February 14, 2020
Bank of Japan
Financial Literacy:
Money Management for Creating a Life of Well-Being
Keynote Speech at a Seminar Hosted by the Tokyo Stock Exchange
AMAMIYA Masayoshi
Deputy Governor of the Bank of Japan
Introduction
It is an honor to have this opportunity today to address such a large audience.
Today, I would like to talk about financial literacy. Financial literacy refers to the knowledge
and decision-making skills used to manage one's money and personal finances. I have chosen
this topic because of its relevance to the advent of an unprecedented aging society, which has
been called the era of the 100-year life. In order to live a long life in your own way and, more
importantly, at a high level of well-being, it will be more important than ever to have the
knowledge and decision-making skills necessary to deal wisely with money.
Financial literacy has drawn international attention as one of the lessons learnt from the global
financial crisis more than a decade ago. The idea is that, to secure financial stability, it is
essential not only to strengthen financial regulations and supervision, but also to improve the
financial literacy of individual people, who act as investors. Indeed, at the G20 Los Cabos
Summit in 2012, the Leaders Declaration emphasized the importance for each country to
work strategically and systematically to provide financial education to people at all stages of
life. Also, at the G20 Finance Ministers and Central Bank Governors Meeting chaired by
Japan last year, the strengthening of financial literacy was put forward as a policy priority.1
Meanwhile, in Japan, the aging of the population, the increased use of cashless payment, and
the money and asset management associated with them have become increasingly popular
topics in the media. These topics have raised alarming cases highlighting the necessity for
financial literacy education. First, regarding population aging, if we make erroneous decisions
on money, the increasing longevity that should be celebrated, could instead become a cause
for increased financial burden. Second, the increasing use of cashless payment, which has
improved convenience in our daily lives, requires us to be even more careful about over-
spending or the misuse of personal information. And third, as the legal age of adulthood in
Japan will be lowered in April 2022, young adults will be required to make decisions and
assume responsibility as independent contracting parties from the age of 18, when most of
them are still in high school.
In this way, financial literacy is expected to become even more important. So, what is the
current state of financial literacy among the population of Japan? The Central Council for
Financial Services Information, which has its secretariat in the Public Relations Department
of the Bank of Japan, conducted a survey on this point. Today, I will explain the current state
of financial literacy in Japan and the challenges it raises, while making international
comparisons based on the survey.
I. The Central Council for Financial Services Information
First, I would like to provide an introduction to the Central Council for Financial Services
Information. As I just mentioned, the Council has its secretariat in the Public Relations
Department of the Bank of Japan. It promotes the advancement of financial knowledge under
the following two principles: to provide financial and economic information, and to
disseminate pecuniary education. It has a nationwide network with local committees in all 47
prefectures in Japan. In coordination with the head office, branches, and local offices of the
Bank of Japan, as well as the government, local public bodies, private entities, and others, the
Council works to enhance financial literacy in Japan from a neutral and fair position.
Before I continue, I would like to add that Mr. SHIBUSAWA Ken, who will be speaking after
me, and with whom I will be holding a discussion session later, has a relationship with the
Central Council. Mr. SHIBUSAWA's great uncle -- his grandfather's older brother -- was
Viscount SHIBUSAWA Keizo, the 16th Governor of the Bank of Japan. Viscount
SHIBUSAWA successively assumed the posts of Governor of the Bank of Japan and Minister
of Finance, and from 1952, he served as the first chairman of the Central Council, which was
then called the Central Council for Savings Promotion. Moreover, Viscount SHIBUSAWA
inherited the title from his grandfather, SHIBUSAWA Eiichi, who is well known for the
founding of many banks and firms, including Dai-ichi Kokuritsu Ginko (the First National
Bank), and who helped lay the foundations for modern Japan in the Meiji and Taisho periods
from the late 19th century to the early 20th century. SHIBUSAWA Eiichi has been very much
in the news recently as his life is the subject of the NHK Taiga Drama (the annual year-long
historical drama television series produced by NHK [Japan Broadcasting Corporation]) to be
aired in 2021. SHIBUSAWA Eiichi also has a close relationship with the Bank of Japan, and
his portrait will be printed on the new 10,000 yen Bank of Japan note to be issued from 2024.
II. Results of the Financial Literacy Survey
A. Overview
Now, I would like to move on to the main topic. The Central Council for Financial Services
Information conducted the Financial Literacy Survey last year. This survey was conducted
for the first time in 2016 and for the second time last year with the aim of understanding the
current state of financial literacy in Japan. It is an online questionnaire targeting 25,000
individuals aged 18 to 79 sampled throughout Japan.
