Japan's Nippon Life Insurance to invest 2 trillion yen in US data center projects

Japan's Nippon Life Insurance announced plans to invest 2 trillion yen (about $12.75 billion) in infrastructure financing, including US data centers, as reported by Nikkei Asia on September 20, 2026. The investment will use project finance, where loans are repaid from project cash flows. The insurer sees US investments offering attractive spreads over 2% and diversification benefits. Nippon Life also considers data center loans in Japan by fiscal 2026, aiming to double its balance to 2 trillion yen by fiscal 2035. The report could not be immediately verified.