Japan's International Investment Position at Year-End 2008
Japan's international investment position (IIP) recorded net assets -- i.e., external financial assets of residents in Japan minus external financial liabilities of residents in Japan -- of 225.5 trillion yen at year-end 2008. This represents a decrease of 24.7 trillion yen or 9.9 percent from the previous year-end, marking the first decrease in three years. The decrease was mainly due to a large decline in the yen value of foreign currency-denominated assets resulting from the significant appreciation of the yen.