The questions in the survey can be largely divided into two types (Chart 1). The first type of
questions are true/false questions on "financial knowledge and financial decision-making
skills." These are questions with correct answers, such as, "If interest rates rise, what will
typically happen to bond prices?" The correct answer is, "They will fall." The other type of
questions are those on "characteristics of behavior and attitude." These questions ask the
respondents how much each of the given statements, such as, "I set long-term financial goals
and strive to achieve them," apply to them personally. These questions have no correct answer,
and ask the respondents about their current state or attitude.
Next, I will introduce some interesting points and implications from the results of the 2019
survey.
B. Survey Results
1. Percentage of correct answers given to true/false questions
Looking at the percentage of correct answers given to the 25 true/false questions, the
nationwide average was 56.6 percent, an increase of 1 percentage point on the previous 2016
survey (Chart 2). The percentage of correct answers rose in all categories of the Financial
Literacy Map, including family budget management and financial knowledge. Also, the
percentages increased in almost all regions. In other words, financial literacy in Japan has
risen moderately overall over the past three years. By age group, the percentage of correct
answers tended to be higher for older age groups. This confirms that people's financial literacy
increases with various experiences through life and with more opportunity to engage in
financial transactions and acquire financial and economic information.
How does the level of financial literacy in Japan compare with that in other countries? When
comparing the percentage of correct answers given to the 11 common questions asked in the
Financial Literacy Survey with the results of a survey compiled by the International Network
on Financial Education (INFE) of the Organisation for Economic Co-operation and
Development (OECD), Japan ranked low, at 22nd out of 30 (Chart 3). As the results could be
affected by such factors as how the surveys were conducted and the nuance of the questions,
some leeway should be allowed. Nonetheless, financial literacy in Japan still has much room
for improvement, particularly in comparison with other countries and economies. Looking at
the results in more detail to find why Japan ranks so low, the percentage of correct answers
was notably low for questions on three subjects: inflation, compound interest, and diversified
investment. I will explain each of these specifically.
First, as for inflation, the true/false question was on the statement, "High inflation means that
the overall cost of living is increasing rapidly." The correct answer is of course "True." The
percentage of respondents who gave the correct answer in Japan was 62 percent, which was
far below that in other countries and economies, such as 97 percent in Hong Kong (China)
and 92 percent in Canada. Nevertheless, Japan's percentage soared for older age groups, and
nearly 80 percent of the respondents aged 60 or older answered correctly. I assume that this
age group remembers experiencing high inflation at times such as oil crises in the past, and
this led to a higher number of them giving the correct answer.
Next, regarding compound interest, the question asked how much would be in a savings
account after five years if 1 million yen is put into the account with a guaranteed interest rate
of 2 percent per year, and no further deposits or withdrawals are made, and tax deductions
are disregarded. The five options were: "More than 1.1 million yen"; "Exactly 1.1 million
yen"; "Less than 1.1 million yen"; "Impossible to tell from the information given"; and "Don't
know." The correct answer is "More than 1.1 million yen," due to compound interest. Less
than half of respondents in Japan chose the correct answer -- 44 percent to be precise, whereas
75 percent in the United States and 65 percent in Norway answered correctly. Speaking of
compound interest, Albert Einstein is said to have stated that compound interest is man's
greatest invention.2 What he actually intended by this remark is not known, but some say
that, having witnessed the rapid growth of the capitalist economy, Einstein regarded
compound interest as a symbol of the power of finance, which served as the driving force for
growth.
Lastly, the question on diversified investment asked whether the statement, "Buying a single
company's stock usually provides a safer return than a stock mutual fund," was true. The
percentage of respondents who selected the correct answer "False" was 47 percent in Japan,
and about the same portion selected "Don't know." Japan's result was again notably low when
compared with other countries and economies, such as 84 percent in South Korea and 80
percent in Jordan.
The percentage of correct answers given to all three of these questions tended to rise for older
age groups, suggesting that experience is an essential factor in acquiring financial literacy. In
particular, Japan has long experienced deflation or low inflation, extremely low interest rates,
and financial asset holdings centered on deposits and savings. It is therefore no surprise that
the percentage of correct answers on the subjects of inflation, compound interest, and
diversified investment was low, particularly among the youngest respondents, the 18-29 age
group. Financial education in schools, universities and so on will therefore play an important
role in compensating for their lack of experience. I would like to touch upon financial
education again later on.
