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 death toll from the deadly landslides in the city of Hiroshima rose to 42 on Saturday, with 43 still missing, as rescuers continued to remove mud and pick through rubble in search of any survivors three days after torrential rain triggered the mountainside disaster. (BBC)
The number of people in Tokyo who were transported to hospital by ambulance in comas or other conditions after inhaling "dangerous drugs" came to 1,129 over the past 5½ years, including two fatalities, it was learned on Friday. (The Japan News)
The National Police Agency reported Thursday that police gave correctional guidance nationwide to a total of 220 minors younger than 18 who tried to provide sex for money or sell their used underwear online from January to June this year. (The Japan News)
A man suspected of groping a woman on the JR Yamanote line escaped by jumping onto the tracks at JR Ebisu station in Tokyo on Thursday night. His actions delayed trains along the Yamanote line for about 30 minutes, TBS reported Friday. (Japan Today)
The Imperial Household Agency has announced that Princess Noriko, 26, a daughter of Emperor Akihito's late cousin Prince Takamado, will marry Kunimaro Senge, 40, a son of the chief priest of the Izumo Taisha (Grand Shrine) in Shimane Prefecture, on Oct 5.
The Tokyo District Court on Thursday sentenced a man to 4 1/2 years in prison for sending threatening letters to convenience store chains and other establishments linked to Tadatoshi Fujimaki's "Kuroko's Basketball" manga series. (Japan Today)
Tokyo Metropolitan Police suspect organized crime members participated in a shooting incident that took place on Thursday inside a coffee shop in the Nishikoiwa district of Edogawa Ward, reports public broadcaster NHK. (Tokyo Reporter)
Police in Kawagoe, Saitama Prefecture, said Thursday they have arrested an unemployed 28-year-old man on a charge of attempted murder after he stabbed his 23-year-old female friend in the back with a large kitchen knife. (Japan Today)
Justin Timberlake recently called Madonna a "mother chucking ninja". Some people in the US were upset, saying the word had racist connotations. In Japan, some folks were baffled by this controversy. (Kotaku)
Thousands of rescuers combed through the wreckage of homes engulfed by landslides in western Japan on Thursday in the slim hope of finding survivors, a day after a wall of mud claimed at least 39 lives. (AFP)
The body of a 7-year-old boy who went missing on Monday was found Wednesday on train tracks in Matsumoto, Nagano Prefecture. Police said the boy appeared to have been run over by a train. (Japan Today)