PETALING JAYA: A newly forged strategic partnership between car e-commerce platform Carsome and global consumer finance firm JACCS Co Ltd is expected to pave the way to more innovative products and services for car buyers and dealers, the two parties said today.
In a joint statement issued today, Carsome Group Inc and JACCS (Japan Consumer Credit Service) said the Japanese consumer finance provider will take a 49% stake in Carsome Capital Sdn Bhd.
Carsome Group, the parent company of Carsome Capital, will retain 51% of the ownership to continue as controlling shareholder. JACCS is a member of the Mitsubishi UFJ Financial Group.
The combination of JACCS’s expertise and international resources and Carsome Capital’s local know-how and ecosystem will enable them to introduce tailored financial solutions in Malaysia, with a special focus on the under-served segment, the two companies said.
“The partnership will also facilitate knowledge transfer to optimise risk assessment, enhance credit governance, and implement best practices that will strengthen financial sustainability and portfolio performance,” they added in the statement.
Carsome Group founder and CEO Eric Cheng said the two partners will bank on JACCS’s expertise and Carsome’s ecosystem, “to redefine the mobility financing experience, empowering communities and driving economic growth across the (Southeast Asian) region”.
JACCS president and representative director Ryo Murakami said his company had “carefully evaluated the automotive and financing landscape” in Southeast Asia before it signed on with Carsome.
“We believe Carsome is an ideal partner for us (given) its potential to drive growth and transformation in Southeast Asia,” he said.
Carsome Capital Malaysia managing director Nicholas Wong said the collaboration with JACCS will enable Carsome to serve the segments that are currently under-served or unserved.
He said the partnership would lead to the introduction of new capabilities and technologies such as AI-driven credit assessment to expand access to financing for dealers who purchase wholesale inventory.
JACCS, founded in Hakodate, a city in Japan’s northernmost island Hokkaido in 1954, offers solutions such as credit cards as well as auto and home financing.
