MNI BRIEF: Japan H’hold Assets at JPY2,195 Trln End-March

The balance of financial assets held by Japanese households stood at JPY2,195 trillion at the end of March, up 0.3% y/y, but down from the record JPY2,230 trillion seen at the end of December, preliminary fund flow data released by the Bank of Japan on Friday showed.

Cash and deposits held by households totaled JPY1,120 trillion, rising 0.1% y/y, and accounted for 51.0% of total household financial assets, underscoring continued reluctance by Japanese households to invest in financial products.

Meanwhile, the Bank of Japan remained the largest single holder of JGBs and Treasury bills, with holdings of JPY547 trillion, down 5.7% y/y, accounting for 46.0% of total government debt, slightly lower than 46.3% at the end of September.

Foreign investors held JPY138 trillion in JGBs and Treasurys, a decline of 13.3% y/y, representing 11.6% of total government debt, up from 11.3% at the end of December.