Norinchukin Bank is considering raising ¥1.2 trillion ($7.7 billion) to boost capital and cover losses arising from a plan to get rid of low-yielding foreign bonds, a person familiar the matter said.
The Tokyo-based bank, best known as one of the world’s biggest buyers of collateralized loan obligations, may book about ¥500 billion in losses for the current fiscal year through March 2025 as a result of restructuring its securities portfolio, said the person, who asked not to be named because the information is not public.