Bad bond bets forces Norinchukin to change strategy


Norinchukin Bank CEO Kazuto Oku — Bloomberg

Tokyo: Japan’s premier agricultural bank, Norinchukin, plans a complete overhaul of its investment strategy after massive losses on its overseas portfolio.

Unlike Mitsubishi UFJ Financial Group Inc and other big regular banks, Norinchukin relies primarily on its securities portfolio worth about 60 trillion yen to generate profit.

Get 20% OFF The Star Digital Access

Monthly Plan

RM 13.90/month

RM 11.12/month

Billed as RM 11.12 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 9.87/month

Billed as RM 118.40 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

From Nike to Starbucks, tariff relief for stocks is fleeting
Enra partners China O&G services firm for South-East Asian FPSO bid
Bursa Malaysia publicly reprimands Techna-X
Parkson renews Nanchang, China tenancy in RM111mil transaction
KLK redesignates Lee Jia Zhang as CEO from Oct 1
Malaysia's economy remains resilient, supported by manufacturing, data centres, says S&P
Ringgit ends easier against US dollar as West Asia conflict weighs on sentiment
AZRB redesignates Wan Zakariah as chairman
LFE Corp secures RM24mil redevelopment jobs
Hubline confirms subsidiary operated helicopter in fatal Sarawak crash

Others Also Read