Japan’s Negative Net Worth Hits 699 T. Yen at End of FY 2024

Tokyo, Jan. 31 (Jiji Press)–The Japanese government’s excess debts over assets calculated using the private sector’s accounting methods reached 699.9 trillion yen at the end of fiscal 2024, an increase of 4.2 trillion yen from a year before, the Finance Ministry has said. The first expansion in two years in the state’s negative net worth reflected an increase in the issue amount of new Japanese government bonds, according to the ministry’s announcement Friday. The government’s assets as of the March 31, 2025, end of fiscal 2024 expanded 5.3 trillion yen to 783.4 trillion yen reflecting a 2.4-trillion-yen rise in the amount of funds entrusted to the Government Pension Investment Fund as resources for asset management thanks to growth in premium income for the “kosei nenkin” pension program. Securities decreased 2.6 trillion yen due to transactions related to foreign exchange market intervention. The total amount of debts was up 9.5 trillion yen at 1,483.3 trillion yen as the balance of JGBs rose 20.3 trillion yen to 1,184.6 trillion yen. Revenue shortfall, equivalent to private firms’ net loss, came to 15.9 trillion yen, a decrease of 3.1 trillion yen from a year before. Growth in corporate tax revenue and premium income traced to higher wages outpaced that in payments of social security benefits and interest on JGBs. END [Copyright The Jiji Press, Ltd.]