About 953,000 households, or 1.8% of Japan’s total, can be classified as affluent—with savings, property and other assets valued at ¥100–500 million. In addition, some 54,000 households worth more than ¥500 million account for the rarefied 0.1% super-affluent sector of society. Their lifestyles and spending patterns, in sharp contrast with those of the hoi polloi, are eagerly studied by marketers seeking to meet their demands.
So reports the tabloid Nikkan Gendai—which ran a five-part series on wealth in Japan during the week commencing 10 October—have been eagerly studied. The Nomura Research Institute has calculated that, as of 2013, the average household comprised 2.49 individuals, meaning that roughly 2.5mn people in Japan have financial assets of at least ¥100 million.
“Those who are born into affluence are quite different from the nouveau riche and have little interest in items such as Chanel or Hermès brand goods”, said journalist Yuta Nakamori. “Their lifestyles are rather modest and they may reside in a rented condominium. They accumulate savings and don’t really perceive themselves as being wealthy”.
Hiroshi Mikitani, the Rakuten Ichiba shopping portal founder, whose wealth is estimated at over ¥1 trillion, has been ranked the world’s 19th richest person. Mikitani drives a Mercedes-Maybach valued at ¥40 million.
“Mikitani bought a golf course in Gunma Prefecture through a holding company and built an expansive home next to the 18th hole”, according to a source in the financial industry. “Susumu Fujita, founder and president of Cyber Agent, Inc. owns a place nearby. Tadashi Yanai of Fast Retailing (holding firm of Uniqlo) is also said to considering purchasing a course in Hawaii. The affluent are never far from the golf scene, it seems”.
Not surprisingly, the affluent also enjoy the privileges of top-quality medical care. For a joining fee of ¥2.34 million, and an annual charge of ¥540,000, they can become members of the Grand Himedic Club, which has ties to the University of Tokyo Hospital and other top-rated medical facilities.
In the final instalment, Nikkan Gendai noticed that one of the easiest ways to move up into the moneyed class is through marriage to a member thereof. Noting that, over the past half century, the number of women attending medical school has roughly doubled in Japan, the tabloid observed that female physicians court the sons of the wealthy at organised matchmaking parties.
FAQs
About 953,000 households, or 1.8% of Japan's total, can be classified as affluent—with savings, property and other assets valued at ¥100–500 million.
How many Japanese are rich? ›
In 2022, there were close to 2.6 million high net worth individuals (HNWI) with a net worth of one to five million U.S. dollars in Japan, compared to 77 individuals with a net worth of over 500 million dollars. Japan has a population of 125.85 million.
Are there a lot of rich people in Japan? ›
One in every 17 Japanese households, in fact, has over a million dollars in disposable assets. On average, Japan's HNWIs are worth around US$2.5 million, and collectively held US$7.7 trillion in assets in 2017, compared to the US$6.5 trillion their Chinese counterparts possessed.
How rich is the average Japanese? ›
In 2022, the median wealth per adult in Japan amounted to around 103.7 thousand U.S. dollars, down from 117.1 thousand dollars in the previous year. Financial assets of households in Japan exceeded 2,000 trillion Japanese yen in 2022, with cash and deposits accounting for more than 50 percent.
How many millionaires are in Japan? ›
What percent of Japan is wealthy? ›
About 953,000 households, or 1.8% of Japan's total, can be classified as affluent—with savings, property and other assets valued at ¥100–500 million. In addition, some 54,000 households worth more than ¥500 million account for the rarefied 0.1% super-affluent sector of society.
What percent of Japan are millionaires? ›
Japan has 5.4% of the world's millionaires as of 2021. It has 3.16 million high-net-worth individuals, which is significant when considering its population of 125.85 million.
Is Japan more wealthy than the US? ›
The country is the third-largest in the world by total wealth. Japan formerly had the second-largest assets and wealth, behind only the United States in both categories, until it was surpassed by China in both assets and wealth. Japan also had the world's second-largest economy by nominal GDP behind the United States.
Is Japan rich than USA? ›
Here are the 10 richest countries in the world: United States: $18.62 Tn 🇺🇸 China: $11.22 Tn 🇨🇳 Japan: $4.94 Tn 🇯🇵
What is upper class income in Japan? ›
In 2021, the highest salary-earning households in Tokyo Prefecture made over 1.8 million Japanese yen on average per month. By comparison, the gross income of the lowest-paid households in the prefecture amounted to around 162.8 thousand yen a month.
USA. The average cost of living in Japan for one person is $1,200 a month, while in the USA it's $2,213 a month. For a family to live in Japan, it costs $3,051 a month on average, compared to $5,003 in the United States.
How much is rent in Japan? ›
The nationwide average monthly rent, not including utilities, for a one room apartment (20-40 square meters) is between 50,000 and 70,000 yen. Rent for similarly sized apartments in central Tokyo and popular neighbourhoods nearby usually start from around 100,000 yen.
What makes Japanese rich? ›
Manufacturing has been the most remarkable, and internationally renowned, feature of Japan's economic growth. Today, Japan is a world leader in the manufacture of electrical appliances and electronics, automobiles, ships, machine tools, optical and precision equipment, machinery and chemicals.
Is Japan mostly poor middle class or wealthy? ›
An astonishing fact: 92 percent of Japanese consider themselves middle-class, according to a labor ministry report published in 2019.
Is a net worth of 4 million considered rich? ›
To feel wealthy, Americans say you need a net worth of at least $2.2 million on average, according to financial services company Charles Schwab's annual Modern Wealth Survey.
What country has the most rich people? ›
The United States is the country with the most billionaires, with a total of 724 individuals holding a net worth of about $4.4 trillion. The country has a long history of entrepreneurship and innovation, with many of the world's largest and most successful companies based in the United States.
What is the ratio of poor to rich in Japan? ›
According to data from the United Nations, the ratio of the average income of the richest 10% in Japan to the poorest 10% is 4.5x. That is the lowest of all the countries in the database. Measured by wealth, it's even better. Japan's Prime Minister Fumio Kishida.
Who are richer Japanese or Chinese? ›
Download Table Data
| Country | GDP (IMF '20) | Per Capita |
|---|
| China | $14.86 Tn | $7,868,771 |
| Japan | $5.04 Tn | $40,035,941 |
| India | $2.67 Tn | $1,581,687 |
| South Korea | $1.64 Tn | $27,252,510 |
45 more rows“The standard of living has increased steadily over the past forty years; more than 90 percent of the people consider themselves middle class and reasonably happy about their life.”
