Stocks Overtake Insurance, Pensions in Japanese Households' Portfolios

Japanese households' equity holdings have surpassed their insurance and pension assets for the first time on record, according to revised Bank of Japan figures. This shift in investor preferences coincides with a rally in the stock market, which has increased investors' risk appetite.

The latest data from the Bank of Japan show that household equity assets have exceeded those held in insurance and pensions. The revised flow-of-funds data was released on September 18, 2026.