Promise (A): Building a Consumer Finance Company in Japan

Case Solution

Walter Kuemmerle, William J. Coughlin
Harvard Business School ()

Describes Promise, Japan’s third-largest consumer finance company. Founded by an entrepreneur in 1963, Promise has grown rapidly, especially in the 1990s when commercial banks were struggling. Promise’s core business is providing people with unsecured loans up to $ 10,000. Despite its growth, the company has retained an entrepreneurial culture. At the time of the proceeding (July 2000), Promise has about 2.2 million customers and faces increasing competition and various regulatory changes. Management will have to make a number of decisions in the future, including new sources of growth and financing, as well as a possible listing on a foreign exchange exchange.

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