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.
The assembly of Tokyo's Shibuya Ward is expected to pass an ordinance next week acknowledging same-sex partnerships as equivalent to marriage, after a bill for the ordinance was approved at a committee meeting Thursday. (Jiji Press)
Lee Dong Cheol, 61, and an employee of his trading firm were arrested by the Kyoto, Kanagawa, Shimane and Yamaguchi prefectural police departments on Thursday for allegedly importing North Korean matsutake mushrooms under the pretense that they were Chinese ones. (The Japan News)
An expert panel of the Nuclear Regulation Authority (NRA) has concluded again that a fracture zone running just below the No. 2 reactor of the Tsuruga nuclear power plant in Fukui Prefecture is an active fault. (The Japan News)
Police reported a record-high 28,923 minors aged below 18 to child welfare authorities as suspected victims of child abuse in 2014, up 33.9 percent from a year earlier, the National Police Agency said Thursday. (Kyodo)
The two names of what appears to be Japanese are on the boarding list of a Germanwings airplane that crashed in southeastern France Tuesday, according to the Japanese consulate general in Barcelona. (Jiji Press)
Police on Wednesday arrested a 42-year-old man in connection with the deaths of his parents, who were found fatally stabbed the day before in a factory the family ran in Takarazuka, Hyogo Prefecture. (Japan Times)
The depths of the ocean are very mysterious, what with all the weird fish and sea creatures, shipwrecks and maybe even sunken treasure down there. It's no wonder scuba diving is such a popular activity, since you never know just what you'll come across. (rocketnews24.com)