Economic Indicators and Efforts for Sustainability
Business Strategies _ Market Investment I
Investment Policy by Risk Category
(Risk category) (Direction)
Yen-denominated
bonds
Foreign bonds
Securities Performance
(Policy for investment)
(Hundreds of
Millions of Yen)
Keep the balance as a bond including foreign bonds as assets inversely
correlated with stocks.
1,500
Realized profit/loss (= Interest and dividend income + gain (loss) related to securities)
Total profit/loss (= Periodic profit/loss + change in gain/loss on evaluation)
Restore
balance
For foreign bonds (with forex hedges), the balance is temporarily shrunk
in anticipation of rising interest rates. In the future, the balance is
planned to be restored gradually.
1,200
900
1,014
(with forex hedges)
600
Foreign bonds
(without forex
hedges)
Not change
● Adjust the balance and implement strategic re-balancing according to
the situation while keeping a certain amount to secure stable profit
from carry trading.
282
267
300
175
0
Domestic and
overseas stocks
Decrease
Sell off stocks held for strategic purposes if the necessity of holding is
not recognized.
Purchase stocks held solely for investment purposes of which growth is
expected in the medium- to long-term view.
-300
Fiscal 2020
(97)
Fiscal 2021
(99)
First half of Fiscal 2022
Total Yield
1.64%
1.69%
(Domestic
currency yield)
(1.54%)
(1.54%)
2.05%
(1.54%)
Alternatives, etc. Not change
Consider investment to secure stable carrying and portfolio
diversification.
(Foreign currency
yield)
(1.85%)
(1.94%)
(2.84%)
Balance of Securities at Market Value by Risk Category
Domestic and overseas stocks
(Hundreds of
Alternatives, etc.
Millions of Yen)
(including investment trust)
20,000
Foreign bonds
(without forex hedges)
Foreign bonds
Yen-denominated
(with forex hedges)
bonds
(Hundreds of
Millions of Yen)
5,000
3,502
4,000
2,821
3,000
2,000
1,000
0
Total for last 10 years
(right axis)
-1,000
* For fiscal 2022, values
recorded only for the
first half
Portfolio Risk Sensitivity and Duration
Portfolio risk sensitivity (As of September 30, 2022)
Yen-denominated bond portfolio 10BPV
Foreign bond portfolio (with forex hedges) 10BPV
Foreign bond portfolio (without hedges) 10BPV
Stock portfolio Nikkei Stock Average ¥1,000V
Duration
¥2.6 billion
¥1.1 billion
¥0.8 billion/exchange ¥10V ¥20.2 billion
¥10.3 billion
6,200
5,100
5,200
15,000
1,885
5,201
(Of which, JGBS)
5,045
1,000
1,017
5,600
5,700
4,274
-9.15-
10,000
3,489
10 years
2,657
8.27
8 years
2,956
3,002
2,928
2,900
2,900
6 years
5,000
4 years
4,088
3,742
3,751
3,700
3,700
4.26
2 years
Yen-denominated
1,428
1,467
1,318
1,500
1,500
bonds.
0 years
0
Fiscal 2020
Fiscal 2021
First half of
Fiscal 2022 Plan
Fiscal 2023 Plan
Fiscal 2019
Fiscal 2022
Copyright 2022 lyogin Holdings, Inc. All Rights Reserved.
5.42
5.21
4:80-
-4.93-
3.86
Foreign bonds (with forex hedges)
Fiscal 2020
Fiscal 2021
First half of
Fiscal 2022
Fiscal 2022
Plan
Fiscal 2023
Plan
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