April 20, 2017 / 7:02 AM / 3 months ago

Japan's Mitsui Life: To shift to euro bonds from dollar this FY

1 Min Read

TOKYO, April 20 (Reuters) - Mitsui Life Insurance Co plans to shift some funds to euro-denominated bonds from dollar bonds in the financial year to March, as currency hedging costs for the dollar are expected to rise, a senior company official said on Thursday.

The company plans to reduce the overall holding of currency-hedged foreign bonds by around 50 billion yen ($460 million)after having boosted it sharply last year, Yoichiro Matsuta, head of the investment planning department, also told a news conference.

$1 = 108.84 yen Reporting by Hideyuki Sano; Editing by Chang-Ran Kim

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