2. Characteristics of respondents with high scores
What advantages come with having high financial literacy? Let me give an example. Chart 4
shows the relationship between the proportion of respondents who had experienced financial
trouble, such as so-called special fraud and multiple debts, and the percentage of those who
gave correct answers.3 Looking at these two by prefecture, we see a negative correlation. In
other words, the higher the financial literacy, the less likely it is to find oneself in financial
trouble. I find it extremely regrettable to say that financial crime in Japan
damage caused by
remains at a high level. According to a report by the National Police Agency, the number of
recorded cases of special fraud, including telephone-based identity deception, was about
16,000 cases in 2018, resulting in as much as 36 billion yen worth of damage.4 Simple math
reveals that one such case of fraud occurs every 30 minutes on average in Japan, causing 100
million yen worth of damage per day. Someone, somewhere in Japan, could well become a
victim of special fraud even as I deliver this 30-minute speech. I should also note that these
figures only represent those cases and the amount of damage recorded by the police, so the
true figure is likely to be even higher. In Japan, people continue to fall victim not only to
special fraud but to various other forms of financial crime. I believe that improving financial
literacy is an effective means of defense by which to reduce the number of such victims.
Apart from this, respondents with high scores in this survey share certain behavioral
characteristics. For example, (1) they keep up-to-date with the latest financial and economic
information, (2) they securely manage their family budget, (3) they have a long-term financial
plan, (4) they have emergency or rainy day funds set aside, and (5) they purchase a financial
product only after comparing it with other products and understanding the product details. As
these patterns show, those with high financial literacy have sufficient knowledge and
understanding of money and related issues, which in turn gives them high resilience to any
economic shocks or financial troubles.
C. Other Topics
Turning to the bigger picture, I would now like to introduce two points regarding the
characteristics of Japanese people's financial behavior and attitude, according to the Financial
Literacy Survey.
1. Investment stance
The first point concerns investment stance (Chart 5). Let us look at the answers given to the
following question: "Suppose that, if you invested 100,000 yen, you would either get a capital
gain of 20,000 yen or a capital loss of 10,000 yen at a 50 percent probability. What would
you do?" This is an investment with an expected return of 5,000 yen, that is, an expected rate
of return of 5 percent. The results show that more than three quarters of the respondents
answered, "I would not invest," suggesting that many are risk averse against losses resulting
from potential price declines. A preference for loss aversion is not necessarily unfavorable,
but if such behavior reflects a lack of financial knowledge, that would be a different story. In
this regard, it is cause for concern that nearly 40 percent of the total respondents answered
that they acquire financial and economic information -- through newspapers, magazines,
television, websites, and other sources -- less than once a month, which was unchanged from
the previous survey. Meanwhile, when respondents were asked, "Have you ever invested an
amount of money that exceeded your monthly living expenses?" about three quarters of them
answered, "I have not invested such an amount of money." From this, we can conclude that
Japanese people's investment stance is still conservative.
This conservative investment stance is also evident in the results of the Survey on Household
Finances, a survey conducted annually by the Central Council for Financial Services
Information (available only in Japanese; Chart 6). This survey comprises two separate
questionnaires: one targeting two-or-more-person households, and the other targeting single-
person households. When both types of households were asked, "To what extent do you intend
to hold financial products that have a risk of falling below par, but are expected to be
profitable, over the next one or two years?" about 80 percent of two-or-more-person
households and about 60 percent of single-person households answered, "I have no intention
of holding such products." Nevertheless, in the past few years, the proportion of respondents
answering, "I intend to hold such products," has increased slightly among both groups.5
2. Funds for retirement
The second point concerns funds for retirement. Going back to the Financial Literacy Survey,
respondents were asked to select the expenses they thought they would have to cover in the
future. The category "living expenses for retirement" was selected most, by about 60 percent
of respondents. While this reflects their strong awareness about retirement, the proportion of
those who had a detailed financial plan laid out for "living expenses for retirement" was only
about 30 percent, even among those in their 50s -- for whom retirement is approaching. And
this figure represents a decline from the previous 2016 survey (Chart 7). Similarly, focusing
on respondents in their 50s, the percentage of those who were "aware of" the amount of public
pension they were entitled to receive was slightly below 40 percent. For those who are 50 and
above, the Nenkin Teiki Bin (Pension Coverage Regular Notice), a postcard sent annually
from the Japan Pension Service, shows the anticipated amount of pension benefits they will
receive. If you are not familiar with this notification, I strongly recommend you check this
postcard.
