August 10, 2000
The Sakura Bank, Limited
Establishment of Factoring Company
The Sakura Bank, Ltd. (Akishige Okada, president) has got the approval for the establishment of factoring specialized company by Financial Services Agency.
Outline of the new company
| Name: |
Sakura Factors Co., Ltd. |
| Capital: |
JPY 3.0 billion |
| Shareholders: |
Sakura Bank(100%) |
| President |
Fuminori Yoshitake (General Manager, Middle Market Banking Division, Sakura Bank) |
| Headquarter |
Tokyo |
| Main businesses |
Guarantee and purchase of sales credit and bills receivable |
Scheduled
establishment |
Middle of August 2000 |
Scheduled
launch |
Late August 2000 |
Specific Features of new company
| 1. |
Risk control based on quantification of the risk |
|
-Quantification of credit risk by the statistical analysis of financial data |
|
-Fulfillment of ROE management through the controlled risk and balance by practical portfolio management |
| 2. |
Quick response to variety of customers needs through the business process revolution |
|
-Development of specialized system for factoring and reduction of time for loan examination |
|
-Establishment of database covering wide variety of buyers through the quantification model for credit risk as well as the utilization of existing factoring subsidiary. |
| 3. |
Lower fee realized by the cost reduction in the process and operation system |
|
-Fees depending on the credibility of the buyers (from 1 % to 6%) |
|
-Attractive low fees through the minimum examination and management costs |
| 4. |
Guarantee of credibility of buyers as main business |
|
-Suitable for outsourcing of management of credit between firms |
|
-Smoothing of trade by the enhancement of buyers' credibility |
|
-Credit enhancement for trade on the Internet |
|
-Attractive low fees through the minimum examination and management costs |
Copyright(C)2000 THE SAKURA BANK, LIMITED |