Japan Consumer Credit Service takes 49% stake in Carsome Capital for US$22.9 mil

• JACCS’ expertise, resources will be combined with Carsome Capital’s ecosystem
• US$225m given since 2018 to support 45k transactions for dealers, end-customers

[Ed: Article updated with the acquisition price.]

Carsome Group Inc, Southeast Asia’s (SEA) largest integrated car e-commerce platform, and JACCS Co, Ltd (Japan Consumer Credit Service), a consumer finance company, announced a strategic partnership where JACCS has taken a 49% stake in Carsome Capital Sdn Bhd with Carsome Group holding 51%. While Carsome did not disclose the acquisition cost in its statement to the media, JACCS in its media statement in Japan, which was carried by an online news portal, said the acquisition price was ¥3.5 billion (US$22.9 million or RM101.7 million). JACCS also said it will participate in the management of Carsome Capital.

Carsome Capital is the financing arm of Carsome while JACCS is a member of the Mitsubishi UFJ Financial Group. Since its inception in 2018 Carsome Capital has disbursed more than US$225 million (RM1 billion) of financing to support close to 45,000 transactions for Carsome’s dealers and end-customers.

Malaysia is the fifth market in SEA that JACCS has expanded to since its foray into Vietnam in 2010.

According to Carsome, the investment will combine JACCS’ expertise and international resources with Carsome Capital’s ecosystem and local know-how, in order to introduce tailored financing solutions in Malaysia, with an emphasis on under-served segments.

The partnership will also facilitate knowledge transfer to optimize risk assessments, enhance credit governance, and implement best practices that strengthen financial sustainability and portfolio performance.

Eric Cheng (pic), Carsome Group’s co-founder and CEO, said, “Carsome is honored to partner with JACCS, a global consumer finance company, as they mark their entry into Malaysia. By combining JACCS’s extensive expertise with Carsome’s ecosystem, we aim to redefine the mobility financing experience, empowering communities and driving economic growth across the region.”

Ryo Murakami (pic), President and Representative Director of JACCS, said, “We have carefully evaluated the automotive and financing landscape across Southeast Asia, and are excited about the long-term growth potential in this region. We believe Carsome is an ideal partner for us with the potential to drive growth and transformation in the region.”

Nicholas Wong, Carsome Capital’s Managing Director, added “This collaboration allows us to continue serving unserved and underserved markets here in Malaysia, a segment that has always been at the heart of what we do. We are excited to work with JACCS to introduce additional capabilities and technologies, such as AI-driven credit assessments, to expand access to financing to dealers who purchase wholesale inventory from us to sustain their business, as well as end-customers who put their trust in our vehicles.”