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.
Tokyo labor regulators sent their investigation papers on footwear retailer ABC-Mart Inc. <2670> to prosecutors on Thursday, accusing the company of having forced employees to work illegally long overtime hours. (Jiji Press)
Reigning champions Japan will meet the United States in the Women's World Cup final for the second tournament in a row after a 2-1 defeat of England on Wednesday, victory coming after a cruel and unlucky injury-time own goal from Laura Bassett. (Kyodo)
The nation's population stood at 126,163,576 as of Jan. 1 this year, down 271,058, or 0.21 percent, from a year before, marking the steepest fall ever, a government survey said Wednesday. (The Japan News)
Police in Kanagawa Prefecture have arrested a 23-year-old man on suspicion of stealing a bag belonging to the director-general of the Civil Aviation Bureau, while he was on a train last month. The bag contained a tablet computer which contained confidential information as well as a contact list for emergencies. (Japan Today)
A 71-year-old man who set himself on fire on a shinkansen bullet train Tuesday had repeatedly complained that the pension he received was not enough to live on, one of his neighbors said Wednesday. (Kyodo)
Tokyo Metropolitan Police last week confirmed that a body discovered buried in a cemetery in Kanagawa Prefecture is that of a 25-year-old woman who went missing two years ago. Police are now attempting to locate her son, reports the Sankei Shimbun (June 26). (Tokyo Reporter)