At the end of June 2026, Japanese households held financial assets of about 2,519 trillion yen. That is the largest figure since the series began at the end of 1997.
The number comes from the Bank of Japan’s Flow of Funds statistics, the preliminary release for the second quarter of 2026, published on 17 September 2026.
This article is written for individuals who want to review where their own money sits, using the same yardstick as the national statistics.
By the end you will know three things:
- what Japanese households hold, and in what proportions
- where the 251 trillion yen of growth over the past year came from
- a simple way to review your own assets the same way
These are preliminary figures and may be revised later. Trillion-yen figures are rounded from the 100-million-yen values in the Bank of Japan tables.
Household financial assets grew 11% in a year
The 2,519 trillion yen at the end of June is 4.7% higher in three months, up from about 2,406 trillion yen at the end of March, and 11.0% higher in a year, up from about 2,269 trillion yen at the end of June 2025.
Household borrowing, mostly housing loans, stood at about 416 trillion yen. Assets minus borrowing came to about 2,103 trillion yen, which also rose 12.5% over the year.
Keep in mind that this is the total for every household in Japan. It does not mean each person’s assets grew by the same amount. How much any one household gained depends heavily on what it held.
Nearly half sits in cash and deposits, which grew only 0.5%
The largest item by far is cash and deposits, at about 1,132 trillion yen, or roughly 45% of the total.
Cash and deposits grew by just 0.5% over the year. The increase of about 5 trillion yen is almost exactly the amount households newly deposited, because a deposit balance does not grow through price rises.
By contrast, price-moving assets such as investment funds came to about 679 trillion yen, up 43.9% in a year. Insurance and pensions stood at about 586 trillion yen, up 3.2%.
About 90% of the 251 trillion yen increase came from price gains and similar changes
Alongside balances, the Flow of Funds also reports transactions: how much households bought, sold, deposited or withdrew in each period.
Adding up the latest four quarters, households put in about 25 trillion yen of new money.
The remaining about 226 trillion yen was not the result of transactions. Most of it was the rising value of assets households already held.
Looking only at price-moving assets, the balance rose by about 207 trillion yen, but net purchases were only about 9 trillion yen.
What rises with prices can fall with prices. A record balance does not mean the same amount is safely locked in.
Money moved into equities: about 5 trillion yen of net selling in a year
The Bank of Japan’s equity category, which also includes shares in unlisted companies and other equity, came to about 486 trillion yen at the end of June, about 19% of household financial assets.
It rose 47.0% in a year, an increase of about 155 trillion yen.
Yet adding up the year’s transactions, households were net sellers of about 5 trillion yen of equities. Quarter by quarter, they sold on balance every time.
The balance rose despite the selling because prices added about 160 trillion yen. The money that actually moved into equities was far smaller than the growth in the balance suggests.
Investment funds moved the other way, with net purchases of about 14 trillion yen. Households sold equities they held directly while buying funds.
Would 100 trillion yen flowing into the equity market lift the Nikkei average to about 150,000 yen?
One view that circulates says that if 100 trillion yen of household deposits flowed into the equity market, the Nikkei average would reach about 150,000 yen. The Flow of Funds figures let us check what that view assumes.
At the end of June, the market value of all listed shares in Japan was about 1,386 trillion yen. 100 trillion yen is about 7% of that, and about 9% of household cash and deposits.
The Nikkei average closed at about 70,062 yen on 30 June, so 150,000 yen is about 2.1 times that level.
If the Nikkei moved in step with total market value, the market would have to gain about 1,580 trillion yen.
In other words, the view assumes that every yen flowing in raises market value by about 16 yen. In practice the Nikkei is calculated from 225 companies’ share prices and does not move exactly with total market value.
Market value can move by more than the money flowing in, because prices are set at the level where sellers are willing to let go.
How large that multiple is, though, changes with the period and with how sellers behave. There is no fixed multiple.
This article’s own figures show it. Households were net sellers of about 5 trillion yen of equities over the year, yet their holdings rose by about 155 trillion yen.
Overseas investors own about 35% of listed shares, so household money alone does not set prices.
The money a buyer pays goes to the seller; it does not pile up inside the market. And some investment funds invest abroad, so not all net fund purchases go into Japanese shares.
Worked figures by multiple: about 95,000 yen on the research estimate
A US study (Gabaix and Koijen, 2021) estimates that one dollar flowing into equities raises total market value by about five dollars.
