The Japanese life insurance company released a signal that it will maintain or increase purchases of domestic bonds in the second half of this fiscal year, which may provide support for the upcoming Japanese treasury bond auction. Japan Post Insurance said it plans to increase purchases of yen denominated bonds. Daido Life Insurance Co. raised plans to increase its domestic bond holdings, which will mainly be increased through corporate bonds. At the same time, the Meiji Yasuda Life Insurance Plan kept its Japanese treasury bond holdings largely unchanged, while selling low-yielding bonds and allocating higher-yielding securities instead. These plans further indicate that, as one of the most important groups of investors in the Japanese bond market, insurance companies' demand for bonds is beginning to pick up. According to data from the Japan Securities Association, insurance companies have been net buyers of ultra-long-term Japanese treasury bonds for the past four months. The strategist said that this trend may provide more stable demand support for the upcoming Japanese treasury bond auctions.

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