Household Financial Assets at FY 2019 End Log 1st Drop in 11 Yrs

Economy Politics

Tokyo, June 25 (Jiji Press)--Financial assets held by households in Japan at the March 31 end of fiscal 2019 logged the first year-on-year drop in 11 years, Bank of Japan data showed Thursday.

The household financial assets fell 0.5 pct from a year before to 1,845 trillion yen, down for the first time since fiscal 2008, during which the collapse of U.S. investment bank Lehman Brothers triggered a global financial crisis.

The latest asset decrease reflected stock price plunges stemming from the coronavirus pandemic.

Of the total balance, shareholdings fell 11.9 pct to 178 trillion yen, and investment trusts declined 11.7 pct to 63 trillion yen.

Meanwhile, cash and deposits, which make up a majority of the household financial assets, grew 2.1 pct to 1,000 trillion yen, a record high for the end of a fiscal year.

[Copyright The Jiji Press, Ltd.]

Jiji Press