Japan

While already successful in its native Japan, Nomura Asset Management is looking to expand on a global scale, but are they looking before they leap? Raquel Pichardo-Allison reports

JAPAN - Nomura Asset Management plans to expand its business in a bid to become a more global player in the asset management industry.

JAPAN - Sumitomo Trust and Banking Co. has announced plans to buy Citigroup's Japanese asset management arm, Nikko Asset Management, for JPY112.4bn (US$1.2bn).

JAPAN - Japanese corporate pension funds have increased their allocations to domestic bonds and reduced exposure to equities, a survey by JPMorgan Asset Management Japan reveals.

JAPAN - Japanese corporate pension funds lost an average of 17.1% in the year ended March 31, the worst losses in over a decade, according to data by Watson Wyatt.

JAPAN- Japan's Government Pensions Investment Fund (GPIF) saw a Y5.7trn (US$58.4bn) decline in assets in the fourth quarter of 2008 on the back of weak equity returns.

JAPAN - Japanese defined benefit (DB) pension funds are struggling to preserve strong funding ratios, despite having entered the third quarter of 2008 in a relatively strong position, a Greenwich Associates' study has found.

JAPAN - A move by the Japanese government to allow employees to match employer contributions in defined contribution (DC) plans will accelerate the growth of the retirement savings vehicles, according to Towers Perrin.

JAPAN - Nissan MotorCo has established a global governance structure to manage its pension plan exposure around the world.

JAPAN - Tokio Marine Asset Management (TMAM) and Governance for Owners (GO) have launched the Japan Engagement Consortium (JEC), which will engage on behalf of institutional shareholders with Japanese companies to improve long term returns.