Business

The number of elderly people requiring nursing care is increasing with the rapid aging of the population, and it is expected that the domestic nursing care market will continue to grow. However, there is still a shortage of care workers at nursing care sites. Sompo Care, Inc. has a new slogan – Change the future of nursing care – and is promoting efforts in three directions to respond to these social issues and changes in the market environment: expansion of existing business areas, creation of new value, and increasing innovation based on the My Purpose concept. By doing so, we can contribute to the construction of a sustainable social security system, and contribute to the realization of SOMPO’s Purpose: to become a theme park for security, health, and well-being, and thereby build a society where everyone can live a healthy and prosperous life in line with their own personal wants and needs.

The Mid-Term Management Plan has taken the first steps towards realizing Sompo’s purpose with the construction of the first new building since the launch of Sompo Care, the implementation of M&A, challenges for creating new value through nursing care RDP and others, and the improved treatment of the care workers who are the backbone of these efforts. We will further accelerate our efforts by the end of FY 2023, refining SOMPO’s expertise and services, and taking on the challenge of building a system that will deliver those services to the industry.

We are building a nursing care model for the future using the safe, high-quality technologies verified by the Future Care Lab in Japan, and advances in scientific nursing care harnessing real data. In this way, we will increase our abilities to provide nursing services by improving working conditions such that we can secure skilled personnel. We will harness our high supply capacity to support the expanding demand for nursing care through our own corporate growth, by effectively combining internal development and strategic M&A to build a full line-up of services ranging from in-home care to facility care. We have made steady progress, with the deployment of our future nursing care model in 25 Sompo Care facilities in fiscal 2021, the opening of a new building in April 2022, and the acquisition of Nexus Care.

Strategies for New Value Creation

Through our nursing care RDP and solutions business, we will build an ecosystem that helps sustain the entire industry and support more seniors by providing SOMPO’s real data and services to nursing care providers and partners in adjacent industries.

We are not only supporting seniors in nursing care, but also contribute to realizing a society where elderly people can live their own prosperous lives the way they want, with dementia support programs and smart community operations as our services for seniors before they need nursing care, and take on the challenge of helping people live longer healthy lives while keeping social security costs down.

Our solutions business was deployed to more than 500 nursing care facilities in fiscal 2021, and proposals are underway to implement nursing care RDP in some Sompo Care facilities and at partner companies. We are also striving to create new value for society with trials of dementia prevention programs, and collaborations with local governments such as the city of Aizuwakamatsu to build smart communities.