April 19, 2012

CHINA: Secom to build luxury nursing homes for elderly in China

OSAKA, Japan / The Daily Yomiuri / Business / April 19, 2012

Jiji Press

Major Japanese security company Secom Co. said Wednesday it will launch a luxury nursing home business in China in partnership with a local real estate developer.

Secom Medical System Co., a Secom subsidiary, will set up a joint venture with Shanghai Lujiazui Finance & Trade Zone Development Co. The business will operate from 2015 in Shanghai, which has a large population of elderly people.

It will be the first elderly care facility operated by Secom in China.

Secom intends to create similar facilities in 18 Chinese cities, including Beijing and Guangzhou, where the company operates a security business for corporate clients.

The new company will be established with capital ranging from 100 million yen to 2 billion yen, of which at least 70 percent will be shouldered by Secom Medical System and the rest by the Shanghai-based partner.

© The Yomiuri Shimbun.
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