Starting from end-of-June market value and the Nikkei’s end-of-June close, here is what the arithmetic gives for the Nikkei with 100 trillion yen of inflow under different multiples:
- multiple of 1 (market value rises only by the inflow): about 75,000 yen
- multiple of 5 (the US study’s estimate): about 95,000 yen
- multiple of about 16: 150,000 yen
Applying the research estimate gives a calculated value of about 95,000 yen. Reaching 150,000 yen would need a multiple more than three times that.
The calculation assumes the 100 trillion yen arrives within a short period and nothing else changes.
Company earnings, interest rates and overseas investors’ trading can move the actual level a great deal. This is not a forecast, and it is not advice to buy or sell.
Foreign assets also rose sharply in yen terms
Foreign securities held by households came to about 53 trillion yen, up 31.2% in a year.
Net purchases over the year were only about 0.3 trillion yen, so nearly all of the growth was a change in their value measured in yen.
Foreign currency deposits were about 8 trillion yen, up 6.1%. Money held outside the yen is still only a few percent of the total.
The yen value of foreign assets moves with prices abroad and also with the exchange rate. A weaker yen raises it; a stronger yen lowers it.
Reviewing your own assets with the same yardstick
Laying out your own assets the way the statistics do shows quickly where they are concentrated.
- split your assets into cash and deposits, price-moving assets, insurance and pensions, and anything held outside the yen
- put last year’s figures next to this year’s and work out the percentage change for each
- split each increase into money you put in and change in value
- check how much you hold outside the yen, and how much would disappear if prices fell
The third step matters most. Once you subtract the money you added, what is left is the part that came from price changes. That part can shrink by the same amount if prices fall.
Here is a worked example. Say an investment fund went from 1 million yen to 1.5 million yen over the year, and you bought 300,000 yen more of it along the way.
Of the 500,000 yen increase, only 200,000 yen came from price gains.
Now say a deposit went from 3 million yen to 3.1 million yen, and you paid in 100,000 yen. Its price gain is zero. Side by side, the two show that only the fund can shrink when prices fall.
The comparison that matters is how much each part could lose, not how fast it has grown.
✅ What tends to work
Compare the same month-end each year. The Bank of Japan publishes its June figures every September, so an annual review at the end of June lines up with the national data.
⚠️ Common pitfalls
Counting money you added as growth. Deposits only grow by what you put in, so this makes them look weaker than they are and makes everything else look stronger.
Crypto does not appear in these statistics
The household financial asset tables have no line for crypto assets (checked in this preliminary release). If you hold crypto, you need to convert it to yen and add it yourself to your own asset list.
When you convert, match the date. If you are comparing end-of-June figures, use end-of-June prices. Crypto prices move a lot, so a difference of a few days can change the total noticeably.
Treat crypto as a price-moving asset in your list. If it is priced in dollars, the exchange rate moves its yen value too, just as it does for foreign securities.
That includes dollar-linked tokens such as USDC. Measured in yen, they move by the change in the exchange rate even when their dollar price stays put.
Frequently asked questions
Q. How much is that per person?
This article does not calculate it. An average from dividing the total by the population is pulled up by those who hold a great deal, and it drifts away from what a typical household looks like.
Q. When do the next figures come out?
The Flow of Funds is published quarterly, about three months after each quarter ends. The figures for the end of September usually appear in December.
Q. Should I reduce my deposits?
This article explains the statistics and does not recommend any particular asset. A useful starting point is to separate money you will need soon from money that can wait out a fall in prices.
Summary
- household financial assets reached about 2,519 trillion yen at the end of June 2026, up 11.0% in a year
- about 45% is in cash and deposits, which grew only 0.5%
- of the roughly 251 trillion yen increase, only about 25 trillion yen was new money
- review your own assets by separating money you put in from changes in value
💡 To add the crypto the statistics leave out, in yen
Crypto Rate Viewer converts between Japanese yen and crypto and shows price charts in yen. There is nothing to sign up for and no login.
Sources: Bank of Japan, Flow of Funds, preliminary figures for 2026 Q2 (published 17 September 2026); Bank of Japan time-series data, household financial assets (checked on 26 September 2026).
Trillion-yen figures are rounded. This is not advice to buy or sell.
On 9 October 2026 the wording of the worked-figures section was revised. No figures were retrieved again.
Categories