Sompo HD Books 86b Yen Gain on Palantir Stake Sale, Nikkei Says

Sompo Holdings’s 86b yen one-time gain announced Wed. was from the sale of shares in Palantir Technologies, Nikkei reports, citing the Japanese insurer.

• Considers using the proceeds for growth, including investments into R&D and M&As, and for shareholder returns
• SMBC Nikko analyst Masao Muraki writes in note dated Wed. Sompo is believed have sold roughly half of its Palantir stake
• NOTE: Sompo in 2020 invested $500m in Palantir

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Go Onomitsu in Tokyo at gonomitsu@bloomberg.net

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Yusuke Miyazawa at ymiyazawa3@bloomberg.net

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