Lotte Group launches healthcare business in Japan

[Courtesy of Lotte Group]

South Korea’s Lotte Group is set to venture into the healthcare sector in Japan, following its initiatives in Korea.

According to sources on Thursday, Japan’s Lotte Holdings Co. established Lotte Medi Palette, a new healthcare-related entity with a capitalization of 100 million yen ($664,632) on February 1.

Lotte Holdings in Japan holds a full stake in the newly formed entity, with Ryosuke Sakai, who oversees digital marketing at Lotte Japan, assuming the position of chief executive officer.

Lotte Medi Palette in Japan aims to provide diverse healthcare-related information and offer services integrated with shopping platforms such as Amazon and Rakuten.

Captured from Lotte Medipalette website

Visitors to the website will receive health-related news, including information on causes and symptoms of anemia, methods to improve hypertension, and more. The platform also introduces related products, with links to shopping malls like Amazon.

Lotte Group initiated its healthcare business in Korea in 2022. Through this venture, the conglomerate sells private label nutritional supplements and integrates sales with its online shopping mall.

Lotte Healthcare has been actively involved in related businesses, launching the personalized health management platform, CAZZLE, last year.

Earlier, Lotte Group Chairman Shin Dong-bin noted that the conglomerate is focusing on four areas, including biotechnology, metaverse, hydrogen energy, and secondary battery materials, as future growth sectors.