As the government is preparing to introduce a new insurance system to deal with Japan's rapidly aging population, major companies are gearing up to partake in the potentially lucrative market of caring for the elderly.
The nursing care insurance system for the elderly, to be launched Saturday, will allow the private sector to enter the estimated 5 trillion yen market in fiscal 2000.
To date, the private sector has not been allowed to enter the nursing care market, with the exception that the government allows municipalities to commission companies to provide nursing care services.