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.
We've all had bosses we didn't like for one reason or another. But no matter how much you might hate your boss, you'll probably feel a bit better towards him or her after reading about this 28-year-old who was viciously assaulted by his boss after arriving late to work. (rocketnews24.com)
A total of six ruling and opposition parties resubmitted to the House of Representatives a bill to revise the Public Offices Election Law and to lower the voting age to 18 or older from the current 20 or older. The bill is highly likely to pass at the current Diet session. (The Japan News)
The popular "pear fairy" cartoon mascot Funassyi held its first press conference with the foreign media in Tokyo on Thursday, saying its unlikely path to success is a symbol of the country's admiration of perseverance in the face of adversity. (Japan Times)
Wakayama Prefectural Police on Wednesday arrested an Italian male after he allegedly kissed a woman with whom he was unacquainted inside a train in Gobo City. The suspect is believed to have also been involved in a series of similar incidents, reports the Asahi Shimbun (Tokyo Reporter)
One of the two 17-year-olds arrested over the killing of a 13-year-old boy last month along the Tama River in Kawasaki has admitted to harming the victim but said he was only following the orders of an older teenager also in custody, investigative sources said Thursday. (Japan Times)
One of the things that makes Japan such a compelling place is the country's long cultural history. The upkeep of centuries-old buildings can be extremely expensive, however, especially since traditional Japanese architecture is mainly wood, reed, and paper, which aren't exactly the sturdiest building materials. (rocketnews24.com)
A total of 706 incidents linked to "dangerous," or quasi-legal, drugs were detected by police in Japan in 2014, up 5.6-fold from the preceding year, the National Police Agency said Thursday. (Jiji Press)
A report released Wednesday by the International Narcotics Control Board revealed that Mexican drug cartels have extended their reach to Japan, where methamphetamine seizures have doubled compared to the previous year. (UPI)
Japan's idol world is quite…expansive, for lack of a better word. Even with the wide variety of groups running around, it can be hard to really tell them apart-though we have to say there was no mistaking Osaka's Obachaaan for any other group. (rocketnews24.com)