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Japanese households save money to make investments

Tokyo / DPA

Japan’s consumer spending is lagging as households prefer savings over investments, despite an upward trend in personal income due to improved employment conditions, according to a Bank of Japan survey.
The total amount of financial assets possessed by individuals in cash or savings hit a record high of 902 trillion yen (US$7.98 trillion) at the end of 2015, up 12 trillion yen, or 1.3 per cent, from a year before, according to the central bank’s preliminary report on the flow of funds from October to December 2015.
The report showed that households’ financial assets as of the end of December amounted to 1.74 quadrillion yen, up 29 trillion yen, or 1.7 per cent, from a year ago, hitting the highest level ever.

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