Japanese Savers Have a Quadrillion Yen Stashed Away. Here’s How Much That Is
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As Japanese equities soar to record highs after a decadeslong slump, the government is now trying to encourage retail investors to put their one quadrillion yen in cash savings to work in the stock market.
The latest Bank of Japan quarterly survey showed that households still have over 1,000,000,000,000,000 yen, approximately $7 trillion, in cash and savings as of the end of December. A quadrillion is about the same as the total number of stars in 10,000 Milky Ways, or the number of cells in the bodies of 28 adult men, by one estimate.