Japan's largest agricultural bank, Norinchukin, plans to sell $63Bn in US & European sovereign bonds by Mar 2025 due to misjudged interest rate predictions causing losses.
Japan's largest agricultural bank, Norinchukin, plans to sell $63Bn in US & European sovereign bonds by Mar 2025, due to misjudged interest rate predictions causing losses. They anticipate a net loss of 1.5 trillion yen for the fiscal year, triple the previous estimate. In response, the bank will diversify its investment portfolio, including CLOs, domestic & overseas bonds, stocks & project financing.
June 18, 2024
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