Doha: Japan has lost its position as the world's largest creditor nation for the first time in 34 years, despite posting a record amount of overseas assets. The country's net external assets totaled 533.05 trillion yen ($3.7 trillion) at the end of 2024, rising about 13% from the previous year, according to data released Tuesday by Japan's Finance Ministry.

According to Qatar News Agency, while the figure marked an all-time high, Japan was overtaken by Germany, whose net external assets totaled 569.7 trillion yen. Japan began its streak at the top by overtaking Germany in 1991.

For Japan, a weaker yen contributed to increases in both foreign assets and liabilities, but assets grew at a faster pace, driven in part by expanded business investment abroad. Tuesday's data generally reflect broader trends in foreign direct investment. In 2024, Japanese companies maintained a robust appetite for foreign direct investment, particularly in the United States and the United Kingdom, according to the ministry.

Sectors such as finance, insurance, and retail attracted significant capital from Japanese investors, the ministry said.