JAPAN: Ito-Yokado mulls move into loans venture
Japanese retail group Ito-Yokado has revealed that it is "carefully considering" moving into the profitable financial venture of offering unsecured loans to consumers, and the knowledge prompted a 6.8% rise in its share value yesterday (7 September). With a strong distribution network that contains about 5,000 supermarkets and convenience stores, an analyst at Deutsche Bank, Paul Heaton, believes that the venture would prove a "serious challenge" to Japan's major consumer finance groups.Shareholders, foreign investors and competitors can now only wait and see if Ito-Yokado applies to the Financial Supervisory Agency for a banking licence. It is expected to do so next month.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 16 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Unilever 2016 investor day - the top takeaways
- Have food promotions reached tipping point?
- The key questions for digital strategists in 2017
- How Tyson's new CEO plans to grow the meat group
- Mondelez goes beyond certified cocoa - analysis
- Nestle unveils process to cut sugar by 40%
- Unilever sets new margin target with help from ZBB
- Unilever focuses on "value" of spreads arm
- McCormick to buy flavours business Enrico Giotti
- Amnesty - Global brands profit from labour abuses