Society

Japan still world's top creditor at end of 2019

May 27 (Japan Times) - Japan remained the worldâ€™s largest creditor at the end of 2019, with the net balance of external assets held by its government, companies and individual investors hitting a record Â¥364.53 trillion ($3.40 trillion), the Finance Ministry said Tuesday.

The figure, up 6.8 percent from a year earlier and the highest since comparable data became available in 1996, reflected increased direct investments abroad by Japanese firms and a rise in prices of foreign stocks held by domestic investors.

Japan was the worldâ€™s largest holder of overseas net assets for the 29th consecutive year, the ministry said.

A ministry official refrained from presenting an outlook for the possible impact of the novel coronavirus pandemic on the 2020 balance.

In the reporting year, Germany had the worldâ€™s second-largest net external assets, with Â¥299.83 trillion at the end of 2019, followed by China with Â¥231.77 trillion. The United States was the biggest net external debt holder with Â¥1.199 quadrillion, according to the ministry.

Zao’s Snow Monsters Face Extinction

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Japan Ranks 92nd in English Proficiency, Lowest in History

EF Education First, a global education organization, published this year’s English Proficiency Index on Wednesday, ranking nations worldwide. Japan’s ranking stood at 92nd among 116 countries and regions, continuing a 14-year trend of record lows.

Famed Hot Spring Struggles to Handle Visitor Surge

Ginzan Hot Springs in Yamagata, known for its Taisho-era charm, is now at peak season for autumn foliage. While this secluded onsen town is a well-known destination in the Tohoku region, an influx of foreign tourists has led local officials to implement restrictions on day visitors starting next month.

Convenience Stores to Start Selling Over-the-Counter Drugs

Japan's Ministry of Health, Labour and Welfare has announced plans to allow the sale of over-the-counter drugs at convenience stores without on-site pharmacists.

Japan Looks to Limit Continuous Work

Japan's Ministry of Health, Labour and Welfare's advisory panel has outlined a proposal for amending the law to prohibit working more than 14 consecutive days. Under the current system, workers can technically work up to 48 days in a row through a system known as 'four-day-off-per-four-weeks,' while labor agreements also allow for holiday work, meaning there are no effective restrictions on consecutive workdays.

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