Japan Retail Sector: At 2.9mn, Japan‘s affluent population ranks third globally

Research evidence excerpt

Japan Retail Sector: At 2.9mn, Japan‘s affluent population ranks third globally

Global Research

1 July 2026ab

Japan Retail Sector Equities

JapanAt 2.9mn, Japan's affluent population ranks

third globally Retail

Takahiro Kazahaya

Analyst

takahiro.kazahaya@ubs.com

Summary +81-3-5208 6226

UBS published its Global Wealth Report 2026 on 30 June. In this report, we summarise Kazuki Oike

Japan-related trends from the Global Wealth Report 2026 and implications for the Associate Analyst

sector. kazuki.oike@ubs.com

+81-3-5208 6964

Median wealth per adult: Japan ranks 10th globally

In 2025, Japan’s total population was 123.103mn, GDP per adult was US$41,307,

average wealth per adult was US$211,846, ranking 24th among the global countries

and regions, and median wealth per adult was US$135,745, ranking 10th globally. Total

wealth held by individuals with assets of at least US$1mn amounted to US

$6.131328trn, equivalent to ¥981.0125trn at an exchange rate of ¥160/US$. While

Japan’s ranking for wealth per adult was higher on a median basis than on an average

basis, on a yen-denominated/real basis, wealth per adult in Japan increased by about

10.0% on an average basis from 2020 to 2025, versus about 50.0% on a median basis,

indicating that wealth per adult rose broadly across the population in 2020-25. The Gini

index in Japan was 0.53 in 2025, ranking 51st among the 56 major countries/regions.

The US in 2025 ranked second in average wealth per adult and 28th in median wealth

per adult. On a dollar-denominated/real basis, average wealth per adult in the US

increased by about 10.0% from 2020 to 2025, while the median wealth per adult

declined by about 20.0%, with the Gini index in 2025 at 0.77.

Japan ranks third globally in the number of affluent individuals with wealth of