• Bloomberg, Kyodo


Koyasan Shingon Buddhism, the owner of a cluster of World Heritage Site temples founded in the ninth century, reported losses equal to about a quarter of its assets after bets on the Australian dollar and structured bonds soured.

The group had unregistered losses of ¥1.53 billion on financial assets of ¥5.79 billion for the year ended March 31, according to an April 23 report commissioned by the organization, based in Wakayama Prefecture. The head of the organization, Kosho Shono, resigned Wednesday to take responsibility.

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.

We humbly apologize for the inconvenience.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.