The following statistics update the data on the Association’s website.
URL http://www.jsda.or.jp/shiryo/toukei/factbook/index.html
Economy and Market Trends
Statistical Data
1 Economic Overview
Nominal GDP, Real GDP and Real GDP Growth Rate
（Billion yen, ％）
CY, Quarterly Nominal GDP Real GDP Real GDP
Growth Rate Private demand Public demand Net exports
2001
1Q 514,180 480,113 0.6 0.6 0.4 －0.4
2Q 508,750 479,234 －0.2 0.1 －0.1 －0.1
3Q 501,168 473,973 －1.1 －1.1 0.0 0.0
4Q 498,990 473,406 －0.1 －0.3 0.1 0.1
2002
1Q 498,902 472,389 －0.2 －0.7 0.0 0.4
2Q 498,542 477,288 1.0 0.5 0.1 0.5
3Q 499,852 480,346 0.6 0.8 0.1 －0.2
4Q 500,042 482,045 0.4 0.3 －0.2 0.2
2003
1Q 493,936 479,670 －0.5 －0.4 －0.2 0.1
2Q 500,570 485,500 1.2 0.7 0.2 0.3
3Q 500,526 487,516 0.4 0.3 －0.1 0.2
4Q 501,490 492,402 1.0 0.8 －0.2 0.3
2004
1Q 504,979 497,465 1.0 0.4 0.3 0.4
2Q 503,675 497,616 0.0 0.2 －0.4 0.2
3Q 503,722 498,198 0.1 0.3 0.0 －0.2
4Q 502,570 496,883 －0.3 0.0 －0.1 －0.1
2005
1Q 500,892 498,148 0.3 0.2 0.0 0.0
2Q 505,386 504,609 1.3 1.2 －0.3 0.4
3Q 505,143 506,241 0.3 0.2 0.1 0.1
4Q 504,678 507,309 0.2 －0.2 －0.1 0.5
2006
1Q 505,265 509,401 0.4 0.3 0.1 0.1
2Q 505,768 511,618 0.4 0.5 －0.1 0.1
3Q 504,720 511,219 －0.1 －0.2 －0.2 0.3
4Q 511,146 517,894 1.3 1.2 0.0 0.1
2007
1Q 513,792 522,717 0.9 0.6 0.0 0.3
2Q 514,878 523,695 0.2 －0.1 0.1 0.2
3Q 510,716 521,771 －0.4 －0.8 －0.1 0.5
4Q 512,364 526,337 0.9 0.3 0.2 0.3
2008
1Q 513,293 529,375 0.6 0.5 －0.2 0.3
2Q 506,038 523,522 －1.1 －0.8 －0.5 0.1
3Q 496,972 518,037 －1.0 －1.1 0.0 0.0
4Q 488,155 501,111 －3.3 －0.4 0.1 －2.9
2009
1Q 468,080 480,610 －4.1 －3.2 0.3 －1.2
2Q 472,742 489,274 1.8 －0.6 0.5 1.9
3Q 469,513 489,572 0.1 －0.7 0.2 0.5
4Q 474,030 498,173 1.8 0.9 0.2 0.7
2010
1Q 479,752 505,196 1.4 0.9 0.0 0.6
2Q 482,754 510,932 1.1 1.1 0.0 0.0
3Q 486,851 518,459 1.5 1.3 0.1 0.1
4Q 481,785 515,898 －0.5 －0.4 0.0 －0.1
2011
1Q 471,356 505,816 －2.0 －1.4 －0.2 －0.3
2Q 464,930 502,684 －0.6 0.2 0.3 －1.1
3Q 475,291 516,064 2.7 1.8 －0.1 0.9
4Q 475,836 517,524 0.3 1.1 －0.2 －0.7
2012
1Q 480,705 522,341 0.9 0.2 0.6 0.1
2Q 476,123 520,100 －0.4 0.2 －0.1 －0.4
3Q 472,766 517,592 －0.5 0.0 0.0 －0.5
4Q 472,677 517,463 0.0 0.0 0.1 －0.1
2013
1Q 476,429 522,652 1.0 0.2 0.3 0.5
2Q 478,458 526,062 0.7 0.5 0.3 －0.1
3Q 481,260 528,687 0.5 0.6 0.2 －0.3
4Q 481,144 528,355 －0.1 0.4 0.1 －0.5
2014
1Q 487,471 534,980 1.3 1.6 －0.1 －0.2
2Q 487,543 523,996 －2.1 －2.6 －0.2 0.8
3Q 483,757 520,793 －0.6 －0.9 0.2 0.1
4Q 488,259 523,598 0.5 0.1 0.1 0.3
2015
1Q 498,105 529,917 1.2 1.1 0.0 0.1
2Q 498,147 527,679 －0.4 －0.1 0.1 －0.4
3Q 501,044 530,246 0.5 0.3 0.0 0.2
4Q 499,687 527,922 －0.4 －0.5 0.0 0.1
2016 1Q 503,574 530,590 0.5 0.2 0.2 0.1
2Q 504,745 530,845 0.0 0.2 0.1 －0.3
Notes: 1. Data is seasonally adjusted.