Japan has one of the most rapid rates of declining birthrate and aging population in the world.
As of 2018, the average life expectancy was 81 years for men and 87 years for women, and
the proportion of those aged 65 years or older reached almost 30 percent of the total
population.6 While public pensions are generally the main source of income after retirement
in Japan, it is important to accumulate financial assets as necessary and take measures to
ensure these assets last for as long as possible, in accordance with one's life plan. In order to
do this, it is necessary to acquire a good understanding of money and devise a secure financial
plan for living expenses for retirement while still young. Moreover, given the survey results
showing that less than half of those in their 50s have a financial plan for living expenses for
retirement or know the anticipated amount of public pension benefits they will receive, we
would have to say that there is still significant room for improvement in Japanese people's
financial literacy, especially in this era of the 100-year life.
Closing Remarks
In sum, financial literacy in Japan is gradually improving, but it is not at a high level
in
When people's financial literacy improves, they tend to
comparison with other countries.
exhibit desirable financial behavior, such as setting long-term financial goals, and they
become less likely to find themselves involved in financial trouble. With advances in
digitization and the widespread use of smartphones, access to financial information and
services has become easier and more convenient, which is why we must acquire the
knowledge necessary to make the wisest and most effective use of these opportunities.
So, what do we need to further improve financial literacy in Japan? I think that education
holds the key. The knowledge and decision-making skills necessary for money and personal
finance change over time. It is therefore important to continue learning these skills and
acquiring this knowledge at school, university, and so on, and to deepen this understanding
through real-world experience throughout one's lifetime. Looking at the results of the
Financial Literacy Survey by attribute, the percentage of correct answers given by "those who
recognized themselves as having received financial education" offered by school or
workplace was frequently higher than those who did not, and they also exhibited more
desirable financial behavior (Chart 8). However, the proportion of those who received
financial education is still not so high (Chart 9). In recent years, owing to the efforts of the
people concerned, the proportion among the youngest respondents, the 18-29 age group, who
received financial education is higher than among the older generations, and has increased
slightly from the time of the previous 2016 survey. Yet the reality is that it is still less than 20
percent.
As I recall, it used to be considered taboo in Japan to talk about money to children, but this
tendency seems to have faded considerably in recent years. I would like to emphasize that
financial education is to learn about money so as to understand the workings of the world
they live in and make reasonable assessments and judgments in life. The contents of financial
education have been greatly expanded in the new Courses of Study that will be implemented
in primary schools in fiscal 2020, and later in secondary schools and high schools. At
universities as well, an increasing number of faculty want their students to have the
opportunity to participate in financial education before they graduate. Also, the proportion of
those who were taught how to manage their finances by their parents or guardians at home is
higher among younger age groups than among older generations.
As I mentioned at the outset, the momentum to improve financial literacy through financial
education is increasing worldwide. Amid this trend, the Central Council for Financial
Services Information has been carrying out various activities to promote financial education.
The main activities are grassroot initiatives undertaken in coordination with its local
committees, such as providing visiting lectures on financial literacy at educational institutions
from kindergarten to university, and holding seminars for workers or teachers. The number
of people who participated in lectures or seminars offered by the Council and other related
organizations such as the Financial Services Agency, the Japanese Bankers Association, and
the Japan Securities Dealers Association totaled around 600,000 during fiscal 2018. In
addition, the Council publishes pamphlets and booklets for different age groups to meet their
respective needs (Chart 10). It also publishes a quarterly public relations magazine about
various topics on money, titled Kurashi-juku Kin'yu-juku ("First steps toward financial
literacy for everyday life"; available only in Japanese). All of these are provided free of charge,
and we would be very pleased if you could make use of them.
Further information on the Central Council's activities, together with related releases, is also
available on its official website, "Shiruporuto" (Gateway to Knowledge), which is a nickname
of the organization. Recently, the number of page views has increased remarkably. This is
particularly gratifying as it is an indication of the public's growing interest in financial literacy
and financial education.
Last but not least, the Bank of Japan, for its part, will also continue with its efforts to
contribute to improving financial literacy through supporting the activities of the Central
Council for Financial Services Information.
Thank you for your attention.
Financial Literacy:
Money Management for Creating a Life of Well-Being
February 14, 2020
AMAMIYA Masayoshi
Deputy Governor of the Bank of Japan
Chart 1 Financial Literacy Survey
True/false questions on "financial knowledge Questions on "characteristics of behavior
and financial decision-making skills" and attitude"
 
If interest rates rise, what will typically I set long-term financial goals and
happen to bond prices? strive to achieve them.
