Japan's Government Pension Investment Fund, the world's No. 1 manager of retirement savings, doesn't need to adjust its holdings to meet new asset allocation targets announced earlier this month, according to President Takahiro Mitani.
GPIF, which oversaw about 112 trillion yen ($1.15 trillion) at Dec. 31, won't be discussing further changes to its portfolio this year, Mitani said in an interview in Tokyo today. The fund said June 7 it is cutting its target allocation for Japanese government bonds to 60 percent from 67 percent, while the weight of foreign and local shares will rise to 12 percent each, from 9 percent and 11 percent respectively.
The GPIF, which didn't alter the structure of its holdings during the worst global financial crisis in 80 years or in response to Japan's 2011 earthquake and nuclear disaster, is making changes as Prime Minister Shinzo Abe and the central bank pledge to achieve 2 percent inflation in two years, which will erode the value of domestic bond holdings. The target allocations announced this month are close to what the fund already holds, Mitani said.
Japan's parliament enacted Tuesday a bill aimed at merging some constituencies for the first time in a bid to reduce vote-value disparities in the electoral system for the House of Councillors, the upper chamber. (Jiji Press)
The operator of the disaster-hit Fukushima Daiichi nuclear plant began Tuesday dismantling the cover shrouding the No. 1 reactor building, installed in the wake of the 2011 disaster to keep radioactive materials from dispersing. (Kyodo)
The pilot of a light plane that crashed into a residential area in the Tokyo suburb of Chofu on Sunday had run a pilot training firm without permission from the transport ministry, it was learned Monday. (Jiji Press)
An investigation report from a middle school in Iwate Prefecture acknowledged on Sunday that bullying is considered to have partly contributed to the suicide of a 13-year-old male student at the school earlier this month. (The Japan News)
Wakayama Prefectural Police on Saturday arrested a 64-year-old man from Osaka after the body of a woman was found in a car parked in front of a love hotel in Gobo City, reports the Asahi Shimbun (July 26). (Tokyo Reporter)
Out of nearly 6,000 applicants, 22 young women and girls emerged from the final stage of highly competitive auditions on July 25 to be the first-generation members of idol group NGT48, based in Niigata Prefecture. (Asahi)
A tooth was found inside a dish served to a customer at the restaurant inside the Prince Hotel located in Tokyo's Shinjuku district. The hotel released a statement Friday saying that an investigation is being conducted into the incident. (Japan Today)
Tokyo Metropolitan Police on Friday announced the arrest of an organized crime member for riding atop a portable shrine at a festival in the Asakusa district, reports TV Asahi (July 24). (Tokyo Reporter)
The polarization between weakening and steady yakuza organized crime syndicates is growing in Japan on the back of the widening rich-poor gap among them and the aging of their members, the National Police Agency said in an annual report on Friday. (Jiji Press)
It doesn't take much to set Noel Gallagher off. We are sat in a backstage portacabin at London's peculiarly ragbag Clapham Calling festival, and I've just mentioned to the former Oasis songwriter that "Chasing Yesterday," the second solo album under his High Flying Birds banner, is the U.K.'s fastest selling of the year. (Japan Times)