A growing number of people in Japan are carrying debts from multiple lenders, including consumer finance companies.
According to Japan Credit Information Reference Center, which manages individuals’ credit information, 1.55 million people had three or more unsecured, unguaranteed loans from moneylenders at the end of fiscal 2025, which closed in March this year. It was the highest level in 12 years.
Rising prices may be pushing more people to borrow money to cover their living expenses.
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