Investor Presentaiton
Investment Policy (Risk Appetite)
1. Summary
2. How to Increase
Corporate Value
3. Appendix
4. Financial Data
Financial Results
Asset
Management
Σ Business
Governance
Strengthening risk tolerance of our portfolio and focusing on risk-return improvement, we conduct portfolio management flexibly
while adopting to changes in market environment.
Credit
Appetite
(Domestic)
(Overseas)
Interest
IG
XOVER
HY
CLO
Stocks
Foreign Exchange
Private equity funds
funds
Real estate
Strategic Investment Areas
Equities
Debts
Direct lending funds
Infrastructure debt funds
4
x+4
Medium-term investment policy
Domestic interest related assets: Portfolio is flexibly restructured in light of BOJ's monetary policy
Overseas interest related assets: Take on and/or curb risk according to market conditions
(Ref.) Capital Efficiency
FY2024/3 (Expected
RA Distribution Yield")
(No Risk Assets)
Focus on investing in IG area while paying attention to improving credit quality
Carefully consider investing in HY areas according to market conditions
1-2%
Continue to invest, keeping market share in mind
Take on and/or curb risk according to market conditions
Take on and/or curb risk according to market conditions
6%
2%
5%
1%
Continue to invest selectively in high-quality funds, focusing on debt assets
Regarding private equity funds, keep the ratio of funds aiming to generate
income gains in mind
1%
2%
1%
Hedge funds
Continue initiatives to cancel all contracts
* Distribution yield on risk assets. Expected RA Distribution yield is presented on a management accounting basis and represents the expected dividends, inclusive of non-revenue dividends, received from
new investments in the relevant category (expected earnings yield in strategic investment areas) divided by risk assets represented by such category.
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