[2026 Edition] Survey on Asset Management Practices of 250 Affluent Individuals with 100 Million Yen or More in Financial Assets

LIS LLC (Headquarters: Minato-ku, Tokyo) conducted a survey targeting affluent individuals with net financial assets of 100 million yen or more through its asset management media for the ultra-wealthy, "AFFLUENT THEORY." This survey analyzed the asset allocation status, including cash and deposits, domestic stocks, crypto assets, and real assets, as well as awareness of securities-backed loans and crypto asset-backed loans, and satisfaction with asset management consultation services among 250 individuals holding net financial assets of 100 million yen or more. The results revealed characteristics among the affluent regarding a preference for "preserving assets" and their choices for asset management consultation.

Background and Objectives of the Survey

In recent years, with the rise in stock market performance and the depreciation of the yen, the number of affluent and ultra-affluent individuals with net financial assets of 100 million yen or more has continued to increase. According to estimates by the Nomura Research Institute, the total number of affluent and ultra-affluent households reached 1.653 million in 2023, an increase of 11.3% from 2021. As asset scale expands, the options for asset allocation and financing are also diversifying.

To date, knowledge regarding the asset management of affluent individuals has been accumulated by private banks and securities firms. However, up-to-date data, including differences based on generation and occupation, regarding the actual holdings of crypto assets and the awareness and usage of methods like "securing funds without selling assets" such as securities-backed loans and crypto asset-backed loans, had not been fully clarified.

Against this backdrop, this survey aimed to examine the realities and challenges of asset management among the affluent by comprehensively analyzing asset allocation, crypto asset holdings, overseas asset ratios, awareness of collateralized loans, and asset management consultation destinations for individuals with net financial assets of 100 million yen or more.

Survey Overview

Survey Theme

Survey on Asset Management Practices of 250 Affluent Individuals with 100 Million Yen or More in Financial Assets

Implementing Body

LIS LLC

Survey Method

Online questionnaire survey (screening survey and main survey)

Survey Period

June 22-23, 2026

Survey Target

Men and women aged 20 and over with net financial assets of 100 million yen or more

Sample Size

250

This survey was conducted by LIS LLC from June 22 to June 23, 2026. The target audience was men and women aged 20 and over with net financial assets of 100 million yen or more, and 250 data points were collected through an online questionnaire survey (screening survey and main survey).

Survey Results

According to the results of an original survey conducted among 250 affluent individuals with net financial assets of 100 million yen or more, 36.8% of the total accounted for those with a cash and deposit ratio exceeding 50%, and one in four had 80% or more in cash and deposits. On the other hand, 21.6% currently hold crypto assets, with this figure reaching 40.0% among those in their 20s, while remaining at 6.6% for those aged 60 and over, clearly showing generational differences.

This article will publish the survey results, including cross-tabulations by age, gender, occupation, and industry, for all items. We investigated the actual state of asset management for the affluent, from asset allocation status to awareness of securities-backed loans and crypto asset-backed loans, the composition of consultation partners, and satisfaction levels, so please refer to it.

Actual Asset Allocation of the Affluent | How Assets are Allocated

The asset allocation of the affluent clearly shows a structure with high ownership rates of cash and deposits and domestic stocks, and relatively low ownership rates of overseas real estate and alternative investments. Comparing the percentage of respondents who answered "hold 1% or more" for each asset class (excluding 0% responses) reveals significant differences in ownership spread.

Nearly all respondents (98.0%) hold a certain proportion of cash and deposits, and domestic stocks also have a high ownership rate of 85.6%. On the other hand, overseas real estate (26.0%) and alternative investments (30.0%) have ownership rates around 30%, suggesting that a domestic-centric, traditional asset-centric allocation is the basic form for the affluent as a whole.

Crypto assets are held by 33.6%, which is notably wider than overseas real estate and alternative investments.

Affluent Individuals' Hoarding of Cash and Deposits | 36.8% Hold Over 50% in Cash and Deposits

Regarding the ratio of cash and deposits, including idle funds not planned for immediate use, among the financial assets held by the affluent, 36.8% of the total accounted for those with a cash and deposit ratio of 50% or more.

Of these, 24.0% held 80% or more in cash and deposits, which is one in four individuals.

This is thought to be related to the fact that "not losing assets (preservation)" was the most emphasized point in asset management, accounting for 34.0%.

"Preparation for inflation and yen depreciation" also ranked second at 19.2%, indicating a tendency to prioritize defense over investment, reflected in the high ratio of cash and deposits.

The stronger the "defensive" need, the larger the asset scale. This also leads to demand for securing funds without selling existing assets. As shown in the National Tax Agency's Tax Answers, crypto assets and securities become taxable at the time of sale, so loans secured by existing assets can be an option for securing funds while preserving assets.

In fact, 33.2% of respondents are "aware of the mechanism but have never used it" for securities-backed loans and crypto asset-backed loans, indicating a high level of interest.

Affluent Individuals' Crypto Asset Holdings are Divided by Generation and Position

Regarding crypto asset holdings (Bitcoin, Ethereum, etc.), 21.6% currently hold them. Including those who have held them in the past, the figure reaches 26.4%, meaning more than one in four affluent individuals have had some contact with crypto assets.

Generational differences are striking. While 40.0% of those in their 20s and 51.6% in their 30s currently hold crypto assets, this figure drops to 6.6% for those aged 60 and over.

Younger generations tend to have less resistance to crypto assets and are incorporating them as part of their portfolio.

