Norinchukin Bank, the
The Norinchukin Bank, established in 1923 and headquartered in Tokyo, Japan, is a cooperative bank serving more than 5,600 agricultural, fishing, and forestry cooperatives across the country. It is one of Japan’s largest institutional investors, managing assets exceeding $840 billion with approximately 3,200 employees. Norinchukin Bank provides lending, investment, and asset management services for its cooperative members and plays a central role in the Japanese cooperative banking system, supporting the agricultural and rural economy through financial, investment, and consulting services.
Investment Strategy
The Norinchukin Bank employs a globally diversified investment strategy, focusing on the efficient management of funds for its cooperative members. This includes investments across fixed income, equities, private equity, real estate, and alternative assets both domestically and internationally. The bank’s approach emphasizes stable returns through diversification across markets and asset classes with different risk-return characteristics, supporting long-term financial sustainability. Norinchukin also prioritizes sustainable finance and aims to execute approximately ¥10 trillion in new sustainable finance initiatives by fiscal 2030. Its asset management is integrated with group companies to provide a wide range of investments, and it maintains a conservative risk profile, aiming to provide stable profits and returns to its members while supporting economic and rural development.
Latest 13F Filing Activity
Norinchukin Bank, the filed their most recent 13F report on Jun 30, 2025 disclosing 563 equity positions with a total 13F market value of $7B. The fund increased holdings in Ishares TR, Nvidia Corporation, Vanguard Index FDS among other positions. Norinchukin Bank, the reduced exposure to Honeywell Intl Inc., Copart Inc., Unitedhealth Group Inc. among others.
Top Holdings
Equity Positions (563)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
S SPY | SPDR S&P 500 ETF TR | 11.34% | $761.8M | 1,233,000 | $114.13 | $617.85 | +$72.1M |
I ITOT | ISHARES TR | 4.51% | $303.4M | 2,246,560 | $135.04 | $135.04 | +$303.4M |
Q QQQ | INVESCO QQQ TR | 4.25% | $285.7M | 518,000 | $502.49 | $551.64 | +$42.8M |
M MSFT | MICROSOFT CORP | 4.21% | $282.7M | 568,280 | $252.74 | $497.41 | +$82.5M |
I IVV | ISHARES TR | 4.15% | $278.8M | 448,980 | $578.98 | $620.90 | +$26.5M |