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Sumitomo Life plans to buy 300 bln yen foreign bonds in Oct-Mar
October 20, 2015 / 5:48 AM / 2 years ago

Sumitomo Life plans to buy 300 bln yen foreign bonds in Oct-Mar

TOKYO, Oct 20 (Reuters) - Sumitomo Life Insurance Co plans to buy about 300 billion yen ($2.5 billion) of foreign bonds in the six months to March, its general manager for investment planning said on Tuesday.

Iwao Matsumoto also told a news conference that the institutional investor plans to reduce currency hedging on foreign bonds if the yen rises to near 115 to the dollar. ($1 = 119.4400 yen) (Reporting by Hideyuki Sano; Editing by Chang-Ran Kim)

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