Nippon Life, Japan’s largest life insurer, plans to allocate approximately 2 trillion yen ($13 billion) to US data center project financing. The insurer will provide project finance rather than purchasing data centers outright, with projected average returns exceeding 2%, significantly outpacing comparable domestic Japanese investments. Its overseas project finance portfolio already grew by 11% in fiscal 2025 to reach approximately 1 trillion yen ($6.8 billion). The new $13 billion target aims to double its total project finance balance to 2 trillion yen by fiscal 2035. Global data center IT capacity surged 8.6% in the first half of 2025, with approximately 70% of that growth occurring in the US.
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