Nippon Life Insurance Company will reduce its holdings of 9 billion US dollars in Japanese government bonds.

Japan's major life insurance companies plan to reduce a total of 13 trillion yen in Japanese government bonds in the fiscal year 2025, marking a strategic shift under new capital regulations. According to their disclosed asset management plans, four of the top 10 insurance companies plan to start reducing Japanese government bonds in the first half of the current fiscal year in April. It is worth noting that Japan Life Insurance Company will be reducing Japanese government bonds for the first time since the fiscal year 2016.