The new unit will serve as a major centre for overseas wholesale operations, such as underwriting
Euroyen bonds issued by Japanese companies.
The loss has stemmed from the investments in
euroyen bonds and mutual funds into which bonds denominated in foreign currencies are incorporated, according to the group, widely known as Nippon Keidanren.
28 /PRNewswire-FirstCall/ -- Aflac Incorporated announced today that it has issued
Euroyen bonds totaling 45 billion yen, or approximately $384 million at the current exchange rate.
He also said he plans to ask the Investment Trusts Association of Japan to devise stricter guidelines on risk management of money management funds (MMFs) as funds that incorporated
euroyen bonds issued by Enron fell below par value following Enron's financial trouble.
The MMFs, which incorporate
euroyen bonds floated by U.
Some MMFs that incorporated
Euroyen bonds floated by U.
As for massive cancellations of money management funds (MMFs) incorporating
euroyen bonds of U.
Money management funds (MMFs) offered by four Japanese asset management companies have fallen below their par value of 10,000 yen due to the inclusion of
euroyen bonds issued by Enron Corp.
Investors on Thursday canceled more than 1 trillion yen in money management funds (MMFs) incorporating
Euroyen bonds of U.
Norinchukin Bank reportedly incurred losses of 4 billion yen on
Euroyen bonds, however.
said Tuesday it has incurred a loss of some 15 billion yen on its holding of
Euroyen bonds linked to Russian government bonds.
Asahi officials said the Dutch subsidiary, established in 1989, has raised funds through such methods as issuing
Euroyen bonds worth 2-40 billion-yen range on guarantees provided by the parent company.