2. Breakdown categories indicate contribution ratios.
3. Data published on August 15, 2016.
Source: Japanese Cabinet Office
Statistical Data
Indexes of Business Conditions (Composite Indexes)
Corporate Proits (all industries and all scales of business)
FY 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Ordinary proits
(Trillion yen) 28.2 31.0 36.1 44.7 51.6 54.3 53.4 35.4 32.1 43.7 45.2 48.4 59.6 64.5 69.1 Ratio of ordinary
proits to sales (%) 2.1 2.3 2.7 3.1 3.4 3.5 3.4 2.4 2.3 3.2 3.3 3.5 4.2 4.5 5.3 Return on equity
(%) －0.1 1.8 3.9 4.5 5.9 6.3 5.6 1.5 1.9 3.7 3.8 4.5 6.7 6.9 －
Notes: 1. FY2015 ordinary profits and the ratio of ordinary profits to sales are on a preliminary report basis.
2. FY2015 return on equity is not yet published.
3. Ordinary profits, the ratio of ordinary profits to sales, and return on equity exclude performances of the banking and insurance industries.
Source: Ministry of Finance
Consumer Price and Corporate Goods Price Indices
(%)
CY 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Consumer Price Index
(excluding fresh food) －0.8 －0.9 －0.3 －0.1 －0.1 0.1 0.0 1.5 －1.3 －1.0 －0.3 －0.1 0.4 2.6 0.5 Corporate Goods
Price Index －2.3 －2.1 －0.9 1.3 1.6 2.2 1.8 4.6 －5.3 －0.1 1.5 －0.9 1.3 3.2 －2.3
Note: Annual average (year on year).
Sources: Ministry of Internal Affairs and Communications, Bank of Japan
Employment Conditions
CY 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Unemployment Rate
(%) 5.0 5.4 5.2 4.7 4.4 4.1 3.8 4.0 5.1 5.1 4.6 4.3 4.0 3.6 3.4 Job-ofers to
Seekers Ratio
(excluding new school graduates but including part-time workers) (Times)
0.59 0.54 0.64 0.83 0.95 1.06 1.04 0.88 0.47 0.52 0.65 0.80 0.93 1.09 1.20
CY 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Leading Index 87.8 94.5 101.2 107.9 111.3 111.1 106.2 83.1 96.2 100.6 100.2 97.7 110.0 103.0 99.1 Coincident Index 96.2 102.7 110.3 113.4 117.5 120.1 118.6 92.9 93.9 102.2 106.4 103.3 113.5 112.4 110.4 Lagging Index 102.4 103.2 109.9 114.7 117.3 122.9 126.2 112.8 97.7 101.4 104.3 104.4 107.9 113.2 113.7
Notes: 1. 2010 average = 100
2. Data published on August 5, 2016.
Source: Japanese Cabinet Office
Statistical Data
2 Stock Market Stock Market, etc.
(Points)
End of CY 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Nikkei 225
Stock Average 10,542.62 8,578.95 10,676.64 11,488.76 16,111.43 17,225.83 15,307.78 8,859.56 10,546.44 10,228.92 8,455.35 10,395.18 16,291.31 17,450.77 19,033.71 TOPIX 1,032.14 843.29 1,043.69 1,149.63 1,649.76 1,681.07 1,475.68 859.24 907.59 898.80 728.61 859.80 1,302.29 1,407.51 1,547.30 JPX-Nikkei 400 － － － － － － － － － － － － 11,767.24 12,768.42 13,951.93
Notes: 1. Stock price indexes show closing prices.
