Japan's "University Fund" Marks 1st Investment Gains
Tokyo, July 5 (Jiji Press)--The Japanese government's 10-trillion-yen fund to assist outstanding domestic universities produced its first-ever gross investment gains in fiscal 2023, the education ministry and the Japan Science and Technology Agency, the fund's operator, said Friday.
In the year that ended in March, the gains amounted to 993.4 billion yen, against 60.4 billion yen in loss the previous year.
Global stock market rallies resulted in the turnaround in the fund's performance, the state-run agency said.
According to the JST, assets under management grew to 10,964.9 billion yen with a 10 pct investment return. The fund's balance sheet showed its bottom line was 116.7 billion yen in the black, up 42.4 billion yen year on year. As a result, 184.8 billion yen was secured for subsidizing certified universities.
"Sufficient money for the grants was raised" in the fund's two-year initial investment period from March 2022, a ministry official said.
(2024/07/05-20:54)
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