Japan Post Bank to plough 100b yen into stocks

Tokyo

JAPAN Post Bank Co plans to spend an initial 100 billion yen (S$1.2 billion) directly buying stocks - when it finds the right opportunities.

The nation's second-largest bank by deposits, which currently invests in equities only through passive investments in funds, is eventually aiming to boost active stock holdings to several hundred billion yen in the next five to 10 years, said Katsunori Sago, executive vice president at the Tokyo-based company.