Mizuho Financial Group is accelerating the sale of its policy stocks, aiming to reduce holdings by over 350 billion yen within three years. The bank is managing its securities portfolio conservatively while preparing for future investment opportunities and plans to strengthen its mergers and acquisitions strategy, as outlined by President Kihara. Meanwhile, Japan's major property and casualty insurers—Sompo Holdings, MS&AD Insurance Group, and Tokio Marine Holdings—have announced share buyback programs capped at approximately 3.3% to 3.6% of their outstanding shares, with buyback limits ranging from 85 billion yen to 110 billion yen. These insurers reported record-high net profits for the fiscal year 2024, attributed in part to favorable foreign exchange rates boosting their overseas operations. The insurers have also divested around 2 trillion yen worth of stocks by March 2025, reflecting a shift in their investment approach. On the asset management front, Blackstone is expanding its private-wealth business in Japan by increasing sales channels for private-asset funds targeting affluent individuals and is considering establishing a Japan-registered trust investing in yen assets. Additionally, alternative asset managers such as Blue Owl Capital plan to enter the Japanese mutual fund market as early as 2026, and buyout firm EQT is launching its first fund aimed at Japanese retail investors. Rothschild is also expanding its M&A franchise in Japan. These developments underscore growing activity in Japan's financial and insurance sectors, with a focus on capital efficiency, wealth management, and private credit expansion.