Ruling party lawmaker Kenji Nakanishi called for Japan to expand retail bond sales from 5 trillion-6 trillion yen to 10 trillion-20 trillion yen. Retail JGB sales reached 6.16 trillion yen in April-October, already above the 5.9 trillion yen target for the fiscal year ending in March.
Kenji Nakanishi, a ruling Liberal Democratic Party lawmaker, said Japan should expand government bond sales to households on a much larger scale to build a more stable domestic investor base. He said sales of 10 trillion yen to 20 trillion yen would begin to matter, compared with the current 5 trillion-6 trillion yen.
Retail JGB sales totalled 6.16 trillion yen in April-October, up 90% year-on-year and above the 5.9 trillion yen target for the fiscal year ending in March. The planned sales represent 3% of total planned JGB issuance for the fiscal year. Nakanishi proposed super-long fixed-rate and inflation-linked retail bonds, as well as inheritance tax incentives for long-term holders; he said the 10-year yield had risen above 3% for the first time since 1996.
