Palantir Technologies Expands Japan Business with New $22.5 Million

(BUSINESS WIRE)

Palantir Technologies Inc. (NYSE:PLTR) announced today that on December 28, 2020, it was awarded a $22.5 million, one-year contract in partnership with SOMPO Holdings for the “Real Data Platform for Security, Health, and Wellbeing”.

SOMPO’s visionary Real Data Platform, or “RDP” is a collaborative ecosystem between public and private sectors that will improve healthcare in Japan, streamline supply chains across industries, and increase security and resilience in the region.

In November 2019, SOMPO and Palantir jointly established Palantir Technologies Japan K.K., a technology company that would provide Palantir’s platforms and services in Japan. Already, Palantir Japan has actively supported elder care transformation, with active work across dozens of facilities to make care plans more efficient and effective and improve facility operations.

SOMPO’s RDP objectives will accelerate the digital transformation of Japanese commercial and governmental institutions, and create connected infrastructure across key industries.

Japanese industries, ranging from healthcare to automotive to manufacturing, have generated a tremendous amount of “real data” over the past few decades. For example, Japan alone has more than 60,000 elder care facilities, each generating real data from suppliers, facilities, care plans, training programs, and more.

The RDP, with SOMPO at the forefront, will serve as the connected infrastructure for this and other industries, including logistics, transportation, research, and government agencies.

Further updates on the RDP will be provided in a forthcoming joint press release between SOMPO and Palantir.

About Palantir Technologies Inc.

Palantir Technologies is a software company that builds enterprise data platforms for use by organizations with complex and sensitive data environments. From building safer cars and planes, to discovering new drugs and combating terrorism, Palantir helps customers across the public, private, and nonprofit sectors transform the way they use their data.

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