JAPANESE consumer finance firm Acom Co. Ltd. has opened its first branch in the Philippines, with the end goal of providing fast, accessible and collateral-free financing services and unsecured personal loans to middle-class Filipinos.
Acom Consumer Finance Corp. President Masaomi Gido expressed excitement on their entry to the Philippine market given the improving economic status of mid-income earners.
“We are confident we can push the financial capacity of Filipinos even further because we don’t just aim to commercially empower the individuals, but to also contribute to the local economy through various opportunities,” she said during the official launch of their new office located at the AIC Burgundy Empire Tower in Pasig City on Tuesday. The pioneering outlet currently employs around 44 staff members, 37 of whom are Filipinos and seven are Japanese.
The company bared its plan to open a second branch in Ali Mall in Cubao before the year ends.
Pressed on its possible expansion in the Visayas and Mindanao regions, Gido said they would like to focus on Metro Manila first.
In fact, Acom will install sales booths in malls and other buildings as part of this initiative, he said.
The top executive further disclosed the company’s plans for the coming years, stating that they are already working on providing more services to the Filipinos through the expansion and implementation of their information-technology system such as system marketing.
The financing firm, though, did not divulge their business prospects, following their latest expansion in the domestic market.
Acom Co. Ltd. mainly operates a loan business and focuses on credit screening and loan collection from this business. Also, it performs guarantee business, loan- servicing business and overseas financial business.
Its segments include loan and credit-card business, guarantee business, and loan-servicing business. Other categories include contracting at the contact center and temporary personnel services.
Overseas financial business includes unsecured loan business and installment loan business (Installment sales finance business) in Thailand, as well as banking business in Indonesia.
The company serves over 1.6 million customers in both countries. Soon, it will build its presence in Vietnam.
Based on its financial performance disclosure for fiscal year ended March 2018, Acom Co. Ltd. earned ¥74.233 billion in consolidated profits.