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.
The International Whaling Commission adopted a resolution Thursday calling for tightening its screening of research whaling programs, as Japan hopes to resume hunting for scientific purposes in the Antarctic Ocean under a new program. (Jiji Press)
The average price of residential land in Japan's three metropolitan areas in and around Tokyo, Osaka and Nagoya as of July 1 rose from a year before, up for the first time in six years, the land ministry said in an annual report Thursday. (Jiji Press)
A 61-year-old truck driver has been arrested after he hit a group of elementary school children in Setagaya Ward, Tokyo, killing one 9-year-old girl and injuring two other children, aged 8 and 9. (Japan Today)
Following the bust of a shopping site selling shoes containing a miniature camera used to take illicit photographs, Kyoto Prefectural Police are now seeking the return of the merchandise from customers, it was revealed on Tuesday, reports the Mainichi Shimbun (Sept. 17). (Tokyo Reporter)
Japanese Emperor Akihito and Empress Michiko may visit Palau next year, the 70th anniversary of the end of World War II, to pay their respects to Japan's war dead, Chief Cabinet Secretary Yoshihide Suga said Tuesday. (Jiji Press)
A car was partially buried due to small mudslide and three people sustained injuries after a magnitude-5.6 quake hit a wide area of Kanto region in Japan around noon on Tuesday, according to local report. (shanghaidaily.com)
The government had lifted a vehicle ban on National Route 6 through the area where residency is restricted due to the crippled Fukushima No. 1 plant, the first time that stretch of highway has been open to automobiles since the nuclear crisis began in March 2011. (Japan Times)