2. Base Date for JPX-Nikkei 400 calculation is August 30, 2013. (Base value: 10,000 points).
Source: Nikkei Inc., Japan Exchange Group
Number of TSE Listed Companies, Market Capitalization, Trading Volume, and Trading Value
(companies, billion yen, million stocks)
End of CY Number of TSE Listed Companies
Market Capitalization
Trading volume Trading value
Total Daily average Total Daily average
2001 2,103 296,789 204,037 829 202,261 822
2002 2,119 247,860 213,173 867 193,354 786
2003 2,174 316,483 316,124 1,290 242,371 989
2004 2,276 364,554 378,755 1,539 343,121 1,394
2005 2,323 539,739 558,901 2,281 491,772 2,007
2006 2,391 549,789 502,463 2,026 673,762 2,716
2007 2,389 483,828 562,118 2,294 752,227 3,070
2008 2,373 283,460 555,106 2,265 576,319 2,352
2009 2,319 307,779 563,576 2,319 373,766 1,538
2010 2,280 310,451 520,052 2,122 359,170 1,466
2011 2,279 255,855 536,774 2,190 347,112 1,416
2012 2,293 300,797 529,928 2,136 310,886 1,253
2013 3,406 477,509 887,952 3,624 682,702 2,786
2014 3,456 524,899 709,104 2,906 643,105 2,635
2015 3,502 589,788 709,718 2,908 745,955 3,057
Notes: 1. Total of domestic stocks.
2. Number of listed companies and market capitalization were those at the end of the year.
3. The spot market of former Osaka Securities Exchange was merged with Tokyo Stock Exchange in July 2013.
Source: Japan Exchange Group
Average PER (Simple Average) of TSE (1st Section)
(Times)
End of CY 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 PER 61.4 － 96.7 28.1 32.3 25.9 19.5 14.1 － 32.9 15.0 18.4 23.5 18.5 18.5
Note: “-” for the end of 2002 and 2009 are left blank as the total net profit per share was negative.
Source: Japan Exchange Group
Statistical Data
Number of Newly Listed Companies and IPO Amounts
CY 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Number of newly
listed companies 168 123 118 152 98 113 65 54 23 26 50 66 75 90 104 IPO amounts
(Billion yen) 368 147 347 421 402 594 176 43 33 206 128 39 377 346 91
Notes: 1. IPOs include public offerings made when foreign companies list on a Japanese exchange.
2. The figures for the number of new listed companies are for the First and Second Sections, the Mothers and JSADAQ markets of the TSE. Figures for other domestic exchanges are not included.
Sources: Japan Exchange Group, Japan Securities Dealers Association
Equity Financing (paid-in capital increase) by Corporations
（Billion yen）
CY 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Public oferings 1,372 223 653 994 884 1,659 511 362 4,968 3,320 1,014 473 1,134 1,384 963
Rights oferings 32 － 2 11 4 3 9 0 0 1 － 0 1 － 0
Third-party allotments
and others 847 1,566 2,808 2,150 2,509 1,220 1,626 1,116 1,366 655 510 1,444 519 617 915 Total 2,252 1,789 3,464 3,156 3,397 2,883 2,147 1,479 6,334 3,977 1,524 1,918 1,655 2,002 1,879
Notes: 1. Third-party allotments include private placements.
2. Initial public offerings made in conjunction with the listing of shares on exchanges before 2007 are not included in the calculations.
3. “—” indicates nil. “0” indicates an amount less than 1 unit amount.
Source: Japan Exchange Group
(%)
End of CY 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Simple yield of newly
issued 10-year JGBs 1.365 0.900 1.360 1.435 1.470 1.675 1.500 1.165 1.285 1.110 0.980 0.795 0.735 0.330 0.265 Call rates
(uncollateralized
overnight) 0.002 0.002 0.001 0.002 0.004 0.275 0.459 0.103 0.094 0.079 0.075 0.076 0.068 0.066 0.038
Sources: Bank of Japan, Japan Bond Trading Co., Ltd.
