Key information about Japan Household Debt

• Japan Household Debt reached 2,739.5 USD bn in Sep 2024, compared with the reported number of 2,437.8 USD bn in the previous quarter
• Japan Household Debt: USD mn data is updated quarterly, available from Dec 1997 to Sep 2024
• The data reached an all-time high of 4,064.6 USD bn in Mar 2000 and a record low of 2,437.8 USD bn in Jun 2024

CEIC calculates quarterly Household Debt as Total Household Liabilities less Financial Surplus or Deficit and converts it into USD. The Bank of Japan provides Household Debt in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions.


Further information about Japan Household Debt

• In the latest reports, Japan Household Debt accounted for 65.1 % of the country's Nominal GDP in Sep 2024
• Money Supply M2 in Japan increased 11,049.4 USD bn YoY in Sep 2024
• Japan Foreign Exchange Reserves was measured at 1,099.1 USD bn in Nov 2024
• The Foreign Exchange Reserves equaled 18.2 Months of Import in Nov 2024
• Japan Domestic Credit reached 12,785.0 USD bn in Sep 2024, representing an increased of 1.5 % YoY

Key information about Japan Household Debt: % of GDP

• Japan household debt accounted for 65.1 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 65.1 % in the previous quarter.
• Japan household debt to GDP ratio is updated quarterly, available from Dec 1997 to Dec 2024.
• The data reached an all-time high of 78.7 % in Mar 2000 and a record low of 59.4 % in Dec 2015.

CEIC calculates quarterly Household Debt as % of Nominal GDP from quarterly Household Debt and quarterly Nominal GDP. Household Debt is calculated as Total Household Liabilities less Financial Surplus or Deficit. The Bank of Japan provides Household Debt in local currency. Economic and Social Research Institute provides Nominal GDP in local currency.


Related information about Japan Household Debt: % of GDP

• In the latest reports, Japan Household Debt reached 2,739.5 USD bn in Sep 2024.
• Money Supply M2 in Japan increased 1.1 % YoY in Feb 2025.
• Japan Foreign Exchange Reserves was measured at 1,108.4 USD bn in Feb 2025.
• The Foreign Exchange Reserves equaled 16.2 Months of Import in Jan 2025.
• Japan Domestic Credit reached 11,754.7 USD bn in Dec 2024, representing an increased of 1.3 % YoY.
• The country's Non Performing Loans Ratio stood at 1.2 % in Sep 2024, compared with the ratio of 1.3 % in the previous half a year.

In the first quarter of 2025, outstanding consumer loans granted to households by private financial institutions in Japan amounted to around ** trillion Japanese yen. The outstanding amount of consumer credit increased from about **** trillion yen in the previous quarter.

In 2022, household debt in Japan accounted for around ***** percent of the net disposable income of households. This was the highest share recorded in the last ten years.

Households Debt in Japan remained unchanged at 65.10 percent of GDP in the fourth quarter of 2024 from 65.10 percent of GDP in the third quarter of 2024. This dataset provides - Japan Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Consumer Credit in Japan increased to 56005.70 JPY Billion in the first quarter of 2025 from 54939.70 JPY Billion in the fourth quarter of 2024. This dataset provides the latest reported value for - Japan Consumer Credit - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In 2022, household debt in Japan accounted for **** percent of the gross domestic product (GDP). The share increased from ** percent in the previous year.

 Household debt 

Total household financial liabilities rose to around ***** trillion Japanese yen in the second quarter of 2023, most of which comprised housing loans. A distribution of financial liabilities held by multi-person households revealed that loans taken out for the purchase of homes and land were the primary reason for an increase in the average amount of liabilities per household in recent years. The average amount of financial liabilities per multi-person household decreased proportionally with increasing age: household debt reached the highest levels among households with a household head aged below 40 years, while households headed by over 70-year-olds reported the lowest amount of outstanding debt.

