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MNI BRIEF: Japan's Nippon Life Outlines FY Bond Holding Plans

(MNI) Tokyo
TOKYO (MNI)

Japan's Nippon Life Insurance plans to increase domestic bonds holdings, such as hedged foreign corporate and yen corporate bonds as well as 30-year Japanese government bonds this fiscal year, Akira Tsuzuki, senior general manager of the finance and investment planning department, told reporters on Tuesday.

Nippon Life also plans to lower the balance of hedged foreign bond holdings because of higher hedging-costs, after increasing the balance by JPY720 billion to JPY6.34 trillion last fiscal year. "We reduced the balance of unhedged foreign bond holding during the last fiscal year as the firm has put top priority of increasing hedged foreign bonds,” Tsuzuki said.

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Japan's Nippon Life Insurance plans to increase domestic bonds holdings, such as hedged foreign corporate and yen corporate bonds as well as 30-year Japanese government bonds this fiscal year, Akira Tsuzuki, senior general manager of the finance and investment planning department, told reporters on Tuesday.

Nippon Life also plans to lower the balance of hedged foreign bond holdings because of higher hedging-costs, after increasing the balance by JPY720 billion to JPY6.34 trillion last fiscal year. "We reduced the balance of unhedged foreign bond holding during the last fiscal year as the firm has put top priority of increasing hedged foreign bonds,” Tsuzuki said.

Keep reading...Show less