Tokyo, Sept. 17 (Jiji Press)–Financial assets held by households in Japan rose 11.0 pct from a year before to a record 2,519 trillion yen at the end of June, the Bank of Japan said Thursday. The growth reflected soaring stock prices. Japan’s benchmark Nikkei 225 stock average exceeded 70,000 for the first time ever in June. Of the total household financial assets, equities jumped 47.0 pct to a record 486 trillion yen, while investment trusts grew 36.8 pct to 193 trillion yen, also a record high. Insurance policies rose 3.0 pct to 426 trillion yen as the value of foreign currency-denominated products swelled due to the historic weakening of the yen. Cash and deposits were up 0.5 pct at 1,132 trillion yen. Household liabilities climbed 4.1 pct to 416 trillion yen, hitting a record high due chiefly to a rise in housing loans. The central bank held 470 trillion yen in Japanese government bonds, excluding treasury discount bills. The share of JGBs held by the BOJ came to 46.70 pct, standing below 50 pct for the fourth straight quarter as JGB purchases by the bank fell following the end of its massive monetary easing. By contrast, the share of JGBs held by households rose to 2.18 pct, reaching 2 pct for the first time since the end of September 2014, reflecting a rise in retail JGB sales amid higher yields. Nonfinancial companies’ financial assets increased 16.3 pct to a record 1,866 trillion yen on the back of increased foreign direct investment and higher stock prices. END [Copyright The Jiji Press, Ltd.]
