世論 What Japan Thinks

Thanks to legislation in the last couple of years, the rates of interest for personal unsecured loans have dropped from around 27% to a much lower but still outrageously expensive 10% to 19%. To see how these and other changes have affected consumer opinions, MyVoice conducted a survey into personal loans, their fifth annual survey, although I haven’t translated any of the previous ones.

Demographics

Over the first five days of April 2008 14,989 members of the MyVoice internet community completed a private online questionnaire. 54% of the sample was female, 1% in their teens, 14% in their twenties, 38% in their thirties, 30% in their forties, and 17% aged fifty or older.

Here, personal loan is defined as covering consumer credit, “cashing” or cash advances from credit companies (I think that includes cash withdrawls from a credit card) that are paid back in installments, and loans from joint ventures between consumer credit companies and banks. Bank-only loans are not covered.

I personally view these loan companies as gateway drugs to the loansharks; even with the legislation to reduce the interest rates and to require a wealth warning about maintaining a proper balance between income and outgoings the companies are still notorious for high-pressure sales and debt collection tactics, taking advantage of the average consumer’s reluctance to approach a third party for help with debt issues. Persistant rumours of association with the Yakuza hang around many companies despite official statements to the contrary.

For their part, Aiful were responsible for inflicting chihuahuas on too many people with even less money than sense.

Research results

Q1: Have you ever taken out a personal loan? (Sample size=14,989)

Currently have one (to SQ1)	6.0%
Have had one, but not now (to SQ1, SQ2)	12.0%
Never had one (to SQ2)	82.1%

Q1SQ1: From whom did you take out a personal loan? (Sample size=those with loans, multiple answer)

Acom	28.6%
Promise	19.9%
Aiful	19.7%
Takefuji	18.3%
Lake	13.6%
Mobit	11.8%
Dick	7.1%
DC Cash One	6.5%
At Loan	4.6%
No Loan	4.6%
Pocket Bank	3.3%
Unimat Ladies	1.4%
Other	39.6%
No answer	1.4%

Q1SQ2: Why have you never, or do you not have a personal loan? (Sample size=those currently without loans, multiple answer)

Never been in the situation where I needed a loan	56.7%
Doesn’t have a good image	48.6%
Have a loan from a bank or other financial institution	13.1%
Paid one off, and not needed a new loan since	5.9%
Don’t know how to get a loan	2.0%
Don’t know which company is best to use	1.9%
Paid one off, then got a loan from another financial institution	0.5%
Applied for one, but was refused	0.2%
Other	3.5%
No answer	7.1%

Q2: In the last few years, how has your image of personal loans changed? (Sample size=14,989)

Had a good image from long ago, and it’s not changed	2.5%
Used to have a good image, but currently it’s become bad	1.4%
Used to have a bad image, but currently it’s become good	6.5%
Had a bad image from long ago, and it’s not changed	70.3%
Used to have a bad image, and it’s currently worse	10.8%
Other	7.7%
No answer	0.8%

Q3: In the future might you want to take out a personal loan? (Sample size=14,989)

Might like to	1.1%
Would investigate if situation changed	6.4%
Don’t really want to use	10.9%
Don’t want to use at all	78.0%
Don’t know	3.0%
No answer	0.6%

Q4: In the last two or three months, which of the following companies’ personal loan television advertisements have you seen? (Sample size=14,989, multiple answer)

Acom	50.5%
Aiful	49.3%
Lake	43.6%
Promise	41.3%
Mobit	37.0%
Takefuji	30.9%
At Loan	24.5%
DC Cash One	15.9%
Pocket Bank	12.3%
Dick	11.1%
No Loan	6.9%
Unimat Ladies	4.5%
Other	0.9%
Can’t remember (to end of survey)	31.1%
No answer (to end of survey)	0.9%

Q4SQ: Which company’s advertisements left you with the most favourable impression? (Sample size=those having seen advertisements)

Lake	8.9%
Aiful	5.8%
Acom	5.4%
Mobit	5.3%
Promise	4.9%
Takefuji	0.9%
DC Cash One	0.8%
At Loan	0.7%
Dick	0.1%
Pocket Bank	0.1%
No Loan	0.1%
Unimat Ladies	0.1%
Other	0.4%
None of them	66.1%
No answer	0.3%