Kuala Lumpur, Malaysia – CARSOME Group and the Japan Consumer Credit Service (JACCS), which is also a member of the Mitsubishi UFJ Financial Group, have announced a strategic partnership via CARSOME Capital, the financing arm of CARSOME.
The partnership will combine JACCS’ longstanding 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.
As part of this strategic partnership, JACCS will invest into CARSOME Capital and will own a 49% stake. CARSOME Group will continue to hold a majority 51% stake.
The partnership will also facilitate knowledge transfer to optimise risk assessments, enhance credit governance, and implement best practices that strengthen financial sustainability and portfolio performance.
Eric Cheng, co-founder and CEO at CARSOME Group, said, “CARSOME is honored to partner with JACCS, a global consumer finance company, as they mark their strategic entry into Malaysia through our partnership. 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.”
Meanwhile, Nicholas Wong, managing director at CARSOME Capital Malaysia, commented, “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.”
Lastly, Ryo Murakami, president and representative director at JACCS, stated, “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, starting with Malaysia, and then to other Southeast Asian markets. Our investment in CARSOME Capital underscores our confidence in this partnership and our commitment to creating long-term value in the automotive financing industry.”
