Japan's Net External Assets Hit Record 364 T. Yen
Tokyo, May 26 (Jiji Press)--Net external assets owned by governments, companies and individuals in Japan at the end of 2019 grew 6.8 pct from a year before to stand at 364,525 billion yen, the Finance Ministry said Tuesday.
The net external assets, or total overseas assets minus external debts, hit a record high for the first time in five years. External debts are the total of foreign investments in Japan.
Japan was the world's largest creditor in terms of net external assets for the 29th consecutive year.
Total overseas assets increased 7.8 pct to 1,097,731 billion yen, hitting a record high for the eighth straight year.
Of the total, direct investments grew 11.5 pct to 202,833 billion yen, reflecting increasing moves by Japanese companies to acquire foreign companies and shift production overseas.
[Copyright The Jiji Press, Ltd.]