New figures from the Nomura Research Institute show that the wealth of high net worth individuals in Japan has increased by Y50,000 billion ...

New figures from the Nomura Research Institute show that the wealth of high net worth individuals in Japan has increased by Y50,000 billion ($428 billion) - 31 per cent - in the last two years to Y213,000 billion. In this study, HNWs are defined as those with net financial assets of over Y100 million. The study points out that Japan’s baby boomers, those now in their late 50s, who will be seeking advice on retirement over the next few years, are much more interested in hedge funds, commodity funds and structured products than members of the previous generation of wealthy Japanese people, who also had a negative view of wealth managers. The research shows that there are about 56,000 people with more than Y500 million in net financial assets, and about 800,000 with more than Y100 million. According to the Nomura Research Institute, this demographic change gives private banks a huge opportunity in Japan, and one that may be overlooked in the scramble to access the Chinese market.