Personal debt is overwhelming an increasing number of Japanese as higher interest rates and the rising cost of living bite. Consumer loans are rising at the highest rate in 16 years. Household borrowing exceeded incomes for the first time last year. And government officials are worried that many people accustomed to rock-bottom rates will struggle with their mounting loans.
While Japan is by no means alone in confronting a debt problem, salaries are the lowest of Group-of-Seven countries, and the central bank is raising borrowing costs while its peers cut them.
Lawyers estimate that personal bankruptciesâalready the highest since the pandemicâare on track to reach the most since 2012 this year. And in a tragic turn, suicides related to debt are also climbing.
The problem is all the more remarkable given that the country is better known for savers stashing cash under the mattress rather than piling into debt.
Yet average household debt rose to ¥6.55 million (about 769,000) in 2023, higher than incomes, government data showed.
Take the case of a Tokyo-based medical worker who filed for personal bankruptcy last year after her consumer loans reached about ¥11 million.
ãã®èšäºã¯ The Citizen ã® December 23, 2024 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã9,000 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã ?  ãµã€ã³ã€ã³
ãã®èšäºã¯ The Citizen ã® December 23, 2024 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã9,000 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã? ãµã€ã³ã€ã³
Heritage rescheduled at Vaal
Strydom the jockey to follow on rest of the card.
Quitting on TV: good or bad?
Clinton Larsen became the second coach to quit live on television this season on Saturday.
Sharks make a move in the URC
The Sharks made their move up the United Rugby Championship (URC) table with a breathtaking derby win over the Bulls in Durban, while the Stormers returned to winning ways with a comfortable victory over the Lions in Cape Town.
PINK PROTEAS PLUCKED
ODI: KLAASEN HEROICS NOT ENOUGH AS PAKISTAN SECURE 3-0 WHITEWASH
Larsen quits after Cup loss
Magesi FC head coach Clinton Larsen announced his resignation live on television after his side were beaten 3-0 by the Carling All Stars in the Carling Cup on Saturday at Orlando Stadium.
Usyk maintains perfect record
GREATEST: UKRAINIAN PRAISES HIS 'BEST FRIEND' FURY
Tai hopes to keep cool at Masters
Singapore - Amateur Hiroshi Tai cites Green Jacket winners Hideki Matsuyama and Scottie Scheffler among his golfing heroes and is hoping \"not to be in awe\" of them when he becomes the first Singaporean to tee off at the US Masters in April.
Pep: we will come right eventually
Birmingham - Manchester City manager Pep Guardiola insisted his struggling Premier League champions will regain their confidence after a 2-1 defeat by Aston Villa on Saturday meant they had lost nine of their last 12 matches in all competitions.
Hot Liverpool hit Spurs for six
EPL: MAN UNITED WELL BEATEN AS EVERTON HOLD BLUES
Blue chips ditching ESG
LOANS: 'STILL COMMITTED TO GOVERNANCE'