Yamaguchi Financial Dumps More JGBs Amid BOJ Rate Hikes

Yamaguchi Financial Group Inc., a regional bank in Japan, is preparing to sell even more Japanese government bonds (JGBs) from its portfolio due to faster-than-expected interest-rate hikes by the Bank of Japan. The bank had already written off $400 million in losses last fiscal year after offloading JGBs from its ¥2.04 trillion ($13 billion) securities portfolio.

According to Chief Executive Officer Keisuke Mukunashi, the bank's decision to sell more JGBs is a result of the Bank of Japan's faster-than-expected interest-rate hikes.