Japan Household Financial Assets Hit Record High at FY 2020 End
Tokyo, June 25 (Jiji Press)--Financial assets held by households in Japan at the March 31 end of fiscal 2020 rose 7.1 pct from a year before to hit a record high of 1,946 trillion yen, Bank of Japan data showed Friday.
Cash and deposits held by households increased, with many people becoming more budget-minded due to concerns over the future and the new coronavirus epidemic.
Higher stock prices also pushed up the market value of shares and investment trust funds held by them.
The BOJ revised past statistics on household financial assets using newly acquired data. The balance of such assets over the past year was revised down by some 10 trillion to 15 trillion yen, according to the central bank.
Of the total balance at the end of March, cash and deposits, which make up a majority of the household financial assets, grew 5.5 pct to 1,056 trillion yen.
[Copyright The Jiji Press, Ltd.]