MNI BRIEF: Japan’s H’hold Financial Assets Hit Record High

The balance of financial assets held by Japanese households stood at a record high of JPY2,199 trillion at the end of March, up 7.1% y/y and for the 16th straight quarterly rise, preliminary fund circulation data released by the Bank of Japan on Thursday showed.

The balance of cash and deposits held by Japanese households at the end of March stood at JPY1,118 trillion, up 1.1% from a year earlier.

The balance of cash and deposits accounted for 50.9% of the total financial assets, showing Japanese households continued refraining from buying financial assets.

Government bonds and Treasury bills held by the BOJ stood at JPY580 trillion at the end of March, down 0.2% y/y and accounting for 47.4% of total government debt, the single largest holder, down from 47.9% at the end of December.

The balance of government bonds and Treasury bills held by non-Japanese totaled JPY168 trillion at the end of March, down 3.7% y/y, and accounting for 13.7% of total government bonds, up from 13.3% at the end of December.