 Regional disparities 

A closer look at the geographical distribution of household debt revealed large disparities across different regions in the country: at **** million yen, financial liabilities per multi-person household were highest in the Kanto region, which is home to Japan’s capital Tokyo where a large proportion of the Japanese workforce is concentrated. At the same time, the average household debt in Okinawa, the southernmost region of Japan, was **** million yen.

In 2024, the value of outstanding credit card balances in Japan amounted to around **** trillion Japanese yen. The value increased by **** percent year on year. Credit cards have been the leading cashless payment method in Japan over the past decade.

Japan PA: Flow: HH: PI: Interest: Consumer Debt Interest data was reported at 142.000 JPY bn in Mar 2015. This records an increase from the previous number of 141.900 JPY bn for Dec 2014. Japan PA: Flow: HH: PI: Interest: Consumer Debt Interest data is updated quarterly, averaging 354.200 JPY bn from Mar 1994 (Median) to Mar 2015, with 85 observations. The data reached an all-time high of 730.900 JPY bn in Jun 1995 and a record low of 109.600 JPY bn in Mar 2013. Japan PA: Flow: HH: PI: Interest: Consumer Debt Interest data remains active status in CEIC and is reported by Economic and Social Research Institute. The data is categorized under Global Database’s Japan – Table JP.A084: SNA 1993: Benchmark Year=2005: Income & Outlay Accounts: By Institution: Primary Income Acc Allocation.

In 2023, the average amount of home loan debt of working households in Japan that have taken out loans to purchase homes and land amounted to around **** million Japanese yen. This represented a decade-high.

Key information about Japan Domestic Credit Growth

• Japan Domestic Credit increased 0.5 % YoY in Jan 2025, compared with an increase of 1.1 % YoY in the previous month
• Japan Domestic Credit Growth YoY data is updated monthly
• It averaged 2.5 %, available from Apr 2004 to Jan 2025
• The data reached an all-time high of 8.1 % in Feb 2021 and a record low of -3.2 % in May 2005

CEIC calculates Domestic Credit Growth from monthly Domestic Credit. The Bank of Japan provides Domestic Credit in local currency.


Further information about Japan Domestic Credit Growth

• In the latest reports, Japan Domestic Credit reached 11,877.4 USD bn in Jan 2025
• Money Supply M2 in Japan increased to 10,270.0 USD bn YoY in Jan 2025
• Japan Foreign Exchange Reserves was measured at 1,108.4 USD bn in Feb 2025
• The Foreign Exchange Reserves equaled 16.2 Months of Import in Jan 2025
• The country's Non Performing Loans Ratio stood at 1.2 % in Sep 2024, compared with the ratio of 1.3 % in the previous half a year
• Household Debt of Japan reached 65.1 % in Dec 2024, accounting for 65.1 % of the country's Nominal GDP

In the first quarter of 2025, outstanding loans to households in Japan amounted to ***** trillion Japanese yen, up from close to ***** trillion yen in the previous quarter. Housing loans by private institutions made up the largest share of outstanding loans to households.

Japan GPI: PI: HH: Payable (Consumer Debt Interest) data was reported at 69,396.000 JPY mn in 2023. This records a decrease from the previous number of 75,526.000 JPY mn for 2022. Japan GPI: PI: HH: Payable (Consumer Debt Interest) data is updated yearly, averaging 106,317.000 JPY mn from Mar 2012 (Median) to 2023, with 12 observations. The data reached an all-time high of 121,861.000 JPY mn in 2020 and a record low of 69,396.000 JPY mn in 2023. Japan GPI: PI: HH: Payable (Consumer Debt Interest) data remains active status in CEIC and is reported by Statistics of Tokyo. The data is categorized under Global Database’s Japan – Table JP.A114: SNA 2008: Benchmark year=2015: TM: Distribution of Prefectural Income & Disposable Income (at Current Prices).

