Share price rise benefits BOJ

A surge in Japanese share prices has seen the Bank of Japan's holdings of shares in business firms increase to a record 1,132.3 billion yen as of Sept. 30.

The BOJ bought the shares from the commercial banks from November 2002 to September 2003 to prevent then lacklustre share prices from affecting the banks' capital adequacy ratios.

If the BOJ posts gains in the planned share-unloading process, it would enable it to increase the amounts of annual contributions to the national treasury, BOJ of