Business / Economy

Financial assets at households average ¥11.51 million

JIJI

Financial assets at households of two or more members in Japan averaged ¥11.51 million in a 2018 survey, unchanged from the previous year, the Central Council for Financial Services Information has said.

More responding families saw income growth on the back of wage and bonus hikes, while a rise in spending on durable goods such as automobiles was also cited by many households, the council said Friday.

After-tax incomes at surveyed households averaged ¥5.19 million, up from ¥4.87 million in the previous year’s survey, said the council, made up mainly of financial organizations including the Bank of Japan.

Deposits accounted for the largest part of household assets, at ¥5.05 million on average, followed by insurance policies at ¥3.82 million and securities at ¥2.21 million. Insurance policies increased by ¥990,000 and securities by ¥140,000, while deposits fell ¥1.18 million.

In the total assets, the share of deposits fell more than 10 percentage points to 43.9 percent, while insurance policies scored an increase of 8.6 points and securities 1.2 points.

The survey was conducted with 8,000 households nationwide between June and July, with valid answers given by 44.7 percent.