Japans Haushaltschuld:% des BIP belief sich im 2024-12 auf 65.1 %. Dies stellt einen Anstieg im Vergleich zu den vorherigen Zahlen von 65.1 % für 2024-09 dar. Japans Haushaltschuld:% des BIP werden vierteljährlich aktualisiert, mit einem Durchschnitt von 62.6 % von 1997-12 bis 2024-12, mit 109 Beobachtungen. Die Daten erreichten ein Allzeithoch in Höhe von 78.7 % im 2000-03 und ein Rekordtief in Höhe von 59.4 % im 2015-12. Japans Haushaltschuld:% des BIP Daten behalten den Aktiv-Status in CEIC und werden von CEIC Data gemeldet. Die Daten werden unter World Trend Pluss Global Economic Monitor – Table: Household Debt: % of Nominal GDP: Quarterly kategorisiert.

In a survey conducted in Japan in 2022, close to seven percent of elderly households reported having debt. The share of households with children having debt was much higher, at around 56 percent. The highest amount of debt per household was recorded among households with children.

The Japan credit card market, valued at $652.04 million in 2025, is projected to experience robust growth, driven by rising consumer spending, increasing digitalization, and the expanding adoption of cashless payment systems. The 7.36% CAGR (Compound Annual Growth Rate) indicates a significant upward trajectory through 2033. Key market segments include general-purpose credit cards, which dominate market share due to their widespread acceptance and versatile applications. Specialty cards, catering to specific needs like travel or rewards programs, represent a growing niche. Application-wise, food & groceries, health & pharmacy, and restaurants & bars consistently contribute the highest transaction volumes, reflecting consumer behavior. The market is dominated by major players like Visa, Mastercard, and JCB, alongside significant domestic banks such as Rakuten Card, Mitsubishi UFJ Financial Group, and Sumitomo Mitsui Financial Group. These institutions are strategically investing in technological advancements and innovative reward programs to enhance user experience and drive market penetration. Growth is further propelled by government initiatives promoting digital financial inclusion and a younger generation increasingly embracing contactless payments. Despite the positive outlook, the market faces certain challenges. Competition among established players and emerging fintech companies intensifies pressure on pricing and profitability. Concerns regarding data security and potential financial risks associated with credit card usage also act as restraints, requiring robust regulatory oversight and consumer education initiatives. Furthermore, the market’s future depends on navigating evolving consumer preferences, adapting to technological innovations, and addressing economic fluctuations that could impact consumer spending. Future growth will be significantly influenced by the successful integration of new technologies such as mobile payment platforms and advancements in fraud detection and prevention measures. Expansion into underserved segments and strategic partnerships with retailers will also play crucial roles in shaping the market’s future trajectory. Recent developments include: May 2023: Sumitomo Mitsui Banking Corporation announced a USD 10 million investment in U.S.-based Closed Loop Partners' Circular Plastics Fund. The Closed Loop Circular Plastics Fund is managed and operated by Closed Loop Partners, an investment firm dedicated to advancing the circular economy. The fund provides catalytic debt and equity financing into solutions and infrastructure that advance the recovery and recycling of plastics, helping keep more materials in circulation while reducing greenhouse gas emissions and leading a shift to the circular economy., May 2023: Mizuho Financial Group, Inc. and Greenhill & Co., Inc. announced a definitive agreement for Mizuho to acquire Greenhill in an all-cash transaction at USD15 per share, reflecting an enterprise value of approximately USD550 million, including assumed debt. Through this transaction, Mizuho will likely accelerate its investment banking growth strategy, building on Greenhill's 27-year history of advising important clients on significant mergers & acquisitions, restructurings and capital-raising transactions.. Key drivers for this market are: Usage of Credit Card give the bonus and reward points. Potential restraints include: Usage of Credit Card give the bonus and reward points. Notable trends are: Increasing in Number of Credit Card issued.

Key information about Japan Domestic Credit

• Japan Domestic Credit reached 11,877.4 USD bn in Jan 2025, compared with a reported figure of 11,738.9 USD bn in the previous month
• Japan Domestic Credit data is updated monthly
• It is available from Apr 2003 to Jan 2025 and averaged 12,536.8 USD bn
• The data reached an all-time high of 16,530.5 USD bn in Dec 2020 and a record low of 9,039.7 USD bn in Jun 2007

CEIC converts monthly Domestic Credit into USD. The Bank of Japan provides Domestic Credit in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions.


