Norinchukin’s investment securities loss widens to $12bn

- By Lorenzo Migliorato
- 29 Nov 2022

Mark-to-market losses on The Norinchukin Bank’s securities book widened 180% to ¥1.7 trillion ($12.1 billion) in three months to end-September, leaving Japan’s fifth-biggest bank reeling the most from this year’s bond price rout.

Bonds accounted for most of the gash at ¥2.1 trillion, with other credit assets – including collateralised loan obligations (CLOs), of which the bank is a notoriously

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