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.
Health minister Yasuhisa Shiozaki said Tuesday his ministry has strengthened anti-Ebola measures by obliging travelers arriving from Guinea, Liberia and Sierra Leone to report on their health conditions, even if they have had no contact with people infected with the deadly disease. (Kyodo)
The operator of the Fukushima Daiichi nuclear power plant is to begin dismantling the cover of a reactor building to remove debris as preparation for taking out nuclear fuel from a spent fuel storage pool. (NHK)
The Japanese government said Tuesday it will settle a damages lawsuit with former workers at factories using asbestos in Osaka Prefecture, western Japan, that was sent back by the Supreme Court after their defeat at a lower court. (Jiji Press)
In possibly a legal first, a female civil servant on Tuesday sued the government over what she calls institutional sexism at the ministry she works for, citing almost two decades of blocked promotions and pay raises. (Japan Times)
Osaka Prefectural Police on Friday arrested two male suspects for allegedly dumping a large quantity of adult video (AV) material inside a park in Nishinari Ward, reports the Sankei Shimbun (Oct. 17). (Tokyo Reporter)
Empress Michiko celebrated her 80th birthday on Monday. In a statement distributed to media by the Imperial Household Agency, the empress said she hoped the world could find peace ahead of the 70th anniversary of the end of World War II next year. (Japan Today)