Tokyo courts foreign asset managers to unlock 1,830 trillion yen trove
Japanese households are now more open to investments, and Tokyo wants to ease the entry of foreign asset managers into the city to accelerate this shift
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HOUSEHOLDS in Japan have accumulated a whopping 1,830 trillion yen (S$22.6 trillion) in assets as at end-2018, of which 984 trillion yen, or over half, is held as bank deposits and cash.
But faced with an ageing society and negative rates, traditionally risk-averse Japanese are growing more open to long-term investments. And the Tokyo Metropolitan Government (TMG) wants to ease the entry of foreign asset managers into the city to accelerate this shift.
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