25 Jan Japan investments in Australia: Further Diversification
Nippon Life acquired 80% of NAB’s life insurance unit at the end of 2015. As NAB released: “On 28 October 2015, NAB announced it has entered into an agreement to sell 80% of NAB Wealth’s life insurance business to Nippon Life Insurance Company for $2.4 billion, while NAB will retain the remaining 20%. As part of the agreement, NAB will enter into a 20 year distribution agreement to provide life insurance products through its owned and aligned distribution networks.”
This acquisition comes hard on the heels of Nippon Life’s acquisition in Japan of Mitsui Life Insurance [Japanese only].
Food industry: There have been press reports suggesting that Japanese snack food maker Calbee is going to push ahead with its previously announced phase 2 global strategy business plan which might include expansion into the Australian market. Calbee has over 50% market share of Japanese domestic snack food market.