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.
Japanese Prime Minister Shinzo Abe on Sunday called the killing of a Japanese captive by Islamic State militants "outrageous" and again demanded the group release a second Japanese national they are holding. (Reuters)
With his record-setting 33rd Emperor's Cup already in the bag, yokozuna Hakuho added a perfect 15-0 finish to his accomplishments on the final day of the New Year Grand Sumo Tournament at Tokyo's Ryogoku Kokugikan on Jan. 25. (Asahi)
The government is aiming to expand the domestic robot market to ¥2.4 trillion by 2020, four times its current size of ¥600 billion, by increasing opportunities to use robots in nursing care and other fields, according to sources. (The Japan News)
A former senior Aum Supreme Truth cult member on death row testified about how the cult's leader ordered his followers to commit a series of deadly crimes, at the trial of a fellow former member at the Tokyo District Court on Friday. (The Japan News)
The former AKB48 idol Anna Mori is crowdfunding her first photobook after recently turning 20 years old (the "age of majority" in Japan, similar to turning 18 in the U.S.) and quickly raised 2,000,000 yen (about US$16,957) with a little help from some unique backer rewards. Mori offered threedates for backers who paid 200,000 yen (US$1,695).
A former senior Aum Supreme Truth cult member on death row claimed responsibility for a fellow former member's involvement in a series of Aum-committed deadly crimes, in a trial at Tokyo District Court on Wednesday. (The Japan News)
A Syrian man says he recalls speaking with the Japanese journalist held captive by the militant group believed to be Islamic State. He says Kenji Goto told him he was planning to look for the other Japanese hostage. (NHK)