TOKYO -- Japan's 10 trillion yen ($70 billion) university endowment fund is off to a rough start, posting a deficit of 60.4 billion yen -- about $420 million -- for its first full fiscal year, which ended in March.
Education
Japan's $70bn university fund finishes first year $420m in the red
Endowment's lofty investment target could make stable returns difficult
Kyoto University is one of three finalists among the 10 schools that applied for subsidies from Japan's new university endowment fund. (Photo by Kosaku Mimura)
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