Nikkei:

• The Bank of Japan’s government debt holdings have fallen for the first time in 13 years as the central bank quietly adjusts its massive bond-buying program in the face of looming financial risk.
• The BOJ’s balance of Japanese government bonds totaled 521 trillion yen ($4.49 trillion) at the end of 2021, according to data released Wednesday, down 14 trillion yen from a year earlier.

Down from an eye-watering 535 tln to a marginally less euye-watering 521 tln.

There is plenty more at the piece, link here (may be gated)

Nikkei says the motivation for the reduce tion was ‘tackling risk’