Nippon Life acquired a nursing care group: Report

The acquisition is worth $1.43b.

Nippon Life Insurance has announced its agreement to acquire a nursing care group worth $1.43b, reported the Jiji Press.

Nippon Life will acquire Nichii Holdings, the parent company of Nichiigakkan, a Japanese nursing care provider. 

READ MORE: Nippon Life Announces Acquisition of Nursing Care Group

his move reflects the major Japanese life insurer's entry into the nursing care business, aiming to enhance its profitability in response to the growing demand driven by the ageing population in Japan.