The rapid increase in Japan’s wealthy population is driven by multiple economic factors.

 The rapid increase in Japan’s wealthy population is driven by multiple economic factors. First, the monetary easing policies since 2020 and the global stock market boom have played a major role. The Nikkei Stock Average has reached its highest levels since the bubble era, causing the value of stocks and real estate owned by individuals and companies to soar. Particularly, owners of listed companies and property holders in major urban areas have greatly benefited. Additionally, the sharp depreciation of the yen has boosted the valuation of dollar-denominated assets and stocks of companies with high overseas sales, further increasing wealth. Japan’s aging population has also led to active inheritance and gifting from older to younger generations. In cities like Tokyo and Osaka, rising land prices have enabled many to inherit assets worth hundreds of millions of yen. Moreover, the expansion of private banking and investment trust products tailored for the wealthy has made reinvesting profits more efficient. The relatively low taxation on financial income continues to promote snowballing asset growth. Furthermore, broader definitions of wealth in recent reports—often classifying individuals with financial assets over 100 million yen as "wealthy"—have amplified the sense of rapid growth. Together, these factors have led to an unprecedented surge in Japan's wealthy population.