Japan’s GPIF Reports ¥16.19 Trillion Oct–Dec Surplus, Third Straight Gain
Total assets reached ¥293.43 trillion at December’s close, highlighting nearly ¥196.37 trillion in cumulative market-era profits.
Overview
- GPIF posted a ¥16.1878 trillion operating surplus for October to December 2025, marking the third consecutive quarter in the black.
- Equity holdings drove results, with domestic stocks earning ¥6.0497 trillion and foreign stocks adding ¥6.7742 trillion.
- Foreign bonds contributed a ¥4.8964 trillion profit, offsetting a ¥1.5325 trillion loss in domestic bonds.
- The fund cited strong corporate earnings in the U.S. and Europe and a robust Japanese stock market as key tailwinds.
- Assets under management stood at ¥293.4276 trillion at the end of December 2025, with cumulative gains since 2001 totaling ¥196.3721 trillion.