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Credit Saison company logo
Debt & Specialty Finance
FINANCE | Credit & Collections
saisoncard.co.jp

Investments

44

Portfolio Exits

8

Partners & Customers

7

About Credit Saison

Credit Saison (TYO: 8253) provides credit card services, as well as services for payment, leasing, finance, real estate, and entertainment.

Headquarters Location

Sunshine 60 Bldg. 1-1 Higashi-Ikebukuro 3-chome

Tokyo, 170-6073,

Japan

81-3-3988-2111

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Latest Credit Saison News

Top 3 Buys Of The Matthews Japan Fund

Aug 10, 2023

The fund entered positions in Toyota Motor, Mitsubishi Electric and Toyota Tsusho. The Matthews Japan Fund ( Trades , Portfolio ) released its equity portfolio for the second quarter last week. Part of San Francisco-based investment firm Matthews Asia, the fund is managed by Taizo Ishida and Shuntaro Takeuchi. It invests in Japanese companies that have sustainable growth in order to generate long-term capital appreciation. In their quarterly letter, the fund managers noted Japanese markets in enjoyed “several tailwinds for the first time in years, including a positive earnings cycle driven by moderate inflation, meaningful wage gains and policy-driven reforms.” They continued: “Japan equity markets posted double-digit returns for the first half of 2023, along with other developed markets, outpacing emerging markets. Japanese stocks continued their march higher during the second quarter as government policy and activist pressure pushed undervalued companies to increase their payout and buy-back ratios. Hopes for China reopening waned quickly but the U.S. Federal Reserve’s pace of rate hike slowing down amid inflation rates starting to peak out spurred a general risk-on environment. The Japanese yen traded in a range bound for the first three months of the year but in second quarter, as U.S. 10-year bond yield rose towards 4%, and the Japanese yen weakened towards 145 yen.” Based on these considerations, the NPORT-P filing shows the fund established 12 new positions during the three months ended June 30, sold out of six stocks and boosted or trimmed a number of other existing investments. Among its largest new buys were Toyota Motor Corp. ( TSE:7203 , Financial ), Mitsubishi Electric Corp. ( TSE:6503 , Financial ) and Toyota Tsusho Corp. ( TSE:8015 , Financial ). MORE FOR YOU Investors should be aware that, just like 13F reports, NPORT-P reports do not provide a complete picture of a guru’s holdings to the public. Filed by certain mutual funds after each quarter’s end, NPORT-P filings collect a wide variety of information on the fund for the SEC’s reference, but in general, the only information made public is in regard to long equity positions. Unlike 13Fs, they do require some disclosure for long equity positions in foreign stocks. Despite their limitations, even these restricted filings can provide valuable information. Toyota Motor The fund invested in 1.17 million shares of Toyota Motor ( TSE:7203 , Financial ), allocating 2.85% of the equity portfolio to the stake. The stock traded for an average price of 1,974.33 yen ($13.86) per share during the quarter. It previously sold out of the stock in the fourth quarter of 2022. The Japanese automaker has a market cap of 33.11 trillion yen; its shares closed at 2,444 yen on Monday with a price-earnings ratio of 10.98, a price-book ratio of 1.09 and a price-sales ratio of 0.85. Mitsubishi Electric The fund picked up 1.18 million shares of Mitsubishi Electric ( TSE:6503 , Financial ), dedicating 2.53% of the equity portfolio to the position. Shares traded for an average price of 1,783.69 yen each during the quarter. The company headquartered in Tokyo, which manufactures electronics and electrical equipment, has a market cap of 3.96 trillion yen; its shares closed at 1,880 yen on Monday with a price-earnings ratio of 18.56, a price-book ratio of 1.22 and a price-sales ratio of 0.79. According to the GF Value Line , the stock is modestly overvalued currently. Mitsubishi Electric's GF Value Line GuruFocus.com The GF Score of 80 implies the company is likely to have average performance going forward on the back of high ranks for three of the criteria as well as more moderate growth and value ratings. Mitsubishi Electric's GF Score GuruFocus.com The Japan Fund has the largest holding among the gurus with 0.06% of Mitsubishi Electric’s outstanding shares. T. Rowe Price and the iShares exchange-traded fund also have positions. Toyota Tsusho Matthews entered a 271,100-share holding in Toyota Tsusho ( TSE:8015 , Financial ), giving it 2.05% space in the equity portfolio. The stock traded for an average per-share price of 6,205.88 yen during the quarter. The company, which engages in the domestic trade, import and export of various products, including steel, aluminum, electronics, machinery and other related products, has a market cap of 2.92 trillion yen; its shares closed at 8,295 yen on Monday with a price-earnings ratio 10.27, a price-book ratio of 1.52 and a price-sales ratio of 0.30. Based on the GF Value Line , the stock appears to be significantly overvalued currently. Toyota Tsusho's GF Value Line GuruFocus.com The GF Score of 80 means the company is likely to have average performance going forward, driven by high ratings for profitability , growth and momentum . The financial strength is more moderate, however, while the value rank is low. Toyota Tsusho's GF Score GuruFocus.com The fund holds 0.08% of Toyota Tsusho’s outstanding shares. The MSCI ACWSI ETF also owns the stock. Additional trades and portfolio performance During the quarter, the Japan Fund also entered positions in Credit Saison Co. Ltd. ( TSE:8253 , Financial ), Disco Corp. ( TSE:6146 , Financial ) and KDDI Corp. ( TSE:9433 , Financial ), among several other stocks. Matthews’ $662 million equity portfolio, which is composed of 56 stocks, is most heavily invested in the technology and industrials sectors. Overview of the Matthews Japan Fund's portfolio by sector. GuruFocus.com

