To use this site, please disable the ad blocking feature and reload the page.
This website uses cookies to collect information about your visit for purposes such as showing you personalized ads and content, and analyzing our website traffic. By clicking “Accept all,” you will allow the use of these cookies.
Users accessing this site from EEA countries and UK are unable to view this site without your consent. We apologize for any inconvenience caused.
Yomiuri Shimbun file photo The Education, Culture, Sports, Science and Technology Ministry in Chiyoda Ward, Tokyo
The Yomiuri Shimbun
16:26 JST, July 10, 2023
A ¥10 trillion “university fund” set up by the government had a ¥60.4 billion investment deficit in fiscal 2022, the Japan Science and Technology Agency announced Friday. Falling bond prices caused by interest rate hikes by the United States and European central banks are the main factors behind the deficit.
By asset category, investment performance showed a gain of about ¥66 billion through stocks and such, but a loss of over ¥126 billion in bonds. Total assets under management as of the end of fiscal 2022 was at ¥9.9644 trillion.
On the other hand, the fund’s net income in fiscal 2022 was ¥74.2 billion, mainly due to dividends from stocks.
The investment income of the fund, coming in at about about ¥10 trillion, will be used to subsidize universities that have been certified by the Universities for International Research Excellence program, a government initiative to realize world-class research capabilities at Japanese universities.
A panel of experts from the Education, Culture, Sports, Science and Technology Ministry will decide on one or two universities to receive the first grant this fall. The candidates are Tokyo University, Kyoto University and Tohoku University.
The approved universities will receive a subsidy of several tens of billions of yen annually for up to 25 years. The grant will begin in fiscal 2024, and the number of certified schools will increase to several throughout stages.
