Norinchukin Bank isn¡¯t letting recent credit blowups in the U.S. deter it from a plan to increase investments in the space.
The agricultural lender, one of Japan¡¯s biggest institutional investors, remains sanguine over corporate and household credit in the U.S., according to its Chief Investment Officer Katsuhiko Ushikubo. ¡°We won¡¯t stop investment,¡± he said in an interview in Tokyo on Monday.
Ushikubo, who took the role in April, is in charge of Norinchukin¡¯s efforts to repair its ?40.7 trillion ($266 billion) investment portfolio after the bank lost billions of dollars on foreign bonds last fiscal year. Part of that strategy involves putting more money into credit instruments.
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