Norinchukin CEO Says Expected Loss Could Change With Market

-- Norinchukin Bank isn’t ruling out further gyrations to its soured bond investments after the firm earlier this week warned they may swell to 1.5 trillion yen , triple an estimate made about a month ago.Hedge Fund Talent Schools Are Looking for the Perfect Trader

The morning meeting lasted for about an hour and a half, according to a company spokesman. Oku had explained the company’s financials and apologized for the losses, the spokesman said. Japan’s Finance Minister Shunichi Suzuki said on Friday the country’s financial regulator will continue to work closely with the agricultural ministry to grasp the impact of yield trends on the bank.Norinchukin has sufficient capital adequacy that exceeds the current regulatory level and its financial soundness is secured, he said. Still, authorities are asking the bank to establish an appropriate risk management system, according to Suzuki.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Norinchukin Says No Extra Funding Needed, Mulls JGB InvestmentNorinchukin Bank said it doesn’t need additional funds beyond a planned 1.2 trillion yen ($7.6 billion) capital raise, despite tripling an estimate of potential losses this week.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Norinchukin Eyes Assets Including CLOs, Stocks After Bond LossNorinchukin Bank, Japan’s biggest agricultural bank, will diversify its investment portfolio after selling roughly 10 trillion yen ($63 billion) in US and European sovereign bonds.
Source: BNNBloomberg - 🏆 83. / 50 Read more »