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 amount of money stolen through special frauds, such as "It's me" scams, totaled 49,873 million yen during the 11 months through November, far over the full-year record of 48.9 billion yen logged last year, the Japanese police said Monday. (Jiji Press)
Supermarkets in Japan have been rationing butter since spring because of a shortfall in raw milk production. Now, there's concern there won't be enough for the crucial holiday baking season. (usatoday.com)
East Japan Railway Co. (JR East) announced Monday that the company will reprint Suica electronic cards commemorating Tokyo Station's 100th anniversary so that there will be enough cards for everyone who wants to buy them. (The Japan News)
Women have been prohibited from doing certain things (entering places, using facilities, etc.) for as long as civilization has existed. Restrictions are still common, albeit usually in religious contexts only. While religions themselves evolve and change with the times and bans are lifted, it doesn't mean all of them get an update. (rocketnews24.com)
Christmas Eve surpasses Valentine's Day as the romantic dinner event for Japanese couples, but viewed as a socioeconomic read on Japan, the celebration highlights two major problems the country faces: low wages and low birth rates. (cnbc.com)
A man found a body Sunday evening in the Atsugi, Kanagawa Prefecture, apartment of his younger, 58-year-old brother after the landlord alerted him that his sibling had failed to pay the rent. (Japan Times)
Sales of special Suica cards to commemorate the 100th anniversary of the opening of Tokyo Station were canceled soon after they began Saturday, as a large crowd of people flooded the area. (The Japan News)
The Niigata prefectural government started clearing a section of National Highway Route 405 in Tsunan in the prefecture on Friday, after a landslide mixed with snow blocked off about 50 meters of the road the night before. (The Japan News)