In Japan, household assets reached a record high of 2,212 trillion yen in June, driven by the increase in stock prices, according to data from the Bank of Japan. This marked a 4.6 percent growth from the previous year, surpassing the previous record set in March.
The government’s initiative to encourage saving through tax-exempt benefits from small investments has contributed to this increase. Stock holdings, in particular, grew by 15.6 percent to a record 301 trillion yen, fueled by the yen’s depreciation and the strong performance of exporter shares.
Additionally, investment trusts saw a significant jump of 27.1 percent to 128 trillion yen, thanks to the revamped tax exemption program for small investments, similar to the system in Britain called NISA.
Despite the growth in other areas, cash and deposits still make up about half of household assets, totaling 1,127 trillion yen. The Bank of Japan also reported a slight decrease in the ratio of Japanese government bonds it holds, signaling a move towards normalizing monetary policy.
Overall, the financial landscape in Japan is experiencing positive growth and diversification, driven by various government initiatives and market trends.
© KYODO