Total assets held by the Bank of Japan rose to ¥714.56 trillion in fiscal 2020, the central bank's data showed Thursday, quadrupling in eight years under Gov. Haruhiko Kuroda's aggressive monetary easing policy and growing to 1.3 times the size of the country's economy.

Massive purchases of assets such as Japanese government bonds as part of ultraloose monetary policy and increased funding support for companies reeling from the COVID-19 pandemic expanded the BOJ's balance sheet in the year through March 31.

At the end of March 2013, before embarking on a raft of bold monetary easing steps under Kuroda, the BOJ's total assets stood at ¥164 trillion.