In recent years, the consumer financial service industry of Japan has experienced dramatic improvements. On the other hand, it is also true to be rapidly facing the mature phase. Therefore, the Japanese consumer financial companies must fight their way through the diversification strategy and the internationalization strategy. Many of these companies have tried the diversification strategy, but the internationalization strategy is a challenge in the future, even though few companies are trying it.
Then, which region becomes promising if the Japanese consumer financial companies enter foreign markets? Needless to say, it might be Asia. Then, we decided to research Taiwan and Hong Kong, where the economy and the financial market has especially developed. And we examined the development, the current state, the features, and the problems of the consumer financial service industry in Taiwan and Hong Kong. And we identified the possibility, the conditions and the methods of entry by the Japanese consumer financial companies.
In Taiwan, only the bank can do the business at the present stage, though the consumer financial service industry has developed rapidly in recent years. Therefore, if a Japanese company enters the Taiwan market, it needs to make an alliance with a bank. On the other hand, in Hong Kong, the consumer financial service industry developed comparatively from early time, and the excessive competition is seen between the consumer financial companies, the card companies and the banks. So it is expected to be difficult to develop consumer financial business in Hong Kong. However, because the business model of the consumer financial service industry in Japan has not been established enough in both Taiwan and Hong Kong yet, there might be the possibility for the Japanese consumer financial companies to enter there. Because the Japanese consumer financial companies have a lot of excellent know-how and skills, if they can utilize them well, they could succeed in both regions.
|