3 Bond Market
Long-term and Short-term Interest Rates
OTC Bond Trading (including Repos)
(Trillion yen)
CY 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 JGBs 3,863.4 3,429.8 4,836.1 6,178.6 6,428.0 8,881.6 11,890.1 11,118.4 8,458.1 7,452.4 7,860.2 8,738.9 8,968.6 10,075.4 10,393.4 Short-term JGBs, etc. 2,243.2 1,490.0 1,933.7 2,179.3 1,817.5 1,872.1 2,554.8 2,680.6 3,083.9 2,646.5 2,497.8 2,475.5 2,693.7 2,449.3 2,499.7 Medium-term, long-term,
Super-long-term, JGBs 1,620.1 1,939.8 2,902.4 3,999.2 4,610.5 7,009.5 9,335.2 8,437.8 5,374.1 4,805.9 5,362.4 6,263.3 6,274.9 7,626.0 7,893.7 Others 194.6 236.1 274.0 302.8 330.1 271.3 206.5 169.7 105.1 100.7 104.1 105.3 89.3 106.9 142.8 Total 4,058.0 3,665.9 5,110.2 6,481.4 6,758.2 9,152.9 12,096.6 11,288.1 8,563.3 7,553.1 7,964.4 8,844.3 9,058.0 10,182.3 10,536.3
Statistical Data
Corporate Bond Financing
(Billion yen)
CY 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Straight corporate bonds 8,609 7,736 7,728 5,879 7,088 6,858 9,258 9,125 11,493 9,678 8,483 8,409 8,708 8,456 6,898
Convertible-type bonds
with subscription rights 300 427 72 561 889 1,423 127 653 287 171 39 36 97 104 237 Total 8,909 8,163 7,800 6,440 7,977 8,281 9,385 9,778 11,780 9,849 8,522 8,445 8,805 8,560 7,135
Notes: 1. Straight corporate bonds include asset backed bonds.
2. Financing by corporate bonds with share options was zero.
3. Convertible-type bonds with subscription rights were previously termed convertible bonds before being renamed in accordance with 2002 revisions in the Commercial Code.
Source: Japan Securities Dealers Association
Bond Issuance
(Billion yen)
CY 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 JGBs 133,970 147,831 154,686 175,268 186,155 175,683 140,455 125,751 145,660 165,823 164,064 172,248 181,032 175,848 174,508 Municipal bonds 2,299 2,582 4,264 5,251 6,152 6,031 5,703 5,873 7,439 7,608 6,654 6,771 7,079 6,880 6,849 Gov-guaranteed bonds 4,815 4,216 6,476 8,243 7,821 4,434 4,461 4,494 4,925 4,540 3,153 4,699 4,873 4,600 3,134 FILP agency bonds 546 2,408 2,457 3,188 4,187 4,493 4,556 4,472 4,599 4,998 5,647 5,439 4,811 4,134 4,298
Straight
corporate bonds 8,609 7,736 7,728 5,879 7,088 6,858 9,258 9,125 11,493 9,678 8,483 8,409 8,708 8,456 6,898 Others 23,681 17,159 15,757 15,812 16,684 13,561 12,150 8,822 5,995 5,838 5,395 4,944 4,368 5,097 4,607 Total 173,922 181,934 191,371 213,642 228,090 211,062 176,585 158,540 180,113 198,488 193,398 202,513 210,873 205,019 200,297
Notes: 1. Excluding private placement municipal bonds. In addition, for 2008 and later, excluding private placement special bonds and private placement corporate bonds.
2. Straight corporate bonds include asset backed corporate bonds.
Source: Japan Securities Dealers Association
Composition of Bond Issuance
(%)
CY 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 JGBs 77.0 81.3 80.8 82.0 81.6 83.2 79.5 79.3 80.9 83.5 84.8 85.1 85.8 85.8 87.1 Municipal bonds 1.3 1.4 2.2 2.5 2.7 2.9 3.2 3.7 4.1 3.8 3.4 3.3 3.4 3.4 3.4 Gov-guaranteed bonds 2.8 2.3 3.4 3.9 3.4 2.1 2.5 2.8 2.7 2.3 1.6 2.3 2.3 2.2 1.6 FILP agency bonds 0.3 1.3 1.3 1.5 1.8 2.1 2.6 2.8 2.6 2.5 2.9 2.7 2.3 2.0 2.1
Straight
corporate bonds 4.9 4.3 4.0 2.8 3.1 3.2 5.2 5.8 6.4 4.9 4.4 4.2 4.1 4.1 3.4 Others 13.6 9.4 8.2 7.4 7.3 6.4 6.9 5.6 3.3 2.9 2.8 2.4 2.1 2.5 2.3 Total 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
Notes: 1. Excluding private placement municipal bonds. In addition, for 2008 and later, excluding private placement special bonds and private placement corporate bonds.
