Yamashita, Provider of Nursing Care Product Rentals, Launches Wholesale Business for Nursing Care Products in Rapidly Aging South Korea
TOKYO--(BUSINESS WIRE)-- YAMASHITA, LTD. (Head office: Shimada City, Shizuoka Prefecture; President and CEO: Kazuhiro Yamashita; "Yamashita"), a provider of rental services for nursing care and welfare equipment, will acquire shares of YAMASHITA SAMJUNG Co., Ltd., a subsidiary of SAM JUNG HUMAN SERVER, LTD. (Head office: President and CEO: Myeong-ja Lee; URL: https://humanserver.kr/; "Human Server"), which sells and manufactures nursing care products in South Korea, effective Friday, April 4, 2025. Starting in Mid April 2025, Yamashita will begin a wholesale business for nursing care products targeting nursing care rental providers in South Korea. Following its 2020 expansion into China, this marks the Company's second overseas venture.
The elderly population is rapidly increasing in South Korea, projected to have the highest aging rate in Asia by 2045
South Korea is undergoing rapid population aging, and by 2045, it is expected to surpass Japan to have the highest elderly population proportion (aged 65 and older) in Asia. (Source: Cabinet Office, "2024 Annual Report on the Aging Society")
As this rapid aging progresses, the number of welfare equipment rental cases has increased yearly from 2010 to 2023, and demand for nursing care product rentals continues to grow. The care product rental market is expected to keep expanding through 2040.
Yamashita and Human Server conducted interviews with nursing care rental providers in South Korea. They discovered there existed challenges with product quality, and it became clear that users were seeking improved functionality and quality. To meet these needs, Yamashita, which has a proven track record in Japan, will launch a wholesale business starting in Mid April 2025 to supply overseas-manufactured products, including those from Japan, suitable for rental use to Korean nursing care rental providers.
Business overview and future outlook
Going forward, YAMASHITA SAMJUNG Co., Ltd. will utilize Human Server's sales network for nursing care product distribution to wholesale high-quality overseas care products to local rental providers, aiming to expand their presence in South Korea. Following the spread of the wholesale business, they also plan to enter the rental and nursing care education sectors.
(Overview of YAMASHITA SAMJUNG Co., Ltd.)
Company name: YAMASHITA SAMJUNG Co., Ltd.
Location: 50-5, Goejeong-dong, Saha-gu, Busan
Established: October 23, 2023
Representative: Kazuhiro Yamashita, President and CEO
Business activities: Wholesale of nursing care products
Ownership ratio: Yamashita: 67.1%, Human Server: 32.9%
About YAMASHITA, LTD.
Since 1986, before the implementation of Japan's long-term care insurance system, Yamashita has worked to address social issues in Japan by promoting the use of rental services for home care products.
In 2020, the Company established Shanxia-Fuzhi (Shanghai) Health Care Co., Ltd., a Sino-Japanese joint venture company in Shanghai, China. Since August 2023, it has expanded its business in China for care product rentals and home care remodeling services, including launching a test operation in Tianjin.
(Company Overview)
Location: Head Office: 737 Nakagawa, Shimada-shi, Shizuoka
Tokyo Headquarters: 8F, Shinagawa Intercity Building C, 2-15-3 Konan, Minato-ku, Tokyo
Established: March 6, 1963
Representative: Kazuhiro Yamashita, President and CEO
Business activities: Rental and sale of welfare equipment, in-home care support services, linen supply services, etc.
Sales: ¥30.38 billion (FY ending March 2024)
Number of employees: 2,586 (as of the end of March 2024)
URL: https://www.yco.co.jp/
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