Further information about Japan Domestic Credit

• In the latest reports, Japan Domestic Credit represented an increased of 0.5 % YoY in Jan 2025
• Money Supply M2 in Japan increased to 10,270.0 USD bn YoY in Jan 2025
• Japan Foreign Exchange Reserves was measured at 1,108.4 USD bn in Feb 2025
• The Foreign Exchange Reserves equaled 16.2 Months of Import in Jan 2025
• The country's Non Performing Loans Ratio stood at 1.2 % in Sep 2024, compared with the ratio of 1.3 % in the previous half a year
• Household Debt of Japan reached 65.1 % in Dec 2024, accounting for 65.1 % of the country's Nominal GDP

In the fourth quarter of 2023, household debt in Japan accounted for **** percent of the gross domestic product (GDP). The share declined from **** percent in the same quarter of the previous year.

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Debt Settlement Market Size 2024-2028

The debt settlement market size is forecast to increase by USD 5.07 billion at a CAGR of 10.3% between 2023 and 2028.

The market is experiencing significant growth due to the increasing trend of consumers seeking relief from mounting credit card debts. One-time debt settlement has gained popularity as an effective solution for individuals looking to reduce their outstanding debt balances. However, the time-consuming nature of negotiations between debtors and creditors poses a challenge for market expansion. Despite this, the market's strategic landscape remains favorable for companies offering debt settlement services. Key drivers include the rising number of consumers struggling with debt, increasing awareness of debt settlement as a viable debt relief option, and the growing preference for affordable and flexible debt repayment plans.
Companies seeking to capitalize on market opportunities should focus on streamlining the negotiation process, leveraging technology to enhance customer experience, and building trust and transparency with clients. Effective operational planning and strategic partnerships with creditors can also help companies navigate the challenges of a competitive and complex market.

What will be the Size of the Debt Settlement Market during the forecast period?

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The market encompasses a range of companies offering financial wellness programs to help consumers manage and reduce their debt. These programs include medical Debt collection, consumer debt relief, and financial education resources. Online financial resources and debt management software are increasingly popular, providing consumers with affordable debt solutions and debt negotiation strategies. However, it's crucial for consumers to be aware of debt settlement scams and their settlement success rates. Debt consolidation loans and financial planning tools are also viable options for responsible debt management. Furthermore, financial literacy education and workshops are essential for consumers to understand debt reduction calculators and credit reporting errors.
Consumer financial protection agencies offer financial counseling services and financial planning advice to promote financial wellness strategies and responsible borrowing. Student loan forgiveness programs are also gaining traction in the market. Overall, the market for debt settlement and financial wellness solutions continues to evolve, with a focus on providing accessible and effective debt relief options for consumers.

How is this Debt Settlement Industry segmented?

The debt settlement industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Credit card debt
  Student loan debt
  Medical debt
  Auto loan debt
  Unsecured personal loan debt
  Others


End-user

  Individual
  Enterprise
  Government


Distribution Channel

  Online
  Offline
  Hybrid


Service Type

  Debt Settlement
  Debt Consolidation
  Debt Management Plans
  Credit Counseling


Provider Type

  For-profit Debt Settlement Companies
  Non-profit Credit Counseling Agencies
  Law Firms
  Financial Institutions


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa



  APAC

    China
    India
    Japan
    South Korea


  South America



  Rest of World (ROW)

By Type Insights

The credit card debt segment is estimated to witness significant growth during the forecast period.

The market experiences significant activity due to the escalating credit card debt among consumers. In India, for instance, the rising financial hardships faced by borrowers are evident in the increasing credit card defaults. The latest data indicates that credit card defaults in India reached 1.8% in June 2024, a notable increase from 1.7% six months prior and 1.6% in March 2023. This trend underscores the mounting financial pressures on consumers. The outstanding credit card debt in India mirrors this trend, with approximately USD3.25 billion in outstanding balances as of June 2024, a slight increase from the previous year.

