Japan's Meiji Yasuda Life says cautious on yen bonds, looks to foreign bonds

TOKYO, April 24 Wed Apr 24, 2013 1:36am EDT

TOKYO, April 24 (Reuters) - Japan's Meiji Yasuda Life Insurance Co plans to buy around 500 billion yen ($5 billion) of foreign bonds, but more with currency hedging than without it, in the financial year to March next year, a company executive said on Wednesday.

Japan's third-largest private life insurer is taking a cautious stance on domestic bonds as the Bank of Japan's aggressive easing has made them volatile, Toshihiko Yamashita, chief executive of the insurer's investment division, told a news conference.