Bank Giant Plans to Ramp Up $67 Billion Japan Bond Holdings After Market Calms

Japan’s second-biggest bank plans to aggressively rebuild its local sovereign debt holdings once a wild surge in yields runs its course.

Sumitomo Mitsui Financial Group Inc. is prepared to increase its Japanese government bond portfolio to as much as double the current ¥10.6 trillion ($67 billion) after it makes a full-scale return to the debt, global markets head Arihiro Nagata said in an interview.