Overview

• Japan’s net external assets climbed to 533.1 trillion yen in 2024, marking a 12.9% increase from the previous year.
• Germany overtook Japan with 569.7 trillion yen of net assets after posting a €248.7 billion current account surplus.
• Currency shifts boosted Japanese asset values as the dollar and euro strengthened 11.7% and 5% against the yen.
• Brisk overseas mergers and acquisitions by Japanese companies supported the growth in net external assets.
• Japan’s future ranking will hinge on whether its firms sustain increased foreign investment, particularly in the United States.