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Article: Nippon Life Insurance Co. to Bolster Real Estate Loans in United States.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- July 25, 2003
CopyrightCOPYRIGHT 2003 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Kyodo News International, Tokyo Knight Ridder/Tribune Business News
Jul. 25--TOKYO--Nippon Life Insurance Co. plans to offer about 500 billion yen in loans for real estate projects in the United States over the next seven years, a Japanese business daily reported Friday.
Japan's major life insurer reversed its policy of cutting down on such investments because dollar-denominated loans backed by real estate collateral offer returns 100-150 basis points higher than those on Japanese and U.S. government bonds, the Nihon Keizai Shimbun said. Those government bonds are conventional investment vehicles for Japanese insurers.
The paper said that ...