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Fuji Electric Pension Fund
Founded in 1970 as the Fuji Electric Kosei Nenkin Kikin (welfare pension fund), the entity restructured significantly over the following decades.
Fuji Electric Pension Fund
Founded in 1970 as the Fuji Electric Kosei Nenkin Kikin (welfare pension fund), the entity restructured significantly over the following decades. It integrated the Fuji Electric Group Kosei Nenkin Kikin in 2002, executed a return of the substitutional portion of its pension obligations to the government in 2004, and transitioned future accruals for most business units to a defined-contribution corporate plan in 2014. Today the fund operates as a special-incorporated entity under Japan's Defined-Benefit Corporate Pension Law, managing legacy liabilities and residual plan assets. Its representative sponsoring company is Fuji Electric Co., Ltd. The fund's investment portfolio reflects a Japanese asset-owner liability-driven framework, with disclosed mandates spanning domestic bonds, domestic equities, foreign bonds, foreign equities, and general accounts at Japanese life insurance companies. Investment policy and portfolio monitoring are conducted through a governance committee co-hosted with Fuji Electric, while an additional asset-management committee with external consultant observers provides advisory oversight to the board of directors. The administrative trustee and custodian is Mizuho Trust & Banking. Beyond institutional investing, the fund operates two directly-owned commercial welfare properties: Soleil Izu in Futo, Ito, Shizuoka — a hot-spring resort with a Japanese-style inn offering seasonal meal campaigns — and Flora Karuizawa in Karuizawa, Nagano. These properties function as subsidized retreats for members and embody a tangible, non-financial asset class within the fund’s broader fiduciary remit. In April 2026, the fund announced a Golden Week office closure, but extended phone booking service through Soleil Izu for members with reservation changes. The Fuji Electric Pension Fund is a signatory to Japan's Stewardship Code through its membership in the Corporate Pension Stewardship Promotion Council, an industry body focused on fulfilling stewardship responsibilities for corporate pensions. This institutional affiliation signals the fund’s commitment to engagement-oriented equity governance, aligned with Japan's broader regulatory push for asset-owner stewardship.
General information
Firm type
Pension Fund
Year founded
1970
Location
Region
Asia
Country
Japan
City
Tokyo
Corporate office
Tokyo, Japan
Principals
理事長 (Chairman)
理事長 (Chairman)
常務理事 (Managing Director)
常務理事 (Managing Director)
運用執行理事 (Executive Director of Investments)
運用執行理事 (Executive Director of Investments)
事務長 (Administrative Director)
事務長 (Administrative Director)
Frequently asked questions
Who makes the investment decisions at Fuji Electric Pension Fund?
Investment decisions are governed through a multi-tiered internal structure. An asset-management committee, which includes external consultant observers, periodically reviews asset-management matters and advises the board of directors. Separately, a joint committee with Fuji Electric monitors portfolio performance. Day-to-day execution is overseen by an executive director of investments, with ultimate authority resting with the board and chairman as disclosed in the fund's organizational materials.
What is the fund's relationship to Fuji Electric Co., Ltd.?
Fuji Electric Co., Ltd. is the sponsoring corporation and representative business of the fund. The fund was originally established to manage the welfare pension obligations of Fuji Electric and its group companies; it still administers legacy defined-benefit liabilities for these entities. The parent company co-hosts an investment-monitoring committee and maintains a governance tie through the board of directors, but the fund operates as a legally separate special-incorporated entity under Japanese pension law.
Does Fuji Electric Pension Fund engage in stewardship or ESG-oriented investing?
Yes. The fund is a signatory to Japan’s Stewardship Code through its membership in the Corporate Pension Stewardship Promotion Council, an industry association that supports corporate pension funds in fulfilling shareholder stewardship responsibilities. This commitment ties the fund to Japan’s broad drive to improve corporate governance and long-term capital engagement by institutional asset owners.
How is Mizuho Trust & Banking involved with the fund?
Mizuho Trust & Banking serves as the designated administrative trustee and custodian. It manages pension disbursements, produces withholding tax certificates for members, and acts as the contact point for pension-related documentation. In January 2026, the fund began offering electronic tax statements to pensioners via Japan’s Myna Portal system, facilitated through Mizuho Trust’s infrastructure.
Does the fund own any direct real estate assets?
Yes, the fund owns and operates two member welfare facilities as direct real estate holdings. Soleil Izu is a hot-spring resort in Ito, Shizuoka, offering Japanese-style accommodation, seasonal meal campaigns, and karaoke. Flora Karuizawa is a second property located in Karuizawa, Nagano. Both facilities serve as subsidized retreats for plan members and their families, representing a distinctive non-financial asset on the fund's balance sheet.
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