News Asia05 Jun 2025

Japan:Sompo submits business improvement plan to regulator

| 05 Jun 2025

Sompo Japan Insurance has submitted its business improvement plan to the Financial Services Agency (FSA) in accordance with the order issued in March 2025, regarding the leakage of customer information.

“We sincerely apologise for any inconvenience and concern caused to our customers and all other stakeholders,” said Sompo Japan Insurance in a press statement.

“We formulated additional, more fundamental recurrence prevention measures than the business improvement plans that had been underway, to restore trust through re-emphasising compliance with laws and regulations as well as customer protection.”

Sompo Japan Insurance first issued a news release on this matter in May 2024, and received a report demand order from the FSA in July 2024. It submitted a report on the facts and recurrence prevention measures in August 2024.

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