Note 1-29

(29) "Daiko henjo return of pension funds' assets to the state" means a return of management of employees' pension funds that the Employee's Pension Fund had managed on behalf of the state to the state against a backdrop of difficulties in management. The movements to turn stock holdings into cash for (1) preparing for return by cash and (2) avoiding impairment of working assets before return, etc. are considered to have become selling pressures in the market.