Society

Japan mulls cutting back sales of ultralong debt

Oct 19 (Nikkei) - A possible slowdown in purchases of 30- and 40-year Japanese government bonds by life insurers could influence the Finance Ministry's debt issuance plans for the next fiscal year.

The outstanding balance of these ultralong bonds has steadily increased. A ministry estimate shows that such debt would account for more than half of the outstanding JGB balance at the end of fiscal 2024, based on the current pace of issuance.

But life insurers, the main buyers of such ultralong JGBs, could face difficulty increasing purchases as factors such as a shift in focus to medical insurance change how their liabilities align with their investment horizons.

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