April 23, 2019 / 2:21 AM / 7 months ago

Sumitomo Life plans to step up investment in foreign bonds

TOKYO, April 23 (Reuters) - Sumitomo Life Insurance will step up investment in foreign bonds in the financial year to March 2020, planning to raise its holdings by more than the previous year’s increase of 240 billion yen ($2.2 billion), a senior executive said on Tuesday.

Toshio Fujimura, head of the investment planning department, also said the firm plans to increase investment in other assets, such as foreign stocks and domestic bonds. ($1 = 111.7600 yen) (Reporting by Hideyuki Sano; Editing by Chris Gallagher)

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