Japan Household Financial Assets Hit Record High at End of FY 2021

Economy

Tokyo, June 27 (Jiji Press)--Financial assets held by households in Japan as of the March 31 end of fiscal 2021 increased 2.4 pct from a year before to 2,005 trillion yen, hitting a record high on a fiscal year-end basis, Bank of Japan data showed Monday.

The growth resulted from stagnant consumption amid the novel coronavirus pandemic and an increase in cash and deposits thanks to the Japanese government's cash handouts linked to the COVID-19 crisis.

The total balance was down slightly from 2,015 trillion yen at the end of December 2021, which reflected winter bonuses.

As of the end of March, the balance of cash and deposits rose 2.9 pct to 1,088 trillion yen. While shareholdings fell 0.6 pct to 204 trillion yen, investment trust funds climbed 10.4 pct to a record 91 trillion yen. Insurance products rose 0.8 pct to 381 trillion yen.

Nonfinancial private companies' financial assets at the end of fiscal 2021 grew 4.0 pct to a 1,253 trillion yen, a record high on a fiscal year-end basis. Of them, cash and deposits rose 1.5 pct to 323 trillion yen, reflecting companies' continued moves to keep funds at hand amid the pandemic.

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Jiji Press