2. Straight corporate bonds include asset backed corporate bonds.
Source: Japan Securities Dealers Association
Statistical Data
4 Investment Trusts
Net Assets, etc. Held in Investment Trusts
(Billion yen)
End of CY 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Publicly
ofered investment trusts
Number
of funds 2,867 2,718 2,617 2,552 2,640 2,753 2,997 3,333 3,656 3,905 4,196 4,384 4,922 5,404 5,843 Net assets 45,280 36,016 37,435 40,996 55,347 68,927 79,760 52,146 61,455 63,720 57,327 64,063 81,523 93,504 97,756
Real-estate investment trusts
Number
of funds 2 6 10 15 28 40 42 42 42 35 34 37 52 62 68
Net assets 236 441 766 1,246 2,050 3,153 3,687 3,968 4,020 3,908 4,109 4,578 6,078 7,137 8,208
Private placement investment trusts
Number
of funds 660 1,085 1,306 1,588 1,881 2,192 2,477 2,603 2,639 2,689 2,698 2,753 2,883 3,351 3,961 Net assets 6,106 7,381 10,384 15,596 25,643 32,987 36,030 25,555 29,667 30,626 28,542 31,818 40,413 46,870 61,973
Total
Number
of funds 3,529 3,809 3,933 4,155 4,549 4,985 5,516 5,978 6,337 6,629 6,928 7,174 7,857 8,817 9,872 Net assets 51,624 43,839 48,586 57,839 83,041 105,068 119,478 81,670 95,143 98,255 89,979 100,461 128,014 147,512 167,938 Changes in
net assets －1,468 －7,784 4,746 9,253 25,201 22,027 14,410 －37,808 13,472 3,112 －8,275 10,481 27,553 19,498 20,425
Source: The Investment Trusts Association, Japan
(Billion yen)
End of CY 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Stock
investment trusts
Number
of funds 2,401 2,351 2,339 2,308 2,408 2,533 2,789 3,135 3,468 3,724 4,017 4,209 4,756 5,242 5,684 Net assets 14,905 16,372 21,339 27,435 40,828 55,657 66,784 40,842 50,243 52,464 46,761 52,913 65,027 77,095 81,738
Bond investment trusts
Number
of funds 446 346 263 230 218 206 194 184 174 167 165 161 152 148 146 Net assets 22,652 14,121 11,746 9,955 11,498 10,576 10,059 8,691 8,755 9,026 8,536 9,302 14,569 14,433 14,375
Money management funds
Number
of funds 20 21 15 14 14 14 14 14 14 14 14 14 14 14 13
Net assets 7,722 5,521 4,350 3,606 3,020 2,693 2,917 2,612 2,456 2,229 2,028 1,847 1,925 1,975 1,642
Total
Number
of funds 2,867 2,718 2,617 2,552 2,640 2,753 2,997 3,333 3,656 3,905 4,196 4,384 4,922 5,404 5,843 Net assets 45,280 36,016 37,435 40,996 55,347 68,927 79,760 52,146 61,455 63,720 57,327 64,063 81,523 93,504 97,756
Changes in
net assets －4,118 －9,264 1,419 3,561 14,350 13,579 10,832 －27,614 9,308 2,264 －6,392 6,736 17,459 11,981 4,251
Net Assets, etc. Held in Publicly Ofered Contractual-type Securities Investment Trusts
Statistical Data
(Billion yen)
End of CY 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Unit
type
Number
of funds 187 200 221 255 289 249 246 365 393 350 293 239 206 295 359 Net assets 617 697 1,161 1,799 1,945 1,875 1,876 1,287 1,522 1,266 881 1,275 1,479 1,791 1,734
Open type (excluding ETFs)
Number
of funds 2,205 2,133 2,100 2,038 2,106 2,271 2,527 2,706 3,003 3,289 3,629 3,866 4,440 4,824 5,180 Net assets 13,398 13,165 17,216 22,522 35,180 49,665 61,029 37,029 46,430 48,588 43,152 47,423 55,456 64,688 63,838
ETFs
Number
of funds 9 18 18 15 13 13 16 64 72 85 95 104 110 123 145
Net assets 889 2,509 2,962 3,113 3,703 4,116 3,878 2,524 2,290 2,610 2,728 4,214 8,090 10,616 16,165
Total
Number
