Nippon Life to Reduce Yen Bond Holdings Amid Iran Uncertainty

Nippon Life Insurance Co., Japan’s largest life insurer, plans to pare its holdings of yen-denominated bonds this fiscal year as it continues shifting from low-yielding debt securities to those with higher returns.

In the risk scenario that the Middle East conflict persists, “there would be upward pressure on inflation and long-term yields,” said Daisuke Ishida, executive officer of the finance and investment planning department at Nippon Life, at a briefing on Wednesday.