Message From CEO
Aiming to Be a Peerless New Finance Company in Asia
The environment facing companies is changing enormously, and it is vital for management to be capable of responding to the “global,” “Internet,” “innovation” nexus. In the non-bank sector where Credit Saison is situated, laws and regulations have changed the earnings structure of card businesses, with increasingly fierce competition in credit cards, electronic money, prepaid cards, and shared-platform loyalty points programs from entrants from other sectors. We are striving to expand across a range of businesses—our internet business, lease segment and finance segment, retail finance in Asia, etc.—to lessen our overreliance on credit cards.
Credit Saison has a collection of business assets accumulated over more than three decades in card businesses, including expertise in retail finance, a Group customer base of 35 million cardmembers, innovative products and services, and a wide network of alliances. We continue to value “collaborative management,” where we combine these assets in multi-faceted ways, and have created many unique strategic resources based on unconventional ideas. All Group employees harness these resources to market to companies in the system we have built. We seek to retain our business focus on building up our individual cardmember base using our strength in attracting new cardholders, but we also aim to lock in demand from companies for various settlement and funding needs through our corporate marketing. Through these efforts, we are striving to retool our business model via the provision of an array of cashless settlement functions to our individual and corporate customers in Japan and across Asia.
As a result, we steadily broadened our business portfolio on multiple fronts in fiscal 2014. Our cumulative 16 million, issuance of international prepaid cards, we developed a new settlement service via our relationship with a venture capital firm. In Singapore, we took a capital stake in and formed an operational alliance with Matchmove Pay Pte., Ltd., a virtual prepaid card company. Moreover, in Vietnam, we formed a comprehensive operational and capital tie-up with HD Bank, including an equity stake in its renamed finance arm HD SAISON Finance Co., Ltd.
Our aim is to become a peerless new finance company in Asia that outstrips rivals. In Japan, we contribute to our alliance partners through stepped-up corporate marketing that combines diverse business areas and innovation that creates customer value, securing competitive advantages in markets. In Asia outside Japan, we look to harness the card business know-how we have amassed so far at home to scale up our entry into retail financial businesses by collaborating with local companies. Through these efforts, we are building the foundations for sustainable growth.
Hiroshi Rinno, President and CEO