Sompo launches business development hub

Sompo Holdings  has established a new Business Development Department to accelerate group-wide growth investments, with a focus on launching socially impactful businesses and managing venture capital activity—primarily in Japan.

The new hub, headed by Senior EVP Koichi Narasaki, will serve as a central engine for innovation and investment across Sompo, all in support of the Group’s ambitious 2030 targets: ¥6 trillion in market cap and ¥500 billion in adjusted profit.

“We are actively pursuing a broad spectrum of growth opportunities across all facets of the business as we target a market capitalization of JPY6 trillion and adjusted consolidated profits at the level of JPY500 billion by 2030. While each business line has its own growth investment team and Sompo Holdings pursues potential merger and acquisition targets through its Investment Strategy Department, the new Business Development Department will enable a more agile and dynamic execution of growth investment opportunities without being bound by other investment timescales and existing business frameworks.” – Group CEO, Mikio Okumura.