Japan Consumer Credit Service (JACCS), part of Mitsubishi UFJ Financial Group, is betting on Southeast Asia’s booming used-car market, acquiring a 49% stake in the financing arm of Carsome Group.
The partnership between JACCS and CARSOME Capital aims to expand auto financing in Malaysia, particularly for underserved borrowers, according to a statement.
The CARSOME Group, a Malaysian unicorn, will hold a majority 51% stake in CARSOME Capital.
The deal marks JACCS’ entry into Malaysia and a broader push into Southeast Asia, where the company sees strong long-term growth potential. JACCS has already established a foothold in Indonesia, the Philippines, Vietnam, and Cambodia.
“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. The partnership will also facilitate knowledge transfer to optimize risk assessments, enhance credit governance, and implement best practices that strengthen financial sustainability and portfolio performance,” according to an announcement by Carsome Group.
CARSOME Capital, which has disbursed over 1 billion ringgit in financing across 45,000 transactions since 2018, plans to leverage AI-driven credit assessments to improve risk evaluation and expand financing access for car dealers and buyers.
