MNI BRIEF: Japan Household Financial Assets At Record End Q1

The balance of financial assets held by Japanese households posted a record high of JPY2,005 trillion at the end of March 2022 on a fiscal year end basis, up 2.4% y/y and the eighth straight quarterly rise, preliminary fund circulation data released by the Bank of Japan on Monday showed.

The balance of cash and deposits held by Japanese households at the end of March stood at JPY1,088 trillion, up 2.9% from a year earlier. Japan's fiscal year ends on March 31. The balance of cash and deposits accounted for 54.3% of the total financial assets.

Government bonds held by the BOJ stood at JPY531 trillion at the end of March, down 2.0% y/y and for the third consecutive drop, and accounting for 43.31% of total government debt, the single largest share and down from 43.39% at the end of December 2021.

The balance of government bonds held by non-Japanese totaled JPY167 trillion at the end of March, up 3.5% y/y and accounting for 13.6% of total government bonds, down from 14.4% at the end of December.