group and Sumitomo Mitsui Financial Group are bidding for a controlling stake. Takefuji makes personal loans at some 530 branches across Japan, charging as much as 29% interest.