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Japan Pension Fund's 1% Crypto Plan: Diversification, Not Speculation
The National Business Corporate Pension Fund will allocate 1% of its ¥21.3B portfolio to crypto for currency diversification, not speculation. The move comes as Japan rewrites crypto rules and eyes ETFs.
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A Japanese corporate pension fund plans to invest about 1% of its assets in crypto starting in fiscal 2026. The allocation is small. The reasoning is not a bet on token prices.
The National Business Corporate Pension Fund, based in Okayama City, manages about ¥21.3 billion ($136 million) for roughly 1,200 small and medium companies. CoinPost reported the plan, citing Nikkei. The exposure would come through a passive fund run by a major hedge fund, holding multiple crypto assets. The fund has not named the tokens or the manager.
The fund's investment executive director, Aiyu Kiguchi, told CoinPost the goal is currency risk diversification. The fund's current mix is 80% yen and 15% dollars, with the rest in other currencies. For fiscal 2026, it plans to cut yen to 70% and add 10% to developed-market currencies. Another 5% would go to emerging-market currencies and gold, with a portion also for crypto. Kiguchi said the dollar "may lose its status as a reserve currency," explaining why the fund did not raise dollar holdings.
Kiguchi said the fund reached its view after about six years of research. He said the market had "matured" as the investor base deepened. The fund is also studying arbitrage strategies across several crypto assets.
The 1% allocation is designed to limit direct pressure on the portfolio. CoinPost said the fund has a funded ratio above 140% and an effective equity ratio above 30%. That gives it room to take measured risks without endangering retirement savings.