The value of assets held by Japan’s wealthy and uber wealthy has risen to a record ¥469 trillion ($3.1 trillion), while assets held by the majority of people in the country have grown at a much slower pace, according to the Nomura Research Institute.
Between 2011 and 2023, the wealth of Japan’s rich and super rich more than doubled and tripled, respectively, while assets held by the masses, which account for roughly 80% of Japan’s households, only grew 42.2%, according to NRI’s report released Thursday.
That growing disparity in wealth largely reflected gains by stocks, which generally benefit higher-net-worth households. In 2023, the weak yen also likely pushed up the value of foreign assets held by rich Japanese households, the report noted.
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