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.
UNESCO on Saturday added Chinese documents on the Nanjing Massacre to the "Memory of the World" program, drawing an immediate protest from the Japanese government questioning whether the U.N. body was "neutral and fair" in registering them. (Kyodo)
UNESCO announced Saturday that it has added two items recommended by Japan, including Return to Maizuru Port, or documents related to Japanese troops and civilians who were interned in labor camps in Siberia after the end of World War II, to its Memory of the World Register. (Jiji Press)
Tokyo police found there were at least 10 suspicious phone calls in the Japanese capital linked to the My Number 12-digit identification number system for social security and tax this month, it was learned Thursday. (The Japan News)
Child welfare authorities dealt with nearly 90,000 child abuse cases in the fiscal year ending March, a government survey showed Thursday, with experts blaming the record-high figure on increased poverty and the isolation of some families. (Japan Times)
Nagano Prefectural Police announced on Wednesday that a member of a newly formed organized crime group who had been shot at a hot springs resort in Iida City has died, reports TV Asahi (Oct. 7). (Tokyo Reporter)
Niigata Prefectural Police on Tuesday raided headquarters of the troubled Yamaguchi-gumi organized crime group as a part of an investigation into a baseball gambling case, reports the Sankei Shimbun (Oct. 6). (Tokyo Reporter)