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Japan's Norinchukin Bank 'vigilant' after slashing U.S. bond holdings: CIO

Farm lender's CLO position isn't especially large now, investment chief says

20230303 Nourinchukin CIO

Norinchukin Bank Chief Investment Officer Hiroshi Yuda signaled caution on new investments, given recent market volatility. (Photo by Kosuke Imamura)

TAIZO WADA, Nikkei staff writer
March 4, 2023 03:35 JST

TOKYO -- Agricultural lender Norinchukin Bank, one of Japan's biggest institutional investors, sold off tens of billions of dollars of U.S. government bond holdings last year in response to soaring interest rates, Chief Investment Officer Hiroshi Yuda said.

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