Japan’s national wealth up for second straight year in 2014


Japan’s national wealth at the end of 2014 totaled ¥3.11 quadrillion, up 2.0 percent from the year before and increasing for the second straight year, the Cabinet Office said Friday.

The growth in national wealth, or net assets owned by the country’s central and local governments, firms and individuals, came as the yen’s depreciation inflated the value of assets held abroad, the central government agency said.

Of the total, net external assets grew 12.6 percent to a record ¥366.9 trillion, up for the fourth consecutive year. But the total value of land assets in Japan fell 0.3 percent to ¥1.12 quadrillion, down for seven years in a row.

By sector, net assets at households rose 1.2 percent to ¥2.36 quadrillion, up for the third straight year, thanks to higher stock prices backed by the weaker yen.

In contrast, the central and local governments saw their debts exceed assets by ¥13.5 trillion, posting negative net worth for the fourth consecutive year.

Japan’s national wealth peaked at ¥3.53 quadrillion at the end of 1990.