Tokyo, June 25 (Jiji Press) – Financial assets held by households in Japan at the end of fiscal 2020 increased 7.1% from the previous year to a record high of 1.946 trillion yen, according to Bank of Japan data on Friday.
Cash and deposits held by households have increased, with many people becoming more budget conscious amid concerns about the future and the novel coronavirus outbreak.
Rising stock prices have also pushed up the market value of stocks and the investment funds they hold.
The BOJ revised previous statistics on household financial assets using newly acquired data. The balance of those assets over the past year has been revised down from some 10,000 billion yen to 15 trillion yen, according to the central bank.
Of the total balance at the end of March, cash and deposits, which make up the majority of household financial assets, rose 5.5% to 1.056 trillion yen.
[Copyright The Jiji Press, Ltd.]