Japan's Ministry of Finance published estimates of the year-end 2025 international investment position by factor, showing external assets at JPY 1,805.6 trillion and external liabilities at JPY 1,243.9 trillion. Japan's net international investment position stood at JPY 561.8 trillion, up JPY 23.7 trillion from end-2024. Asset growth was led by portfolio investment, up JPY 69.8 trillion, followed by direct investment at JPY 31.7 trillion, reserve assets at JPY 19.3 trillion and other investment at JPY 18.3 trillion. Liabilities rose mainly through portfolio investment, up JPY 94.2 trillion, and other investment, up JPY 17.6 trillion. The breakdown shows transactions were negative for both total assets and total liabilities, while exchange-rate effects and especially other changes lifted positions. Other changes mainly reflect stock and bond price movements and differences between balance of payments flow data and international investment position compilation. Of the year-end 2025 totals, JPY 1,350.7 trillion of assets and JPY 284.9 trillion of liabilities were denominated in foreign currencies.
Ministry of Finance (Japan)2026-05-26
Japan Ministry of Finance publishes estimates showing net international investment position rose to JPY 561.8 trillion at year-end 2025
Japan’s Ministry of Finance published year-end 2025 estimates of the international investment position, reporting external assets of JPY 1,805.6 trillion, external liabilities of JPY 1,243.9 trillion and a net position of JPY 561.8 trillion, up JPY 23.7 trillion from end-2024. Asset growth was driven mainly by portfolio and direct investment and by exchange-rate and other valuation effects, while liabilities rose largely through portfolio and other investment, with stock and bond price movements also affecting positions.