of funds 2,401 2,351 2,339 2,308 2,408 2,533 2,789 3,135 3,468 3,724 4,017 4,209 4,756 5,242 5,684 Net assets 14,905 16,372 21,339 27,435 40,828 55,657 66,784 40,842 50,243 52,464 46,761 52,913 65,027 77,095 81,738
Changes in
net assets 294 1,467 4,966 6,095 13,393 14,828 11,126 －25,942 9,401 2,220 －5,702 6,152 12,113 12,067 4,642
Source: The Investment Trusts Association, Japan
Net Assets, etc. Held in Publicly Ofered Contractual-type Stock Investment Trusts
(Billion yen)
End of CY 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Stock
investment trusts
Number
of funds 509 926 1,124 1,410 1,718 2,060 2,363 2,475 2,512 2,568 2,597 2,667 2,789 3,135 3,580 Net assets 5,040 6,469 9,388 14,646 24,723 32,186 35,406 24,967 28,976 29,912 27,938 31,297 39,618 45,155 59,370
Bond investment trusts
Number
of funds 151 159 182 178 163 132 114 128 127 121 101 86 94 216 381 Net assets 1,066 911 995 949 919 800 623 587 691 714 604 520 794 1,715 2,603
Total
Number
of funds 660 1,085 1,306 1,588 1,881 2,192 2,477 2,603 2,639 2,689 2,698 2,753 2,883 3,351 3,961 Net assets 6,106 7,381 10,384 15,596 25,643 32,987 36,030 25,555 29,667 30,626 28,542 31,818 40,413 46,870 61,973
Changes in
net assets 2,413 1,274 3,003 5,211 10,046 7,344 3,043 －10,474 4,111 958 －2,083 3,275 8,594 6,457 15,103
Source: The Investment Trusts Association, Japan
Net Assets, etc. Held in Private Placement Contractual-type Investment Trusts
Statistical Data
Derivative Market Transaction Volume, etc.
(Unit: In thousands)
CY 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Transaction
volume 89,873 142,010 196,191 191,703 218,655 208,424 228,058 360,575 308,009 361,459 Current outstanding
open contracts 1,666 1,700 1,888 2,805 3,462 3,361 5,012 5,346 4,773 3,787
Notes: 1. The derivative market of Tokyo Stock Exchange was merged with that of Osaka Securities Exchange in March 2014.
2. Figures show the total of the derivative markets of Osaka Securities Exchange and Tokyo Stock Exchange before the merger.
3. Current outstanding open contracts are as of year-end.
Source: Japan Exchange Group
6 Investor Trends
Investment by Institutional Investors (Insurance Companies and Pension Funds)
(Billion yen)
FY 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Bonds 9,307 7,143 2,152 －1,931 8,649 4,080 10,881 10,755 6,004 －3,274 －3,301 Stocks －3,454 －184 1,314 450 407 －308 －1,206 －1,814 －1,726 －1,781 957 Investment trusts 3,956 2,764 249 350 2,492 －242 －807 1,665 86 402 375 Foreign securities 2,589 －833 －1,201 1,106 －597 5,412 －1,200 －1,113 －1,070 3,704 9,971
Notes: 1. Changes during the fiscal year.
2. Stocks include other equities.
Source: Bank of Japan
Investments by Individual Investors (Household)
(Billion yen)
FY 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Bonds 3,959 2,542 516 －1,353 －1,215 －3,625 －3,525 －3,285 －2,420 －2,242 －677 Stocks －1,736 －3,309 －232 1,955 －1,866 1,395 －251 －2,014 －6,643 －6,676 －3,221 Investment trusts 9,634 12,024 9,790 －813 1,206 3,237 －1,762 1,739 5,521 6,245 6,359 Foreign securities 1,304 778 2,880 1,069 783 847 921 265 302 1,010 1,412
Notes: 1. Changes during the fiscal year.
(Billion yen)
FY 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Transaction
value 65,062 88,456 97,214 147,591 88,021 98,697 79,420 69,467 44,041 136,503 122,946 239,525 End-of-term
balance 25,667 40,652 44,471 72,803 69,290 35,564 35,156 37,243 28,784 27,034 56,126 93,863
Notes: 1. On a notional value basis.
