Japan household assets hit record in Dec. as cash reserves increase

Economy

Assets held by Japanese households rose 2.9 percent from a year earlier to a record 1,948 trillion yen ($18 trillion) at the end of December, as the coronavirus pandemic dented spending and people built cash reserves, the Bank of Japan said Wednesday. Cash and deposits rose 4.8 percent to a record 1,056 trillion yen, accounting for 54.2 percent of total assets held by Japanese households, according to the quarterly data. The increase is partly due to the impact of the government's 100,000 yen cash handout scheme for all people in the country that was aimed at boosting economic and business act...

Kyodo News

Kyodo News