Japan's net external assets at the end of 2022 grew 0.2 percent from a year before to 418,628.5 billion yen, hitting a record high for the fourth straight year thanks to the yen's steep depreciation, the Finance Ministry said.

The dollar stood at 132.1 yen at the end of 2022, up some 17 yen from a year before. While the yen's weakness helped increase Japan's external debts by some 28 trillion yen, it also boosted the country's external assets by around 108 trillion yen, the Jiji Press reported, citing the ministry's figures.

The balance of external assets owned by the government, companies and individuals in Japan rose 6.5 percent to 1,338,236.4 billion yen, increasing for the 14th consecutive year.

Of the total, direct investment grew 17.3 percent to 274,749 billion yen. Securities investment dropped 8.4 percent to 531,290 billion yen, mainly due to falling prices for foreign securities.

The balance of external debts rose 9.6 percent to 919,607.9 billion yen, hitting a record high for the fourth consecutive year.