2. End of term balance is as of fiscal year-end.
Source: Japan Securities Dealers Association
Value of Securities OTC Derivative Transactions
Statistical Data
(Billion yen)
End of FY 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Individuals 61,033 48,679 75,599 84,740 117,977 108,419 76,653 54,345 68,469 63,040 62,838 76,447 83,429 99,790 90,770 Governments 533 538 789 722 977 1,866 1,567 1,137 1,152 940 793 791 845 974 765
Financial
institutions 61,797 47,553 67,554 67,402 94,097 87,678 59,843 42,541 52,628 48,575 49,007 57,843 65,309 90,484 83,587 Pension
trusts 18,696 13,630 16,581 15,430 20,927 20,185 14,149 9,364 11,697 9,963 9,169 9,580 9,236 10,635 7,693 Investment
trusts 10,302 9,384 13,602 15,219 25,537 26,865 19,739 13,378 15,956 13,606 13,881 17,034 21,292 27,530 28,882 Insurance
companies 31,687 21,988 29,566 29,441 42,688 43,452 30,875 19,652 23,728 20,017 18,707 21,468 23,042 29,010 24,345 Business
corporations 67,578 50,789 80,489 88,077 126,167 121,043 87,649 60,030 72,542 66,031 66,641 81,938 94,752 122,598 117,394 Foreigners 56,733 41,824 80,604 92,765 155,978 161,400 112,222 62,373 88,295 83,037 81,030 105,849 137,377 182,337 154,457 Securities
irms 2,170 2,088 4,494 4,596 8,198 10,385 6,293 2,711 5,341 5,569 6,240 7,463 10,149 12,707 10,703 Total 310,533 236,476 369,281 398,396 592,550 581,297 408,992 265,535 339,812 310,783 308,310 378,415 445,434 576,067 518,598
Notes: 1. Governments include central and regional governments.
2. Financial Institutions do not include pension trusts, investment trusts and insurance companies.
3. Figures cover all exchange-listed stocks excluding foreign stocks.
4. Pension trusts include investment assets of pension related funds of welfare pension funds, etc. for which banks operating trust business are appointed as trustee, but do not include those of public pension funds.
5. Treasury shares owned by each listed company are included under the investor type in which the companies are categorized.
Source: Tokyo Stock Exchange
(%)
End of FY 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Individuals 19.7 20.6 20.5 21.3 19.9 18.7 18.7 20.5 20.1 20.3 20.4 20.2 18.7 17.3 17.5 Governments 0.2 0.2 0.2 0.2 0.2 0.3 0.4 0.4 0.3 0.3 0.3 0.2 0.2 0.2 0.1
Financial
institutions 19.9 20.1 18.3 16.9 15.9 15.1 14.6 16.0 15.5 15.6 15.9 15.3 14.7 15.7 16.1 Pension
trusts 6.0 5.8 4.5 3.9 3.5 3.5 3.5 3.5 3.4 3.2 3.0 2.5 2.1 1.8 1.5 Investment
trusts 3.3 4.0 3.7 3.8 4.3 4.6 4.8 5.0 4.7 4.4 4.5 4.5 4.8 4.8 5.6 Insurance
companies 10.2 9.3 8.0 7.4 7.2 7.5 7.5 7.4 7.0 6.4 6.1 5.7 5.2 5.0 4.7 Business
corporations 21.8 21.5 21.8 22.1 21.3 20.8 21.4 22.6 21.3 21.2 21.6 21.7 21.3 21.3 22.6 Foreigners 18.3 17.7 21.8 23.3 26.3 27.8 27.4 23.5 26.0 26.7 26.3 28.0 30.8 31.7 29.8 Securities
irms 0.7 0.9 1.2 1.2 1.4 1.8 1.5 1.0 1.6 1.8 2.0 2.0 2.3 2.2 2.1 Total 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
Notes: 1. Governments include central and regional governments.
2. Financial Institutions do not include pension trusts, investment trusts and insurance companies.
3. Figures cover all exchange-listed stocks excluding foreign stocks.
4. Pension trusts include investment assets of pension related funds of welfare pension funds, etc. for which banks operating trust business are appointed as trustee, but do not include those of public pension funds.
5. Treasury shares owned by each listed company are included under the investor type in which the companies are categorized.
