The public pension program cleared its books of red ink in fiscal 2004, with a weak yen helping it offload foreign stocks and bonds for a profit, the Health, Labor and Welfare Ministry said Thursday.
The Government Pension Investment Fund, which manages Japan's public pension money, earned a net 2.2 trillion yen on its investments in the year through last March, the ministry said.
With its earnings from stock and bond holdings around the world, the public corporation was able to cover cumulative losses that in fiscal 2002 had climbed as high as 6 trillion, yen including losses it had inherited from its predecessor in fiscal 2001.