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.
Government figures show a sharp and continuous fall-off in the number of farmers over the past five years that potentially threatens the landscape as its stewards leave the sector and are not replaced. (Japan Times)
Japan plans to boost financial aid to developing countries to help them tackle climate change by providing about ¥1.3 trillion (about $10.6 billion) a year by 2020, Prime Minister Shinzo Abe said on Thursday. (The Japan News)
The Japanese government plans to tighten its energy-efficiency standards for lamps to effectively ban production and imports of fluorescents and incandescents, informed sources said Thursday. (Jiji Press)
No major gangster bloodbath has occurred in the three months since Japan's largest yakuza organization, Yamaguchi-gumi, split into two rival mobs, but to say the sides are living in harmony would be an exaggeration. (Asahi)
A 60-year-old man in Tochigi Prefecture, northeast of Tokyo, who claims to be an exorcist was arrested Thursday on suspicion of killing a diabetic boy by halting the administration of insulin, police said. (Japan Today)
Police and animal protection center officials captured the last of two emus, an ostrich-like bird from Australia, that escaped from a farm in Takasaki, Gunma Prefecture, earlier this month. (Japan Times)
Tokyo Metropolitan Police have arrested the head of an adult video (AV) label specializing in productions featuring gay men for employing an underage male actor, reports Nippon News Network. (Tokyo Reporter)
Fukuoka Prefectural Police on Wednesday will re-arrest an upper-ranking member of the Kudo-kai organized crime group for participation in two arson attacks, reports the Sankei Shimbun. (Tokyo Reporter)