Japan Post Bank to invest Y1 trln overseas
Japan Post Bank, the country’s largest bank, plans to invest at least 1.0 trillion yen (USD 9.59 billion) in overseas assets in the financial year to next March, the Nikkei newspaper reported on Tuesday.
The report, citing no sources, said Japan Post Bank plans to invest in European and U.S. corporate bonds including securitised products through overseas asset management firms, tapping their expertise in investing in attractive, but high-risk corporate bonds.
The report said Japan Post Bank itself plans to invest in triple-A rated corporate bonds.
The report gave no details about allocations by currency or product type. It cited BlackRock as a possible asset mangement firm Japan Post Bank could cooperate with.
The report said the bank plans to gradually boost the amount it invests overseas, while seeking to limit market impacts.
Japan Post Bank is one of four business units created within state-owned Japan Post on Oct. 1 to begin a 10-year privatisation process.
At the end of September, the bank held some 181 trillion yen (USD 1,735 billion) in postal savings, of which nearly 90 percent was invested in domestic bonds, with only marginal shares in stocks and foreign assets. (USD 1=104.31 Yen)
Japan Post Bank, the country’s largest bank, plans to invest at least 1.0 trillion yen (USD 9.59 billion) in overseas assets in the financial year to next March, the Nikkei newspaper reported on Tuesday.
The report, citing no sources, said Japan Post Bank plans to invest in European and U.S. corporate bonds including securitised products through overseas asset management firms, tapping their expertise in investing in attractive, but high-risk corporate bonds.
The report said Japan Post Bank itself plans to invest in triple-A rated corporate bonds.
The report gave no details about allocations by currency or product type. It cited BlackRock as a possible asset mangement firm Japan Post Bank could cooperate with.
The report said the bank plans to gradually boost the amount it invests overseas, while seeking to limit market impacts.
Japan Post Bank is one of four business units created within state-owned Japan Post on Oct. 1 to begin a 10-year privatisation process.
At the end of September, the bank held some 181 trillion yen (USD 1,735 billion) in postal savings, of which nearly 90 percent was invested in domestic bonds, with only marginal shares in stocks and foreign assets. (USD 1=104.31 Yen)
