J-Star backs Japan medical insurer
Japanese mid-market GP J-Star has invested an undisclosed sum in Nihon Hoken Service (NHS), a Tokyo-based insurance agency and insurance solicitation business.
The company focuses on so-called third sector insurance, which includes health, cancer and long-term care cover. According to a release, third sector insurance is expected to see stable growth as a result of Japan's aging population.
The investment also comes against a backdrop of tighter rules being imposed on agents in the wake of the Insurance Business Act, which requires insurance companies to have a stricter controls in place. J-Star says it intends to improve NHS' "compliance and organizational structure" as part of its efforts to build a long-term business plan for the company.
This is J-Star's second demographic play in the just over six months, In November, it acquired two elderly care providers - Nagoya-headquartered Nurse Call and Kanagawa-based Kairos & Company - with plans to merge the two. The deal came within two weeks of J-Star's 5x exit from similar business HCM Corporation.
The latest investment comes from J-Star No.2 Investment, a (JPY20.4 billion) $205 million vehicle which reached a final close in 2013. This is the fund's sixth transaction. Others include a JPY1-2 billion investment in auto parts firm Tokai Trim, made alongside Supply Chain Support Fund, and the acquisition of a 66% stake in image processing firm Primagest.
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