The cost of raising a child in Tokyo from birth to college graduation now ranges from 28.59 million yen to 63.01 million yen, AIU Insurance Co. said Monday.
Basic costs add up to about 16.8 million yen, including 7.02 million yen for food and 4.69 million yen in pocket money, the U.S.-affiliated insurance company said. The estimates were based on the findings of a survey conducted in Tokyo.
Education costs are held to a minimum of 11.79 million yen if a child attends public institutions from kindergarten to university. At the other end of the scale, costs rise significantly -- to a maximum of 46.21 million yen -- if a child attends private institutions from kindergarten to high school, and then continues on to a private medical or dental college.
Given Japan's declining birthrate, the costs associated with child-rearing will continue to rise, a spokesman for AIU Insurance said.