was a Japanese
consumer finance
Personal finance is the financial management that an individual or a family unit performs to budget, save, and spend monetary resources in a controlled manner, taking into account various financial risks and future life events.
When planning ...
company, or ''
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 and . An illegal loan shark who goes above legally permitted maximum interest rates is called ''yamikin'', s ...
''. 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
ATMs, 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
In finance, a loan is the tender of money by one party to another with an agreement to pay it back. The recipient, or borrower, incurs a debt and is usually required to pay interest for the use of the money.
The document evidencing the deb ...
s, internet financing,
debt counseling
Credit counseling (known in the United Kingdom as debt counseling) is a process used to help individual debtors overcome their debt through financial education, budgeting, debt management plans (DMPs) – known in the United Kingdom as the indiv ...
services,
credit cards and the Other Operations division which deals with other financing,
parking lot
A parking lot or car park (British English), also known as a car lot, is a cleared area intended for parking vehicles. The term usually refers to an area dedicated only for parking, with a durable or semi-durable surface. In most jurisdi ...
operations,
golf course
A golf course is the grounds on which the sport of golf is played. It consists of a series of holes, each consisting of a teeing ground, tee box, a #Fairway and rough, fairway, the #Fairway and rough, rough and other hazard (golf), hazards, and ...
operations,
venture capital
Venture capital (VC) is a form of private equity financing provided by firms or funds to start-up company, startup, early-stage, and emerging companies, that have been deemed to have high growth potential or that have demonstrated high growth in ...
, Karaoke booth operations,
re-insurance. As of 31-Mar-2005, the Group consisted of the parent company, five domestic consolidated
subsidiaries
A subsidiary, subsidiary company, or daughter company is a company completely or partially owned or controlled by another company, called the parent company or holding company, which has legal and financial control over the subsidiary company. Unl ...
and five overseas
subsidiaries
A subsidiary, subsidiary company, or daughter company is a company completely or partially owned or controlled by another company, called the parent company or holding company, which has legal and financial control over the subsidiary company. Unl ...
.
Scandal
Once Japan's most profitable consumer finance company, Takefuji's reputation has been tarnished since founder and former chairman
Yasuo Takei
Yasuo Takei (武井保雄, ''Takei Yasuo'') (January 4, 1930 – August 10, 2006) was the founder and former chairman of Takefuji (武富士), Japan's number one consumer finance group.
On 17 November 2004 he was given a three-year suspended sent ...
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.
Sports
The company also owned
Takefuji Bamboo, a professional women's
volleyball
Volleyball is a team sport in which two teams of six players are separated by a net. Each team tries to score points by grounding a ball on the other team's court under organized rules. It has been a part of the official program of the Summ ...
team.
See also
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Loans in Japan
External links
*
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Financial services companies of Japan
Companies formerly listed on the Tokyo Stock Exchange
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