Net external assets owned by governments, companies and individuals in Japan at the end of 2021 increased 15.8 pct from a year before to a record 411,184.1 billion yen, according to the Finance Ministry. The net external assets, or total overseas assets minus external debts, expanded mainly because the value in yen terms of foreign currency-denominated assets swelled owing to the Japanese currency's depreciation. The size of increase was also the largest on record. Japan remained as the world's largest creditor in terms of net external assets for 31 years in a row. Foreign exchange fluctuations pushed up net external assets by some 62 trillion yen.
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