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Sompo Japan Insurance, OMRON Healthcare Finalize Contract for New Joint Venture to Be Established in October.

Tokyo, Japan, Sept 15, 2005 - (JCNN) - Sompo Japan Insurance (Sompo Japan) has reached a final agreement with Omron Healthcare for a joint venture, which is to be established as of October 1. The new company. named Healthcare Frontier Japan, will be headquartered in Tokyo and provide services for health promotion and disease prevention.

Sompo Japan will invest 650 million yen ($6 mil) in the new company while Omron Healthcare will contribute 400 million yen ($3.5 mil). In addition, the two companies and NTT Data have reached a basic agreement whereby NTT Data will invest 50 million yen ($450,000) by year-end.

Accordingly, Healthcare Frontier Japan will be owned 59.1% by Sompo Japan, 36.4% by Omron Healthcare and 4.5% by NTT Data.

Source: JCN

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Publication:JCNN News Summaries
Date:Sep 16, 2005
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