1. They will rise
2. They will fall
Agree Disagree
3. They will stay the same
4. There is no relationship between bond
1 2 3 4 5
prices and interest rates
5. Don't know
Chart 2 Correct answers to true/false questions (1)
Nationwide average: 56.6% (2016 survey: 55.6%)
By region By age group
%
%
70
60
59
65
58
60
57
55
56
50
55
54
45
53
40
52
35
51
50 30
Age 18-29 30s
40s 50s
60s 70s
18-29歳 30歳代 40歳代 50歳代 60歳代 70歳代
2016年 2019年 2016年 2019年 2
Chart 3 Correct answers (2): International comparison
Questions with relatively low percentage of correct
OECD Survey (11 common questions)
answers in Japan
[1]
Finland
フィンランド

Inflation (true/false question): "High inflation means
[2]
France
フランス
that the overall cost of living is increasing rapidly"
[3]
New Zealand
ニュージーランド
[4]
Norway
ノルウェー
(China)
Hong Kong
[5]

Compound interest: "Suppose you put 1 million yen
香港(中国)
Austria
[6] into an account with a guaranteed interest rate of 2% per
オーストリア
Belgium year. If no further deposits or withdrawals are made, how
[7]
ベルギー
much would be in the account after 5 years (disregarding
Canada
[8]
カナダ
tax deductions)?"
Portugal
[9]
ポルトガル
South Korea
[10]
韓国
・ ・

Diversified investment (true/false question): "Buying a
・ ・
・ ・
single company's stock usually provides a safer return
[22]
Japan
日本
than a stock mutual fund (a financial product for
・
・
investing in stocks of several companies)"
・
・
・
・
Chart 4 High scores vs Financial trouble
Percentage of correct answers and
proportion of respondents who had
(Reference) Damage caused by special fraud
experienced financial trouble
100 mil. yen
cases
12
Amount of damage
20,000 600
caused by special
fraud (right scale)
18,000
(%),
10
500
16,000
trouble
14,000
8
6.7
400
12,000
financial
6
10,000 300
average:
8,000
200
4
Number of recorded
6,000
cases of special fraud
experienced
nationwide
4,000
(left scale)
100
2
who
2,000
0 0
Those
0
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
50 52 54 56 58 60 62
Source: National Police Agency, Cases of Special Fraud Reported and Arrested,
Correct answers (%) nationwide average: 56 6
Chart 5 Investment stance
Risk-taking stance Money investment

Have you ever invested an amount of money

Suppose that, if you invested 100,000
that exceeded your monthly living expenses?
yen, you would get either of the
 When you invested such an amount in a
following at a 50% probability:
financial product most recently, did you
- a capital gain of 20,000 yen, or
compare it with other financial institutions'
- a capital loss of 10,000 yen.
products or other types of financial products
What would you do?
in order to choose one that was considered
to be the most beneficial?
%
%
I invested such an amount of money
after making comparisons, 17.1 (15.6)
I would invest,
22.7 (21.4)
I have not invested such an
amount of money,
I invested such an amount of
I would not
74.5 (75.2)
money without making any
invest, 77.3
comparison, 8.4 (9.2)
(78.6)
Note: Figures in parentheses represent the
results of the 2016 survey.
Chart 6 Investment stance (Survey on Household Finances)

To what extent do you intend to hold financial products that have a risk
of falling below par, but are expected to be profitable, over the next one
or two years?