Source: Tokyo Stock Exchange
Stockholdings by Type of Investors
Share of Stockholdings by Type of Investors (market value basis)
Statistical Data
7 Household Financial Assets Household Financial Assets
(Billion yen)
End of FY 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Cash and
deposits 774,817 775,286 781,823 793,014 804,761 814,920 833,115 847,223 864,288 882,293 893,596 Bonds 40,371 43,226 44,521 43,166 41,850 38,172 34,966 32,141 29,286 27,208 27,047 Stocks and
other equities 199,780 200,430 115,159 84,788 101,118 105,212 108,236 132,314 150,296 169,701 152,906 Investment trusts 54,724 70,009 66,505 48,417 59,891 62,366 59,309 71,229 78,472 95,458 91,961
Insurance and
pension reserves 481,599 482,697 473,447 465,477 463,669 463,837 468,948 485,404 489,751 508,269 509,368 Others 28,315 28,342 26,933 26,371 28,316 27,064 27,410 28,334 26,340 32,809 30,625 Total 1,579,607 1,599,992 1,508,390 1,461,235 1,499,606 1,511,572 1,531,987 1,596,646 1,638,435 1,715,740 1,705,505
Note: Bonds include trust beneficiary rights.
Source: Bank of Japan
(%)
End of FY 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Cash and
deposits 49.1 48.5 51.8 54.3 53.7 53.9 54.4 53.1 52.8 51.4 52.4
Bonds 2.6 2.7 3.0 3.0 2.8 2.5 2.3 2.0 1.8 1.6 1.6
Stocks and
other equities 12.6 12.5 7.6 5.8 6.7 7.0 7.1 8.3 9.2 9.9 9.0
Investment trusts 3.5 4.4 4.4 3.3 4.0 4.1 3.9 4.5 4.8 5.6 5.4
Insurance and
pension reserves 30.5 30.2 31.4 31.9 30.9 30.7 30.6 30.4 29.9 29.6 29.9
Others 1.8 1.8 1.8 1.8 1.9 1.8 1.8 1.8 1.6 1.9 1.8
Total 100.0 100 100 100 100 100 100 100 100 100 100.0
Note: Bonds include trust beneficiary rights.
Source: Bank of Japan
Composition of Household Financial Assets
Year/Month 2014.1 2014.3 2014.6 2014.12 2015.3 2015.6 2015.9 2015.12 2016.3 Number of accounts
(Unit: Ten thousand accounts) 492 650 727 825 879 921 957 987 1,012
Purchase amount
(Billion yen) － 10,034 15,631 29,769 44,109 51,884 58,597 64,444 77,554
Listed stocks － 3,645 4,949 9,705 13,983 16,282 18,867 21,654 27,464 Investment trusts － 6,212 10,395 19,439 29,154 34,477 38,381 41,297 48,126
ETF － 91 140 343 562 655 835 952 1,314
REIT － 86 145 281 409 468 512 540 649
Notes: 1. At the time of introduction for January 2014; end of month for others.
2．Figures for September 2014 have not been disclosed.
Nippon (Japan) Individual Savings Account (NISA)
Statistical Data
End of FY 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Regular
Members 290 281 266 267 289 308 317 321 305 293 285 261 255 254 256 No less than ￥50
million to less than
￥200 million 51 49 49 50 55 51 51 51 50 44 43 41 40 39 39
No less than ￥200 million to less than
￥300 million 11 13 11 11 14 20 19 21 19 14 13 15 15 18 18
No less than ￥300 million to less than
￥1 billion 79 79 76 76 88 99 102 103 96 96 92 80 75 75 73
No less than ￥1 billion to less than
￥3 billion 45 37 37 38 36 37 45 46 45 45 41 37 38 35 39
No less than ￥3 billion to less than
￥5 billion 14 14 14 15 15 19 21 23 23 26 26 25 23 24 27
No less than ￥5 billion to less than
￥10 billion 11 15 13 14 14 15 17 17 19 19 19 19 18 17 16
No less than ￥10
billion 30 27 26 25 27 35 33 33 28 26 29 28 30 31 31
Foreign securities
irms 49 47 40 38 40 32 29 27 25 23 22 16 16 15 13
Enrollments 19 18 8 7 30 33 22 25 10 12 9 5 5 5 10
Withdrawals,
etc. 22 27 23 6 8 14 13 21 26 24 17 29 11 6 8
Changes －3 －9 －15 1 22 19 9 4 －16 －12 －8 －24 －6 －1 2
Notes: 1. The amount in the breakdown for the number of member firms shows the classification of capital for domestic securities firms.
2. In April 2004, the minimum capitalization requirement was lowered from ￥100 million to ￥50 million.
3. Withdrawals, etc. includes the decrease in the number of Regular Members due to mergers, etc.
4. The companies that withdrew effective March 31 are included in the withdrawals of the next fiscal year.
Source: Japan Securities Dealers Association