International Investment Position of Japan

Assets					Liabilities
1. Direct Investment				31,216	1. Direct Investment				3,013
2. Portfolio Invenstment				122,719	2. Portfolio Invenstment				73,673
	Equity Securities			24,205		Equity Securities			35,181
		Public Sector		0
		Banks		2,016			Banks		2,268
		Other Sectors		22,188			Other Sectors		32,913
	Debt Securities			98,515		Debt Securities			38,492
		Bonds and Notes		94,278			Bonds and Notes		27,796
			Public Sector	8,564				Public Sector	18,319
			Banks	21,614				Banks	758
			Other Sectors	64,101				Other Sectors	8,718
		Money Market Instruments		3,648			Money Market Instruments		10,170
			Public Sector	12				Public Sector	10,168
			Banks	928				Banks	2
			Other Sectors	2,708				Other Sectors	0
		Financial Derivatives		589			Financial Derivatives		525
			Public Sector	0				Public Sector	0
			Banks	425				Banks	365
			Other Sectors	164				Other Sectors	161
3. Other Investment				166,335	3. Other Investment				135,173
	Loans			122,464		Loans			105,493
		Public Sector		17,168			Public Sector		0
		Banks		81,632			Banks		63,010
		Other Sectors		23,665			Other Sectors		42,483
		[Long-Term]		45,888			[Long-Term]		21,425
		[Short-Term]		76,576			[Short-Term]		84,068
	Trade Credits			6,371		Trade Credits			1,250
		Public Sector		1,099			Public Sector		0
		Other Sectors		5,272			Other Sectors		1,250
		[Long-Term]		4,120			[Long-Term]		124
		[Short-Term]		2,251			[Short-Term]		1,126
	Currency and Deposits			9,864		Currency and Deposits			14,807
		Public Sector		0			Public Sector		8
		Banks		9,098			Banks		14,799
		Other Sectors		766
	Other Assets			27,636		Other Liabilities			13,624
		Public Sector		4,410			Public Sector		1,116
		Banks		10,544			Banks		9,053
		Other Sectors		12,683			Other Sectors		3,454
		[Long-Term]		17,258			[Long-Term]		325
		[Short-Term]		10,378			[Short-Term]		13,299
4. Reserve Assets				24,862
Assets Total				345,132	Loabilities Total				211,859
					Net Assets Total				133,273
					Public Sector				26,502
					Private Sector				106,771
					(Banks)				(36,001)

Assets				End of 1997	End of 1998	Chenges from previous year-end	Liabilities				End of 1997	End of 1998	Chenges from previous year-end
1.Direct Investment				35,334	31,216	- 4,118	1.Direct Investment				3,519	3,013	- 506
2.Portfolio Invenstment				117,821	122,719	4,899	2.Portfolio Invenstment				76,226	73,673	- 2,554
	Equity Securities			20,632	24,205	3,572		Equity Securities			36,326	35,181	- 1,145
		Public Sector		0	0	0
		Banks		3,539	2,016	- 1,523			Banks		2,591	2,268	- 323
		Other Sectors		17,093	22,188	5,096			Other Sectors		33,735	32,913	- 822
	Debt Securities			97,188	98,515	1,326		Debt Securities			39,901	38,492	- 1,409
		Bonds and Notes		92,545	94,278	1,733			Bonds and Notes		31,821	27,796	- 4,025
			Public Sector	8,385	8,564	179				Public Sector	18,925	18,319	- 606
			Banks	23,775	21,614	- 2,161				Banks	764	758	- 5
			Other Sectors	60,386	64,101	3,715				Other Sectors	12,132	8,718	- 3,413
		Money Market Instruments		4,071	3,648	- 423			Money Market Instruments		7,547	10,170	2,623
			Public Sector	38	12	- 27				Public Sector	7,278	10,168	2,890
			Banks	1,085	928	- 157				Banks	166	2	- 164
			Other Sectors	2,947	2,708	- 239				Other Sectors	103	0	- 103
		Financial Derivatives		572	589	16			Financial Derivatives		533	525	- 8
			Public Sector	0	0	0				Public Sector	0	0	0
			Banks	430	425	- 5				Banks	367	365	- 2
			Other Sectors	142	164	22				Other Sectors	166	161	- 5
3.Other Investment				173,884	166,335	- 7,549	3.Other Investment				151,400	135,173	- 16,226
	Loan			125,892	122,464	- 3,428		Loan			117,352	105,493	- 11,860
		Public Sector		15,734	17,168	1,434			Public Sector		0	0	0
		Banks		87,495	81,632	- 5,863			Banks		65,120	63,010	- 2,110
		Other Sectors		22,664	23,665	1,001			Other Sectors		52,232	42,483	- 9,749
		[Long-Term]		48,108	45,888	- 2,219			[Long-Term]		23,726	21,425	- 2,302
		[Short-Term]		77,785	76,576	- 1,209			[Short-Term]		93,626	84,068	- 9,558
	Trade Credit			6,690	6,371	- 320		Trade Credit			1,482	1,250	- 232
		Public Sector		1,077	1,099	22			Public Sector		0	0	0
		Other Sectors		5,614	5,272	- 341			Other Sectors		1,482	1,250	- 232
		[Long-Term]		4,531	4,120	- 411			[Long-Term]		123	124	1
		[Short-Term]		2,159	2,251	92			[Short-Term]		1,359	1,126	- 233
	Currency and Deposit			17,434	9,864	- 7,570		Currency and Deposit			23,351	14,807	- 8,544
		Public Sector		0	0	- 0			Public Sector		1	8	6
		Banks		16,600	9,098	- 7,502			Banks		23,350	14,799	- 8,551
		Other Sectors		834	766	- 68
	Other Assets			23,867	27,636	3,769		Other Liabilities			9,214	13,624	4,410
		Public Sector		4,283	4,410	126			Public Sector		1,316	1,116	- 200
		Banks		7,849	10,544	2,695			Banks		4,349	9,053	4,704
		Other Sectors		11,735	12,683	947			Other Sectors		3,549	3,454	- 95
		[Long-Term]		16,024	17,258	1,234			[Long-Term]		309	325	16
		[Short-Term]		7,843	10,378	2,535			[Short-Term]		8,905	13,299	4,394
4.Reserve Assets				28,693	24,862	- 3,831
Assets Total				355,731	345,132	- 10,599	Loabilities Total				231,145	211,859	- 19,286
							Net Assets Total				124,587	133,273	8,687
							Public Sector				30,690	26,502	- 4,187
							Private Sector				93,897	106,771	12,874
							(Banks)				(44,066)	(36,001)	(- 8,065)

	End of 1995	1996	1997	1998
Net assets	84,072	103,359	124,587	133,273

	End of 1986	1987	1988	1989	1990	1991	1992	1993	1994
Net assets	28,865	30,199	36,745	42,543	44,016	47,498	64,153	68,823	66,813