TOKYO, Japan – March 1, 2019 – AEON Product Finance Co., Ltd. (“AEON Product Finance”) and ORIX Auto Corporation (“ORIX Auto”) announced that they have entered a business partnership for personal car leasing business and will launch joint services starting today.
AEON Product Finance is engaged in a variety of loan businesses, including auto loans and reform loans. This business partnership will enable the company to enter the car leasing business and will provide new options for customers wishing to purchase cars.
Applications for ORIX Auto’s main personal car leasing products-“Imanori Seven” (a seven-year leasing) and “Imanori Nine” (a nine-year leasing)-will now be accepted on the “AEON MY CAR LEASE” section of the “Kurashi-no-Money Site”*1 and the “AEON Wallet” that is official “AEON Card” smartphone app. To mark the business partnership, from March 1 to April 30, 2019, AEON Card members who sign up to car leasing contracts will be gifted 20,000 “WAON POINT”*2.
In recent years, changes in customer values of car ownership have led to a rise in the number of personal car leasing; this now stands at 256,936 cars (as of March 31, 2018), an increase of approximately 110,000 cars*3 compared to five years ago. In 2022, some predictions*4 suggest that the number of personal car leasing will reach 936,000 cars, prompting expectations of further market expansion.
ORIX Auto launched its personal car leasing business in 1984. Since 2010, the company has been strengthening internet sales both through its own website and through other leading shopping websites.
Going forward, AEON Product Finance and ORIX Auto intend to further improve the convenience and quality of their services for customers and engage in a variety of initiatives that take advantage of the strengths of both companies.
*1 “Kurashi-no-Money Site” is a one-stop financial portal website for AEON’s financial services-including its credit, banking, and insurance services-that provide convenience to customer lives.
*2 AEON Card members who apply and sign up to a car leasing contract via “AEON MY CAR LEASE”, within the campaign period are eligible to receive points. WAON POINT will be added to member accounts after the car has been delivered and the leasing has commenced.
*3 Source: “Year-on-year changes in nationwide leased car ownership by vehicle type” by Japan Automotive Leasing Association.
*4 Source: “Auto leasing ownership for individual users predicted to reach 936,000 cars in fiscal 2022” by Yano Research Institute Ltd. press release on August 6, 2018.
Corporate Planning Department