Most common reasons for applying for loans from money lenders in Japan 2023

Published by Statista Research Department, Nov 7, 2023

In a survey conducted in July 2023, around 34.3 percent of the respondents in Japan stated that they borrowed money from money lending business operators to spend it on hobbies and amusement. Around one in five respondents intended to spend borrowed money on food at the time of applying for a loan.

Reasons for borrowing at the time of applying for a loan from money lending business operators in Japan as of July 2023

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Release date

October 2023

Region

Japan

Survey time period

July 12 to 31, 2023

Number of respondents

2,000*

Age group

18 years or older

Special properties

mobile survey via smartphones, etc.; among consumers who have borrowed from money lending business operators in the past; multiple answers possible

Supplementary notes

*1,000 persons who have outstanding loans from finance companies** and 1,000 persons who have no outstanding loans from finance companies***.

**Individuals who currently have outstanding loans from consumer finance companies, credit card companies and consumer credit companies, and business finance companies.
***Individuals who have borrowed from consumer finance companies, credit card companies and consumer credit companies, and business finance companies in the past and have no outstanding loans at present.

The gender and age distribution of the sample of 2,000 persons is based on statistical data from Japan Credit Information Reference Center Corp as of March 2022.

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