The panel advising Japan’s leaders on how to keep the Government Pension Investment Fund, the world’s largest manager of retirement savings, from running out of money said depending on domestic bonds has to stop after record fixed-income losses and as inflation returns.
Japanese stocks fell the most in a month on the last trading day of the year, as the yen strengthened against the dollar, reducing the outlook for exporters’ earnings. Benchmark indexes ended 2010 with losses.
Retina Institute Japan K.K., which is employing Nobel Prize-winning stem-cell technology to treat eye diseases, plans to sell a stake in itself to a group of Japanese companies next month ahead of a possible initial public offering in five years.
Japanese stocks fell for a second day, led by utility companies as uncertainty about the outlook for Japan’s energy industry increased ahead of Tokyo Electric Power Co. announcing its full-year profit plunged.
Tokyo Electric Power Co. , the utility at the center of the worst nuclear crisis in 25 years, fell today after a record 65 percent surge in the past two days, spurred by investors covering short sales.
Most Asian stocks fell, with the regional benchmark index set for a third straight weekly drop, as raw material producers declined on lower metal and oil prices utilities tumbled as Tokyo Electric Power Co. reported Japan’s biggest corporate loss in eight years.