Reported 8 months ago
Norinchukin Bank's CEO Kazuto Oku stated that the expected losses from soured bond investments could change depending on the financial environment, after the bank warned of possible losses of 1.5 trillion yen. The bank is selling off low-yielding US and European government bonds amidst higher borrowing costs, with Japan's Finance Minister ensuring the bank's financial soundness. Norinchukin is also planning a 1.2 trillion yen capital raise and restructuring its portfolio to manage risks effectively.
Source: YAHOO