Japan’s national wealth has grown for eight consecutive years

The annual national economic accounting estimates (stock) released by the Cabinet Office on January 20 show that Japan’s overall net assets (national wealth) will be 4158.4 trillion yen by the end of 2023. An increase of 161.9 trillion yen (4.1%) from the end of 2022. Japan’s national wealth has grown for eight consecutive years, reaching its highest level since 1994, when comparable data was available. Factors such as rising land prices and rising stock markets have had a positive impact on the increase in financial asset valuations.

National wealth refers to the total amount obtained by subtracting liabilities from assets (housing, factories, land, etc. plus financial assets), indicating the total amount of wealth accumulated nationwide. It is calculated by adding together data from households, businesses, governments, etc. It is announced by the Cabinet Office of Japan as part of gross domestic product (GDP) statistics.