Japan's national wealth, or net assets, at the end of 2000 fell 0.6 percent from a year ago to 2.973 quadrillion yen, marking a third consecutive year of decline, the Cabinet Office said Tuesday.
The country's net assets failed to reach the 3 quadrillion yen mark for the second year in a row.
Heizo Takenaka, minister of economic and fiscal policy, submitted the national accounts for fiscal 2000 to a Cabinet meeting Tuesday morning.
The decline in national wealth was attributed to falling land prices and the stagnant growth of other assets, including manufacturing facilities, due to the sluggish economy, the office said.
National wealth decreased by 581 trillion yen from the end of 1990, when the asset-inflated bubble economy collapsed.
Land assets shrank 76 trillion yen from a year ago to 1.534 quadrillion yen, compared with 2.454 quadrillion yen at the end of 1990.
Stock assets declined 88 trillion yen to 414 trillion yen.
National income decreased 0.3 percent to 380 trillion yen in fiscal 2000, marking a first decline in two years.
The fall in national income followed a 0.2 percent increase in fiscal 1999.
Employees' salaries increased 1 percent in fiscal 2000, while corporate income shrank 5.3 percent. Property income grew 4.1 percent as the household sector increased savings and reduced debts to prepare for the future amid a series of corporate restructurings.
The per capita nominal gross domestic product in dollar terms at the end of 2000 grew 5.9 percent from a year earlier to $37,560, thanks to the yen's appreciation.
The dollar averaged 107.80 yen in 2000, compared with 113.90 yen in 1999.
Japan's per capita nominal GDP moved up to second from third in the previous year among Organization for Economic Cooperation and Development member countries. Luxembourg placed first.