Household assets hit record high in FY 2021

Yomiuri Shimbun file photo

TOKYO (Jiji Press) — Financial assets held by households in Japan as of the March 31 end of fiscal 2021 increased 2.4% from a year before to ¥2,005 trillion, 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 government’s cash handouts linked to the COVID-19 crisis. The total balance was down slightly from ¥2,015 trillion at the end of December 2021, which reflected winter bonuses.

At the end of March, the balance of cash and deposits rose 2.9% to ¥1,088 trillion. Shareholdings fell 0.6% to ¥204 trillion and investment trust funds climbed 10.4% to a record ¥91 trillion. Insurance products rose 0.8% to ¥381 trillion.

Nonfinancial private companies’ financial assets at the end of fiscal 2021 grew 4.0% to a ¥1,253 trillion, a record high on a fiscal year-end basis. Of them, cash and deposits rose 1.5% to ¥323 trillion.