Many investors outside Japan had thought, seeing the big disaster had happened in Japan, that Japanese insurance companies, which are big holders of (the?) US bonds or other assets outside Japan, could not avoid selling these assets at a large scale to pay insurance payout. However, in reality on the contrary, Japanese insurance companies bought more. The reason is simple, that these companies have enough or too many assets in Japanese yen and so they do not need to sell ones outside Japan. Rather they added US bonds, since US dollars fell off suddenly after the earthquake. If something is cheaper, they will buy it. [I feel this is lengthy, since in Japanese, it would be 安ければ買う.]
Japanese institutional investors bought 29.3 billion dollars more assets than they did sell this March.
However, Japan will face big difficulties after this if people all over the do not buy products that the Japanese people make in Japan. The reason is simple, that “Japan is a country with few natural resources beyond its people.” (David Pilling, FT)