Companies across Japan have a new name in their top 10 shareholder lists: the world¡¯s largest pension fund.
The ?134 trillion Government Pension Investment Fund is the top owner of Mitsubishi UFJ Financial Group Inc., Honda Motor Co. and at least 119 other Tokyo-listed firms, according to Bloomberg analysis after GPIF unveiled its individual investments for the first time last month. It is the second-biggest holder in Toyota Motor Corp. with a 5.5 percent stake in Japan¡¯s largest company. At the latest reckoning, the retirement savings manager owns about 5.8 percent of the stock market.
¡°Its scale and presence is huge,¡± said Yoshinori Shigemi, a global market strategist in Tokyo at JPMorgan Asset Management Ltd. ¡°Now that it has finished its big shift to equities, it can start being more selective about which companies it buys.¡±
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