Investor Presentaiton
1. Summary
2. How to Increase
Corporate Value
3. Appendix
4. Financial Data
Restructuring of the Yen Interest-rate Portfolio (1) Paradigm Shift in Portfolio + Next Actions
We achieve a paradigm shift in the portfolio by shifting investments from JGBs to risk assets in the face of declining yen interest
rates.
From 2023 onward, we capture the reversal trend of yen interest rates by shifting investments from due from banks, etc. to JGBs
(restructuring of the yen interest-rate portfolio).
(%)
2.0
1.5
1.0
0.5
0.0
Sophisticated Risk Management and Timely and Appropriate Actions in Line with Market Fluctuation
As of Oct. 1, 2007 (Corporatization)
As of Mar. 31, 2016 (FY end of IPO)
As of Mar. 31, 2023 (the end of FY2023/3)
Foreign
securities, etc.
0.1%
Others 9.2%2
Others 15.3%*²
JGBs
JGBs
Others*2
18.3%
16.8%
40.1%
Due from
banks, etc.
2.5%
AUM
JPY 220.7tn
To Reverse
& Expand
AUM
JPY 204.8tn
JGBs"1
88.0%
Foreign
securities, etc.
22.1%
Due from
banks, etc.
22.3%
Foreign
securities, etc.
34.6%
AUM
JPY 226.3tn
Due from
banks, etc.
30.1%
(0.5)
End
Mar.
07
Interest rate of 10-year JGB
Source: JGB interest rate information
2008- Commenced and Expanded Investments in Overseas Credit Assets
Jan. 2016
QQE with negative interest
rates by BOJ
2016- Commenced Investments in Strategic Investment Areas Assets,
and focused on them
PE and Real estate funds
revenue in full swing
2020- Enhanced Stress Resilience of
Investment Portfolios
2023-
Restructuring of
the Yen Interest-
rate Portfolio
- Ministry of Finance Japan
Apr. 2013
Quantitative and Qualitative Monetary
Easing ("QQE") by BOJ
End
Mar.
09
End
Mar.
11
End
Mar.
13
Sep. 2016
QQE with Yield Curve
Control (YCC”) by BOJ
End
Mar.
15
Mar. 2020
Corona crisis
End
Mar.
17
Mar. 2021
Clarification of YCC policy
(approx. ±0.25%) by BOJ
End
Mar.
19
End
Mar.
21
Dec. 2022, Jul. 2023, Oct. 2023
YCC tweak by BOJ
End End
Mar. Oct.
23
23
*1 Include deposits to the Fiscal Loan Fund which were postal savings funds deposited with the Ministry of Finance Japan. All deposits to the Fiscal Loan Fund were redeemed through November, 2010.
*2 Consist of Japanese local government bonds, corporate bonds, money held in trust, loans, short-term investments, etc.
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BANK
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