Mitsubishi Corporation (MC) is pleased to announce that it has reached an agreement with Sohgo Security Services Co., Ltd. (ALSOK) to form a capital and business alliance in the fields of long-term care and assisted living for senior citizens. MC subsidiary Nippon Care Supply Co., Ltd. (NCS) is also considering joining the alliance, and its inclusion is expected to be confirmed once the decision by its management team has been made.
Under the terms of the agreement, ALSOK shall acquire a 32% stake in NCS from MC. Both ALSOK and MC plan to leverage this alliance to provide more extensive, higher quality services to both long-term care providers and seniors who are in need of long-term care and assisted living.
Japan is an aging country, and its seniors (those aged 65 and older) now account for almost 30% of its general population. While the number of those requiring long-term care is also rising, Japan’s ability to meet those needs has been hampered by a shortage of qualified care givers, insufficient reach of the services that are available, and other problems. New mechanisms are needed if Japan hopes to provide seniors with a safe and secure quality of life regardless of where they live.
By bringing together a wealth of know-how, expertise and networks that the partners have accumulated through their respective businesses, this alliance promises to help deliver those mechanisms and ensure that Japan’s citizens can continue to enjoy daily care, comforts and conveniences during their later years.
The alliance has three main objectives: (1) To grow existing operations that already make use of the partners’ respective sales networks; (2) To enhance the partners’ products and services in security, long-term care and assisted living by tapping into their respective customer bases (for example, providing ALSOK’s monitoring service for seniors to MC Group customers); and (3) To launch new joint businesses.
By combining ALSOK’s know-how in safety and security with MC’s collective capabilities, this alliance will provide comprehensive living support for seniors and other recipients of long-term care, thereby helping to address a serious issue in Japanese society.
Sohgo Security Services Co., Ltd. (ALSOK)
Head Office : 1-6-6, Motoakasaka, Minato-ku, Tokyo
Year of Establishment : 1965
President and COO : Yukiyasu Aoyama
ALSOK provides an extensive range of top-class security services through a nationwide network of 2,400 offices. Its on-site services are available 24 hours a day, 365 days a year and include electronic, stationed, and transportation security, as well as general property management and fire protection. By branching into other areas like facility construction, disaster mitigation and high-synergy, long-term care work, ALSOK is leveraging its security network to diversify its operations in ways that bring safety and peace of mind to both its customers and society at large.
Mitsubishi Corporation (MC)
Head Office : 2-3-1 Marunouchi, Chiyoda-ku, Tokyo
Year of Establishment : 1954
President and CEO : Takehiko Kakiuchi
MC engages in a wide range of business spanning multiple industries and overseen by its 10 Business Groups. These include Natural Gas, Industrial Materials, Petroleum & Chemicals, Mineral Resources, Industrial Infrastructure, Automotive & Mobility, Food Industry, Consumer Industry, Power Solution and Urban Development.
Nippon Care Supply Co., Ltd. (NCS)
Head Office : 1-1-30, Shibadaimon, Minato-ku, Tokyo
Year of Establishment : 1998
President and CIO : Toshiya Takasaki
NCS is engaged in the rental and wholesale of long-term care equipment to Japan’s designated in-home care providers, its objective being to help develop the country’s foundation of in-home care services under the national long-term care insurance system. NCS also offers meal services to long-term care providers as a means of supporting assisted living for seniors.