The balance of foreign direct investment in Japan stood at ¥30.7 trillion at the end of 2018, topping ¥30 trillion for the first time ever, the Japan External Trade Organization said Wednesday.

According to JETRO, the balance increased ¥1.8 trillion from a year earlier due to a series of large-scale merger and acquisition deals, including Toshiba Corp.’s ¥2 trillion sale of its semiconductor unit to a consortium led by U.S. investment fund Bain Capital.

The government-affiliated organization’s promotion of direct investment in local regions also helped the balance grow, it said.

JETRO Chairman Nobuhiko Sasaki pointed out at a news conference that behind the expansion of foreign investment was the country’s stable political and social systems.

“By highlighting the favorable investment environment, we aim to attract more foreign funds to reinvigorate the Japanese economy,” he said.

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