Debt elimination and negotiation strategies, such as debt relief programs and debt consolidation, have become increasingly popular among consumers seeking financial relief. Credit reporting agencies play a crucial role in this process, as they maintain and report consumers' credit histories to lenders. Student loan debt, medical debt, tax debt, and payday loans are other significant contributors to the market. Consumers often turn to debt validation, credit repair, and financial coaching for guidance in managing their debts. Online platforms, mobile apps, and budgeting tools have become

The Japan credit card market, valued at ¥652.04 million in 2025, is projected to experience robust growth, exhibiting a Compound Annual Growth Rate (CAGR) of 7.36% from 2025 to 2033. This expansion is driven by several factors. Increasing consumer spending, particularly in sectors like food & groceries, restaurants & bars, and online shopping, fuels demand for convenient payment options. The rising adoption of digital payment technologies and the increasing penetration of smartphones among the Japanese population further accelerate credit card usage. Government initiatives promoting cashless transactions also contribute to market growth. Furthermore, competitive offerings from major players like Visa, Mastercard, JCB, and various Japanese financial institutions, including Rakuten Card, Mitsubishi UFJ Financial Group, and Sumitomo Mitsui Financial Group, stimulate innovation and market expansion. The market segmentation reveals a significant share held by general-purpose credit cards, followed by specialty cards catering to specific consumer needs. While the market faces constraints such as concerns over debt accumulation and the persistence of cash-based transactions, the overall trend points towards significant growth over the forecast period. The competitive landscape is characterized by established players like Visa and Mastercard alongside significant domestic banks and specialized credit card providers. The success of these companies hinges on their ability to adapt to evolving consumer preferences, offer attractive rewards programs, and enhance security features to build trust and confidence among users. Future growth will depend on effective marketing strategies targeting younger demographics, expanding acceptance networks, and incorporating innovative features like mobile payment integration and enhanced fraud protection measures. The continued expansion of e-commerce and the government’s ongoing push towards a cashless society will be crucial catalysts for further market expansion in the coming years. Regional variations within Japan are likely to exist, influenced by factors like income levels and digital literacy rates, but the overall national trend is expected to remain positive. This report provides a detailed analysis of the Japan credit cards market, covering the period from 2019 to 2033. It offers insights into market size, growth drivers, challenges, and key players, utilizing data from the base year 2025 and forecasting until 2033. The report is designed to help businesses understand the competitive landscape, identify opportunities, and make informed strategic decisions in this dynamic market. This in-depth study includes analysis of various card types, applications, and providers, factoring in the impact of recent industry developments and regulatory changes affecting the Japanese credit card market. Recent developments include: May 2023: Sumitomo Mitsui Banking Corporation announced a USD 10 million investment in U.S.-based Closed Loop Partners' Circular Plastics Fund. The Closed Loop Circular Plastics Fund is managed and operated by Closed Loop Partners, an investment firm dedicated to advancing the circular economy. The fund provides catalytic debt and equity financing into solutions and infrastructure that advance the recovery and recycling of plastics, helping keep more materials in circulation while reducing greenhouse gas emissions and leading a shift to the circular economy., May 2023: Mizuho Financial Group, Inc. and Greenhill & Co., Inc. announced a definitive agreement for Mizuho to acquire Greenhill in an all-cash transaction at USD15 per share, reflecting an enterprise value of approximately USD550 million, including assumed debt. Through this transaction, Mizuho will likely accelerate its investment banking growth strategy, building on Greenhill's 27-year history of advising important clients on significant mergers & acquisitions, restructurings and capital-raising transactions.. Key drivers for this market are: Usage of Credit Card give the bonus and reward points. Potential restraints include: Usage of Credit Card give the bonus and reward points. Notable trends are: Increasing in Number of Credit Card issued.