Strategy

With the aim of achieving the SOMPO’s Purpose, we are currently implementing the three core strategies outlined in the Mid-Term Management Plan that kicked off in FY2021.

In addition to advancing our “Scale & Diversification” strategy sucha as chalking up topline growth of more than 10% annually and expanding the profit weighting of the Overseas Insurance and Reinsurance Business, we have also made steady progress on the core strategy of “New Customer Value Creation.” For example, we launched the “egaku” Nursing Care RDP project and acquired ND Software, a company that boasts the leading share of the nursing care software market.

For the “New Work Style,” we went about implementing what we call “Purpose Management” based on the My Purpose approach of each and every employee, and we undertook various initiatives aimed at improving human capital as the driving force of SOMPO’s Unique Value Creation.

For FY2023, the final year of the plan, even though we expect to reach our adjusted consolidated ROE target of at least 10%, we are forecasting adjusted consolidated profit of ¥280 billion, which mainly reflects the impacts of increasingly intense natural disasters, global price inflation, and the COVID-19 pandemic.

Taking the challenging external environment into account, we will continue to work towards generating further growth and achieving SOMPO’s Purpose by not only completing our current initiatives, but also by initiating and executing measures to boost profitability over the medium term.