Japan leasing firm enters cluttered local market
New leasing company JACCS Finance (Cambodia) Plc, a subsidiary of the Japan-based consumer credit corporation JACCS Group, began offering Cambodian households loans for motorbikes and home appliances on Monday. The group entered a crowded market, becoming the 12th leasing company to establish itself in the Kingdom.
Company officials are optimistic that the new JACCS Finance branch will attract considerable business. “There is still space to grow . . . Cambodia’s economy is growing every year, resulting in a higher income for Cambodian people, who demand many consumer products,” said Masahiro Arayama, the company’s managing director.
“The market is expanding, and for us it is good to enter the market now.” Launching with an initial investment of $2.5 million, JACCS has opened one branch in Canadia Tower and intends to expand the number of Cambodian offices in accordance with market demand.