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.
An independent judicial panel of citizens said Thursday it has decided that three former executives of Tokyo Electric Power Co. merit indictment over the 2011 nuclear disaster at the Fukushima Daiichi power plant. (Kyodo)
Osaka police said Wednesday they failed to report roughly 81,000 criminal cases to the National Police Agency between 2008 and 2012, or nearly 10 percent of the total reported by the prefectural police force during the five-year period. (Kyodo)
This week the annual charity event known as the Sumo Run took place in London's Battersea Park. To raise money for education in sub-Saharan Africa, participants don inflatable sumo suits and run the 5km course around the park, no doubt delighting passersby in the country that gave us Monty Python. (rocketnews24.com)
On July 16, Kanagawa Prefectural Police arrested Koichi Yokoyama, a former Liberal Democratic Party member of the Kanagawa Prefectural Assembly, for allegedly possessing stimulant drugs at his apartment in Yokohama last month. (Tokyo Reporter)
Police in Japan say that a 16-year-old girl has admitted to slaying her classmate because she "wanted to kill someone" and "dissect" the body, according to Japanese news agency Kyodo News. (huffingtonpost.com)
Golden-gai, a warren of tiny bars near Shinjuku's Kabukicho entertainment district, has long been a refuge for writers, musicians, filmmakers and other artistic types, who congregate at drinking establishments with like-minded patrons. (Japan Times)
On July 7, Tokyo Metropolitan Police arrested 30-year-old Ikki Jin for allegedly slipping a sleeping powder into an alcoholic drink consumed by a 23-year-old male and robbing him of a total of 350,000 yen in cash and valuables in February. (Tokyo Reporter)