章節 1204: Chapter 1204 Consumer Credit
After coming to the island country for a month and a half, Xia Yu successively took over Nomura Securities, Koshi Industries, and Taiyo Fisheries.
Among them, Nomura Securities is one of the top ten securities companies, and in terms of strength and influence alone, it is stronger than the securities companies of the six major consortia.
Companies such as Mitsui Securities and Fuji Securities are currently no match for Nomura Securities.
Add to this Xia Yu's own Jiuding Securities Company, as well as the securities companies set up by other financial companies in the island country.
In fact, in the securities industry, he is already very powerful and can completely ignore the island country's six major consortia.
It's just that the island country's six major consortia haven't noticed.
Xiaosi Industry Company, although not as powerful as Fuji Group's Hitachi, Sumitomo Group's Panasonic Electric, or Mitsui Group's Toshiba, is still a large industrial company with a significant market share in many fields, and is definitely qualified to be a core industrial company.
As for Taiyo Fisheries, there is no need to mention it, as it is the largest fisheries company in the island country.
Without mentioning market value and profits, in terms of revenue alone, it can enter the top 30 in the island country, and is definitely a large industrial company.
Considering the proportion of the island's economy that the fishing industry accounts for, and the demand of the island's people for the fishing industry, although Ocean Fisheries Company will have a difficult few years, its influence alone is already enough to satisfy Xia Yu's needs.
As long as it can survive these few years, and after the international oil price comes down, Ocean Fisheries Company's days will naturally be better.
Xia Yu is familiar with the future trend of oil prices and is not at all panicked.
With this one financial company and two industrial companies, he has somewhat established a foothold on the island.
However, it is still far from enough to compete with the island's six major consortia.
Planning for the Sanwa Group requires a combination of the right timing, location and people. Right now, he is just laying the groundwork.
Although he feels that he has a good grasp of the situation, he does not want to put all his eggs in one basket just to be on the safe side.
Moreover, his future enemies will definitely not be just one group from the island nation, but possibly multiple groups. Therefore, even if he successfully absorbs the weakest Sanwa Group in the end, he may not be able to withstand the pressure from the other five groups and the island nation's political circles.
In particular, the Fuji and Mitsubishi consortia, which support the far right, are extremely powerful. The Mitsubishi consortium is the strongest in the island country and is supported by the island country's military.
Therefore, it is imperative and achievable to establish a business empire under his complete control in advance.
Today, the island country's six major consortia control 60% of the island country's corporate assets, as well as 55% of its total capital, 60% of its consumer channels and 20% of its employees.
On average, each of the six consortia controls 10% of the company assets and less than 9% of the total capital.
If companies and families outside the six consortia in the island nation can unite now, it is certainly enough to establish two or three consortia comparable to the six consortia. There is always room for manoeuvre.
The difference is that the six consortia in the island nation will not want to see the emergence of new consortia. Even if other families and companies unite, they cannot be of one mind and cannot resist the pressure with all their strength.
However, what they cannot do, Xia Yu can. His will is the will of the consortium. If he can establish a consortium in the island country, it will definitely be the most united one. Even the so-called most united Sumitomo consortium is far inferior to Xia Yu.
The goal is good, but the key is to have a strong company that can withstand the attacks of other consortia.
Moreover, he also needs to absorb the capital of the island country as soon as possible in order to have enough funds to initiate an attack.
The source of funds is, fundamentally, also from the general public of the island, so the bank is the key. It absorbs deposits from depositors and operates fully to generate sufficient revenue.
Bank deposits are the formal channel, but because the interest rate for bank deposits is low, it is relatively difficult to attract deposits and the competition is intense.
Xia Yu also plans to take advantage of another unscrupulous method that the island government allows.
After all, the island is not Hong Kong, and Xia Yu can act without any scruples. The people of the island are not his compatriots anyway, and since the islanders themselves are so ruthless, he certainly doesn't care.
The evil way he has his eye on is none other than the consumer credit industry!
The consumer credit industry in the island began to rise in the 1960s.
The reason for its rise is that banks only lend to large and medium-sized enterprises, and generally do not pay enough attention to micro-enterprises and personal consumer credit businesses. Even if there are related services, the requirements are relatively high and the procedures are cumbersome.
At the same time, although the island country introduced the 'Capital Contribution Law' and the 'Interest Rate Restriction Law' in 1954, they were ineffective due to poor law enforcement.
The regulatory vacuum, coupled with the lack of formal consumer credit channels, provided an opportunity for the vigorous development of private lending on the island, with various small consumer credit companies and their business outlets spreading all over the streets and alleys.
The original prototype was the 'monthly instalment service provided by department stores'. The main promoters were retail companies and department stores, so these consumer credit companies also expanded using this model.
The rapid development of the consumer credit industry on the island and its attraction to all kinds of people is because the islanders value credit, because no matter how poor the borrower is, they will want to repay the loan.
...
On April 2nd,
Xia Yu did not go to the office, but stayed at home, checking out the consumer credit industry in the island country.
The information was organised into hundreds of pages, and this was only a condensed version, which shows the complexity of the consumer credit industry in the island country.
As he continued to learn, the mystery of the current situation of the consumer credit industry in the island country was also revealed.
In summary, it is a situation of many players competing with each other, and there is no giant with absolute dominance yet.
There are thousands of consumer finance companies of all sizes, spread across all regions of the island country. These consumer finance companies are essentially loan sharks. The stronger ones span multiple regions, while the weaker ones only survive in the most basic townships.
All six of the island country's major conglomerates have entered the market, and in addition to this, the families that make up these conglomerates have also set up separate consumer finance companies to compete.
It's no wonder that so many people are rushing into this market, mainly because the profits are so high.
The interest rate for raising funds can be as low as a few percent, but the interest rate for lending can be as high as a few tens of percent to 30 percent!
If that's not usury, what is?
But there was no other way. Although the interest rate for loans from the island's banks was around 7 percent at this time, it was difficult for small and medium-sized enterprises and individuals to get loans.
They had no choice but to borrow from consumer finance companies!
That said, among these consumer finance companies, those with the backing of the island's six major conglomerates, such as Aiful (溢满信贷), Promise (诚信信贷), and Acom (橡实信贷), are already the top companies in the industry.
Of course, in addition to consumer finance companies backed by the island's six major conglomerates, there are also consumer finance companies backed by some small and medium-sized families and associations, as well as many companies established by people who started from scratch.
Among them, the more prominent one is Takei Yasuo, who established Takefuji Credit in 1966 and renamed it in 1974. It is nicknamed the 'yen shop', meaning a shop where you can buy and sell yen.
Takei Yasuo?
The richest man in the island country in later generations?
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