Japan National Wealth Logs Record 4,549 T. Yen at End of 2024

Tokyo, Jan. 21 (Jiji Press)–Japan’s national wealth grew for the fourth consecutive year to hit a record high at the end of 2024, thanks to rising land and stock prices, according to a Cabinet Office estimate. The country’s total assets, or the value of properties, cash, deposits and stocks minus that of loans and other debts, rose 4.8 pct from a year earlier to 4,549.5 trillion yen, the highest since comparable records began in 1994, the estimate showed Tuesday. At households, net assets expanded 3.8 pct to a record 3,160 trillion yen, driven by growth in land prices as well as the expansion of financial assets due to increased stock prices. Net assets of central and local governments jumped 36.1 pct to 427.1 trillion yen, attributed to higher appraised value of social infrastructure, such as roads, amid rising material costs. Corporate entities, excluding financial institutions, saw their net assets grow 3.8 pct to 741.5 trillion yen. Meanwhile, net assets of financial institutions plunged 35.2 pct to 95.1 trillion yen, hit by falls in the prices of bonds held by them amid rising interest rates. END [Copyright The Jiji Press, Ltd.]