Japan's Nippon Life to raise yen bond holdings in FY2014/15

TOKYO, April 22 Tue Apr 22, 2014 4:00am EDT

TOKYO, April 22 (Reuters) - Japan's Nippon Life Insurance plans to lift yen bond holdings in the year through March 2015 amid an expected rise in domestic yields and aims to slightly increase unhedged foreign bonds when the yen strengthens, a company official said on Tuesday.

In the year that ended in March, Japan's largest private life insurer with total assets of about 55 trillion yen ($536 billion) increased its domestic bond holdings by 960 billion yen to 25.17 trillion yen, the life insurer said. ($1 = 102.5700 Japanese Yen) (Reporting by Shinichi Saoshiro; Editing by Dominic Lau)

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