Although asset-based lending (ABL) is nothing new in the West, for Asian markets such as Japan, where most local lenders still prefer companies to pledge with their hard assets such as properties or equipment for corporate lending, the New York-listed data firm’s ABL with its Japanese subsidiary’s accounts receivables (AR) and inventory has signalled a new trend: more US-headquartered, mid-sized multinationals are keen to explore new borrowing capacity locally with their Asia-based assets.