Japan Lower House members' average assets hit record low
The average amount of assets held by the 465 members of Japan's House of Representatives fell to a record low of 26.69 million yen, a Jiji Press tally showed Monday.
The top asset holder was former Prime Minister Taro Aso of the ruling Liberal Democratic Party with 601.53 million yen, according to asset reports disclosed by the lower chamber of the Diet, the country's parliament, following the October 2024 election.
The previous record-low average was 28.92 million yen following the 2017 election.
The decrease apparently reflected the retirements or election defeats of major asset holders, including the LDP's Hirohisa Takagi, who reported over 500 million yen following the 2021 election.
New lawmakers elected last year also contributed to the fall.
The average value of real estate owned by Lower House members came to 19.55 million yen, and that of financial assets, including time deposits and securities but not ordinary deposits, stood at 7.14 million yen.
The average amount of borrowings was 12.85 million yen. Male lawmakers held assets averaging 28.94 million yen, while female lawmakers had 14.6 million yen.
The LDP logged the highest average at 41.63 million yen, followed by its coalition partner, Komeito, at 22.1 million yen.
Nippon Ishin no Kai (Japan Innovation Party) came next at 19.85 million yen, followed by the Democratic Party for the People at 15.26 million yen and the main opposition Constitutional Democratic Party of Japan at 15.01 million yen.
The average stood at 9.17 million yen for the Conservative Party of Japan, 8.03 million yen for the Sanseito, 6.91 million yen for the Japanese Communist Party and 4.87 million yen for Reiwa Shinsengumi.
The sole Social Democratic Party member of the Lower House reported 53.83 million yen.
A total of 22 Lower House lawmakers posted assets topping 100 million yen.
In addition to Aso, the LDP's Ichiro Aisawa also had assets exceeding 600 million yen.
Meanwhile, 94 lawmakers, including DPFP leader Yuichiro Tamaki, logged zero assets, up from 17 lawmakers in the previous tally.
Under the asset disclosure system, which began in 1993, lawmakers submitted reports including their real estate and financial assets as of Oct. 27 last year, the first day of their current terms.
Reported assets also include automobiles and golf club memberships.
The system has been criticized because ordinary deposits are not subject to disclosure and the disclosure of shareholdings is limited to the names and numbers of shares.
[Copyright The Jiji Press, Ltd.]
Photo by Reuters
