Newsfrom Japan
Tokyo, June 18 (Jiji Press)–Norinchukin Bank plans to sell up to 10 trillion yen’s worth of U.S. Treasuries and European bonds, likely to leave it with some 1.5 trillion yen in consolidated net loss in the year ending in March 2025, people familiar with the matter said Tuesday.
The Japanese bank had projected a net loss of slightly over 500 billion yen as of May. It has been struggling with latent losses on foreign bond investments.
Norinchukin Bank, the central organization for financial institutions for agricultural, forestry and fisheries cooperatives, plans to raise some 1.2 trillion yen in fresh capital to ensure its financial health. It is currently in talks with agricultural cooperatives across the country on the plan.
As of the end of March, foreign bonds accounted for 42 pct of…
