The boj’s semi-annual financial report released tuesday showed record losses on its bond holdings in the last six months, illustrating the challenges central bank governor kazuo ueda faces as he moves toward policy normalization. At the end of September, book losses on those assets stood at 10.5 trillion yen ($70.7 billion), the biggest loss since fiscal 2004. That was more than six times higher than the previous fiscal year’s loss of 157 billion yen.