Japan's Nippon Life to buy nursing care provider parent Nichii for $1.4b

Japan's Nippon Life to buy nursing care provider parent Nichii for $1.4b

A man walks past a logo of Japanese life insurer Nippon Life at the company's headquarters in Tokyo April 21, 2011. REUTERS/Yuriko Nakao

Nippon Life Insurance plans to acquire Nichii Holdings, owner of Nichigakkan, Japan’s largest nursing care provider, for about 210 billion yen ($1.4 billion), Nikkei has learned.

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