Credit Saison Investments

44 Investments

Credit Saison has made 44 investments. Their latest investment was in Japan Culture and Technology as part of their Seed on February 2, 2023.

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Credit Saison Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

2/1/2023

Seed

Japan Culture and Technology

Yes

2

4/13/2022

Series B

Julo Financial Technology

$30M

No

3

4/13/2022

Debt

Julo Financial Technology

$50M

Yes

1

4/11/2022

Series B

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$99M

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10

2/16/2022

Seed VC

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$99M

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10

Date

2/1/2023

4/13/2022

4/13/2022

4/11/2022

2/16/2022

Round

Seed

Series B

Debt

Series B

Seed VC

Company

Japan Culture and Technology

Julo Financial Technology

Julo Financial Technology

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Amount

$30M

$50M

$99M

$99M

New?

Yes

No

Yes

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Co-Investors

Sources

2

3

1

10

10

Credit Saison Portfolio Exits

8 Portfolio Exits

Credit Saison has 8 portfolio exits. Their latest portfolio exit was airCloset on July 29, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

7/29/2022

IPO

$99M

Public

2

4/27/2022

Acquired

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$99M

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10

3/10/2021

Acquired

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$99M

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0

12/22/2020

IPO

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$99M

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10

2/28/2020

Acquired

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$99M

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10

Date

7/29/2022

4/27/2022

3/10/2021

12/22/2020

2/28/2020

Exit

IPO

Acquired

Acquired

IPO

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Public

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Sources

2

10

0

10

10

Credit Saison Acquisitions

1 Acquisition

Credit Saison acquired 1 company. Their latest acquisition was Monex Asset Management on August 01, 2015.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

8/1/2015

$99M

Corporate Majority

2

Date

8/1/2015

Investment Stage

Companies

Valuation

$99M

Total Funding

Note

Corporate Majority

Sources

2

Credit Saison Partners & Customers

7 Partners and customers

Credit Saison has 7 strategic partners and customers. Credit Saison recently partnered with Helicap on December 12, 2020.

Date

Type

Business Partner

Country

News Snippet

Sources

12/15/2020

Partner

Singapore

Singapore’s Helicap partners Credit Saison to help low-income borrowers and micro-entrepreneurs: CEO

Fintech lending startup Helicap on Tuesday announced a strategic partnership with Japanese financial services group Credit Saison .

2

1/22/2020

Partner

India

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10

3/14/2018

Partner

Grab, and Chubb

Singapore, and Switzerland

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10

3/13/2018

Partner

Singapore

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10

3/13/2018

Partner

Singapore

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10

Date

12/15/2020

1/22/2020

3/14/2018

3/13/2018

3/13/2018

Type

Partner

Partner

Partner

Partner

Partner

Business Partner

Grab, and Chubb

Country

Singapore

India

Singapore, and Switzerland

Singapore

Singapore

News Snippet

Singapore’s Helicap partners Credit Saison to help low-income borrowers and micro-entrepreneurs: CEO

Fintech lending startup Helicap on Tuesday announced a strategic partnership with Japanese financial services group Credit Saison .

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Sources

2

10

10

10

10

Credit Saison Team

1 Team Member

Credit Saison has 1 team member, including current Chief Executive Officer, Hiroshi Rinno.

Name

Work History

Title

Status

Hiroshi Rinno

Chief Executive Officer

Current

Name

Hiroshi Rinno

Work History

Title

Chief Executive Officer

Status

Current

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