I agree.
Very good observation about the Japanese being traditionally conservative!
I think that they are quite conservative, but still much less than in the past, and I believe that the reason is that after WW2 they came under strong Western influence, especially that of the US, which still has a very strong influence on Japan as a country.
The fact is that we are still witnessing incredible Japanese inefficiency when it comes to Mt.Gox, which is only proof that they have changed as a nation, unfortunately in a negative sense.
~snip~
If the investment strategy of a pension fund - and this is a major pension fund - is wrong - even if partly wrong - imagine the loss of confidence for the government.
Loss of confidence which could ends up in public protests etc.
Of course, no one likes someone playing with their money when it comes to pensions, but as far as protests are concerned, I would not agree that the average Japanese would protest - because of all developed nations, Japan has the largest national debt of $9.2 trillion, which is more than 260% of GDP.
This is a consequence of the crazy moves that their politicians have been making for decades, but it seems to me that these ideas are not entirely theirs, if you understand what I mean.