Two-or-more-person households
Single-person households
8.6 30 61.4
83.2 2010年
1.5
2010 2010年 2010 8.6 30 61.4
2010年 1.7 13.6 83.2
1.5
2011年 8 27.6 64.4
82.9 1.9
8 27.6 64.4
2011 1.3 13.9 82.9 1.9 2011年 2011
2011年
84.5 1.5 2012年 7.6 29.8 62.6
2012年 7.6 29.8 62.6
2012年 2012 1.5 12.5 84.5 1.5 2012
1.6 9.7 26.8 63.5
82.6 2013年
1.6 9.7 26.8 63.5
1.7 14.1 82.6 2013年
2013年 2013 2013
81.5 1.2 2014年 10.2 25.8 63.9
10.2 25.8 63.9
2014年 1.9 15.4 81.5 1.2 2014年
2014 2014
10.5 25.7 63.8
80.2 1.6 2015年
2015年 1.8 16.4 80.2 1.6 2015年 10.5 25.7 63.8
2015 2015
1.9
80.7 2016年 10 25.2 64.9
2.1 15.3 80.7 1.9 10 25.2 64.9
2016年 2016年
2016 2016
80.8 1.8 9.8 26 64.3
2017年
2017年 2.0 15.4 80.8 1.8 2017年 9.8 26 64.3
2017 2017
1.4
80.5 10.8 25.7 63.5
2018年
1.4
2.5 15.6 80.5 10.8 25.7 63.5
2018年 2018年
2018 2018
1.5
78.9
2019年 11.4 27.4 61.2
1.5
2019年 2.2 17.4 78.9 11.4 27.4 61.2
2019年
2019 2019
40% 60% 80% 100% 0% 20% 40% 60% 80% 100%
0% 20% 40% 60% 80% 100% 0% 20% 40% 60% 80% 100%
0 20 40 60 80 100 0 20 40 60 80 100
%
%
そうした商品についても、 そうした商品についても、 そうした商品を 無回答
I intend to hold such I intend to hold such I have no intention of
No answer
そうした商品についても、 そうした商品についても、 そうした商品を 無回答
積極的に保有しようと思っている 一部は保有しようと思っている 保有しようとは全く思わない
products proactively. products to some extent. holding such products.
積極的に保有しようと思っている 一部は保有しようと思っている 保有しようとは全く思わない
Chart 7 Funds for retirement
Percentage of respondents with a
Understanding of one's own public
financial plan for "living expenses for
pension (those in their 50s)
retirement"
%
90 90
知らない
知っている I don't know
I know
80
80
受け取れる金額
Receivable amount 37.4 62.6
70
70
被保険者と
Category of insured
60
60
48.7 51.3
person
しての種類
50
50
年金受給の
Required number of
49.3 50.7
40
40
years of payment
必要加入期間
30 年金の支給
30
Age of starting to
50.5 49.5
開始年齢
receive the pension
20
20
加入している
10
10
Category of public 71.2 28.8
公的年金の種類
pension
0
0
Age group
%
18-29 30s 40s 50s 60s 70s 0 20 40 60 80 100
%
20代 30代 40代 50代 60代 70代
2016年 2019年
Chart 8 Effects of financial education
Correct answers and behavior by occupation/age group
(%),
70
Participated in financial
education
65
behavior
Adults
Teachers
(age 30-59)
59.5
60
financial
Young adults
Did not participate
(age 18-29) Senior citizens
in financial
samples:
(age 60-79)
55
education
all
Average of all samples
desirable of Students
(age 18-24)
50
average
exhibited
45
who
40
Those 40 45 50 55 60 65 70
Correct answers (%), average of all samples: 56.6
Chart 9 Experience of financial education
Financial education at school, etc.
Financial education at home

Was financial education offered at 
Did your parents or guardians teach
your school or college, or at your
you how to manage your finances?
workplace?
70s
70s
1.4 6.5 84.2 7.8
18.3 71.4 10.3
70歳代
70歳代
60s
60s 83.9
1.6 5.8 8.6 18.3 70.3 11.4
60歳代
60歳代
50s
50s 1.2 6.6 79.5 12.7
18.4 66.5 15.1
50歳代
50歳代
40s
1.4 5.3 75.7 17.6 18.4 62.7 18.9
40s
40歳代 40歳代
30s
1.8 7.3 70.6 20.4 21.5 57.5 21.0
30s
30歳代 30歳代
3.3 12.5 53.7 30.5 28.2 43.5 28.4
Age 18-29
Age 18-29歳 18-29 18-29歳
(2.7) (10.7) (56.1) (30.5)
(26.6) (43.3) (30.2)
0 20 40 60 80 100
0 20 40 60 80 100 %
0% 20% 40% 60% 80% 100% 0% 20% 40% 60% 80% 100%
%
受ける機会はあったが、自分は受けなかった Yes, but I did not participate in the financial education offered
受ける機会があり、自分は受けた
Yes, and I did participate in the financial education
機会はあった 機会はなかった わからない
Yes No Don't know
受ける機会はなかった
No
Chart 10 Tools for financial education
Pamphlets for respective age groups
Website of the Central Council for
Financial Services Information
Primary and
secondary school
students High school
students
10 thous.
University students
100
90
Adults
80
of
70
views
60
Number
page
PR magazine Kurashi-juku Kin'yu-juku
50
("First steps toward financial literacy for
40
4 6 8 10 12 2 4 6 8 10 12 2 4 6 8 10 121
everyday life")
2017 2020 10