Takefuji

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Takefuji Corporation (株式会社武富士, Kabushiki-gaisha Takefuji^?) (TYO: 8564 ) is a Japanese consumer finance company.

[edit] Services

The Group's principal activity is the provision of consumer financial services, namely to the sub prime segment. This market was previous 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 has revolutionised the market. The operations are carried out through the following divisions: Consumer Financing division deals with unsecured and non-guaranteed loans, 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.

[edit] Scandal

Takefuji has taken a hit recently. Japan's most profitable consumer finance company, Takefuji's reputation has been tarnished since founder and former chairman Yasuo Takei 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. The company also owns Takefuji Bamboo, a professional women's volleyball team.