Latest news with #SompoHoldings
Business Insider
a day ago
- Business
- Business Insider
Morgan Stanley Remains a Buy on Sompo Holdings (NHOLF)
In a report released yesterday, Mia Nagasaka from Morgan Stanley maintained a Buy rating on Sompo Holdings (NHOLF – Research Report), with a price target of Yen5,570.00. The company's shares closed last Friday at $33.00. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Nagasaka covers the Financial sector, focusing on stocks such as MS&AD Insurance Group Holdings, Chiba Bank, and Dai-ichi Life Holdings. According to TipRanks, Nagasaka has an average return of -0.5% and a 57.14% success rate on recommended stocks. Sompo Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $34.91.
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Business Standard
5 days ago
- Business
- Business Standard
First batch of Indian caregivers head to Japan amid worker shortage woes
The first group of Indian nursing care workers trained by a subsidiary of Japan's Sompo Holdings is set to begin work in Japan next month, Nikkei Asia reported on Wednesday. The initiative is the result of a training partnership between Sompo Care and India's National Skill Development Corporation (NSDC) that helps address Japan's labour shortages and ageing population. In August last year, Sompo Care launched a specialised training centre near New Delhi. The centre offers a nine-month programme that includes Japanese language instruction and practical training using care equipment imported from Japan. The initiative aims to train and deploy 100 Indian caregivers annually, with the objective of hiring 1,000 workers by 2040. In April, the first nine trainees graduated from the programme. Eight passed Japan's 'specified skills' test, qualifying them for residency and employment. They are expected to begin work at care facilities in Japan as early as July. Sompo Care has ensured that the Indian recruits will be paid on par with their Japanese colleagues, adding that those who excel may be promoted to management roles. Sompo Care, which previously hired from Southeast Asia, is now shifting focus to India due to growing competition for talent in the region. India's younger, more abundant workforce—and its high youth unemployment—makes it a promising source for overseas recruitment. Japan: Ageing population, shrinking workforce As Japan grapples with an ageing population and a shrinking workforce, projections suggest a shortfall of around 570,000 nursing care workers by 2040. Japan's ageing population is straining its labour market, forcing reforms to retirement norms. In 2013, Japan amended the Act on Stabilisation of Employment of Elderly Persons (ASEEP), making companies to offer employment until age 65, through raised retirement age, rehiring, or continuous-employment schemes. They are also encouraged to extend opportunities up to age 70. A 2023 survey by the labour ministry found that 42 per cent of companies allow staff to work until 70 or beyond, more than double the percentage from ten years earlier. In 2024, 5.4 million people aged 70 or older were still employed, a 70 per cent increase since 2014. Labour shortages are especially severe in sectors like nursing care and construction, where older workers make up a growing share of the workforce. People aged 65 and above now account for 14 per cent of all workers in Japan, and up to 17 per cent in the hardest-hit industries.
Nikkei Asia
5 days ago
- Business
- Nikkei Asia
Indian nursing care workers trained by Sompo head to Japan
MUMBAI -- The first group of Indian nursing care workers trained by a unit of Japanese insurer Sompo Holdings will head to Japan in July, providing relief to an industry hammered by a worsening labor crunch. Sompo Care opened a training center near New Delhi last August in cooperation with India's National Skill Development Corp. Nursing care equipment was brought in from Japan for the nine-month training program, which also includes Japanese language lessons.
Bloomberg
20-05-2025
- Business
- Bloomberg
Japan's Big Non-Life Insurers Plan to Sell Cross Shareholdings
Japan's three major casualty insurers plan to sell a total of about ¥1.37 trillion ($9.5 billion) of cross-held shares in the fiscal year started April in a push to reduce strategic holdings in line with government policy. Tokio Marine Holdings Inc. plans to sell plans to sell ¥600 billion of shares, MS&AD Insurance Group Holdings Inc. aims to offload ¥573 billion and Sompo Holdings Inc. targets ¥200 billion, according company announcements on Tuesday.
Japan Times
16-05-2025
- Business
- Japan Times
Nippon Life to stop sending staff to sales departments at banks
Nippon Life Insurance will discontinue the practice of temporarily sending employees to work in the sales departments of other firms such as banks, judging that the arrangements may distort fair competition. What are known as secondment agreements with major banks and regional lenders have allowed Japanese insurers to dispatch staff to financial firms, where they can sell the companies' insurance products. But critics have said the practice has led to misconduct, in addition to reducing competition. Nippon Life now has 51 employees working at other firms including banks, and it plans to negotiate with those companies about removing the workers from those arrangements or reassigning them to departments other than sales, a company spokesperson said. An example of the troubles that can result from these deals can be seen in the case of used-car dealership Bigmotor. The company admitted in 2023 to deliberately damaging vehicles and padding insurance claims. Japan's Financial Services Agency issued a business improvement order to Sompo Holdings and its Japanese insurance unit for their involvement in fraudulent claims by Bigmotor. Japan's policymakers have been pushing companies to make their operations more transparent and to try to increase shareholder returns. The corporate sector has also faced pressure to sell off cross-held stocks, often of allied firms, that were ubiquitous in the past in Japan's market, limiting the amount of shares available for investors. Other measures are being considered to crack down on inappropriate secondment agreements, with the General Insurance Association of Japan, a property and casualty insurance industry group, releasing guidelines in September 2024 prohibiting such staff moves for sales. The FSA has also indicated its intention to strengthen supervision in this area for the entire insurance sector.