20s (n=20) 40.0%30s (n=31) 51.6%40s (n=39) 30.8%50s (n=38) 26.3%60s and over (n=122) 6.6%Table 5: Comparison of Crypto Asset Ownership by Generation (Percentage currently holding) *Please note that the number of respondents in their 20s (n=20) is small and should be viewed as a reference value.

Differences are also clear by occupation. The ownership rate among company employees (regular employees) reaches 37.4%, while it significantly decreases to 6.5% for business owners and executives.

Business owners and executives also show a conservative tendency across other asset classes, with 80.7% holding 0% in alternative investments and 83.9% holding 0% in overseas real estate. Their utilization rate of securities-backed loans and crypto asset-backed loans is also

11.3%, lower than the overall average (18.8%).

It is thought that due to their position, where they are conscious of corporate credit and external reputation, they tend to avoid assets with high price volatility or leveraged methods for their personal assets.

The taxation of crypto assets is a key point that directly impacts individual asset strategies when assets are sold.

National Tax Agency Tax Answer No. 1524 indicates the tax implications when profits are generated from the use of crypto assets, and taxation generally occurs at the time of sale or use.

Affluent Individuals' Real Assets | Holdings of Gold, Luxury Watches, and Art

Regarding real assets held, precious metals such as gold and platinum accounted for 44.8%, and luxury watches and jewelry for 42.8%, both with ownership rates exceeding 40%. Art and antiques were 24.4%, wine and whiskey etc. were 23.6%, and antique coins were 16.0%.

On the other hand, 31.6% of respondents held none of these, a relatively high figure.

When focusing on business owners and executives, the ownership rate of luxury watches and jewelry increased to 56.45%, significantly exceeding the overall average. This suggests that real assets play a role in the asset strategies of the affluent from the perspective of inheritance planning and clarity of valuation standards.

Read an explanation of antique coin investment, a type of real asset, here.

Do Affluent Individuals Hold Assets Abroad? | 43.2% Hold 0%, 21.2% Hold 30% or More

Regarding "assets held abroad" such as overseas accounts, overseas private banking, and foreign currency-denominated products, 43.2% of respondents answered 0% (domestic only). On the other hand, 21.2% held 30% or more abroad, showing a clear polarization in the utilization of overseas assets.

By age group, 60.66% of those aged 60 and over and 63.16% of those in their 50s answered "0%," indicating a stronger tendency to concentrate assets domestically as age increases. Meanwhile, a certain number of respondents in their 30s and 40s reported having 80% or more in overseas assets, suggesting a more proactive stance towards international asset diversification among younger generations.

Awareness of the "Borrow Without Selling" Method | 33.2% Know the Mechanism but Haven't Used It, the Highest Percentage

Regarding "securities-backed loans" and "crypto asset-backed loans," which allow for fundraising by using existing securities or crypto assets as collateral without selling them, 18.8% have "used them after knowing the mechanism," and 33.2% "know the mechanism but have never used it," which was the highest percentage. "Did not know" accounted for 24.4%.

The fact that over 30% fall into the "know but haven't used" category indicates that while product awareness is progressing, many are hesitant to actually use them. In their 30s, 48.39% reported having used them, while this figure was only 6.56% for those aged 60 and over, again showing generational differences. Business owners and executives had a utilization rate of 11.29%, lower than the overall average, suggesting caution about pledging assets as collateral.

Securing funds without selling securities or crypto assets can potentially meet funding needs while controlling the timing of taxation on capital gains. As indicated in National Tax Agency Tax Answer No. 1524 regarding the tax implications of selling assets, the high interest in methods that allow fundraising while retaining assets is likely related to these tax characteristics.

Who Do Affluent Individuals Consult for Asset Management? | Banks 32%, Securities 30.4%, 31.2% Decide Independently

Regarding who they currently primarily consult for asset management, bank (main bank, etc.) representatives ranked first at 32.0%, followed by securities firm representatives at 30.4%. On the other hand, "do not consult (decide independently)" accounted for 31.2%, a high proportion second only to banks.

When asked about satisfaction with proposals received from current financial institutions and professionals, "satisfied" was 16.4% and "somewhat satisfied" was 26.8%, while "not applicable" accounted for 24.0%, a much higher proportion than clear dissatisfaction ("somewhat dissatisfied" 3.6% + "dissatisfied" 2.8% = 6.4%). "Neither satisfied nor dissatisfied" was also 26.4%. Overall, rather than strong dissatisfaction, the characteristics suggest that many are in a passive state of "not having a fixed consultation partner" or "not receiving proactive proposals."

Assets Affluent Individuals Want to Increase in the Future | Domestic Stocks 49.2%, Overseas Stocks 36.4%

Regarding asset classes that affluent individuals wish to increase their holdings in over the next 1-3 years, domestic stocks ranked first at 49.2%, followed by overseas stocks at 36.4%. Domestic real estate was 19.2%, and bonds were 18.4%.

Compared to current asset allocation, while overseas real estate and alternative investments have a certain level of ownership, they are not ranked high in terms of intention for active expansion in the future. The aggressive stance towards stocks (domestic and overseas) is expected to continue, while interest in overseas real estate and alternative investments appears limited.

Conclusion | Affluent Individuals' Asset Management Shows Both "Preservation Orientation" and "Lack of Consultation Partners"

This survey reveals that affluent individuals do not necessarily pursue aggressive investment strategies, but rather have a strong preservation orientation that prioritizes protecting their assets. Simultaneously, while many consult banks and securities firms, over 30% responded that they "decide on their own," indicating that a certain number of individuals lack sufficient contact with professionals and asset management companies.

36.8% of those with cash and deposit ratios of 50% or more indicates a strong preservation orientation reflected in asset allocation.

Crypto asset ownership is 21.6%, with significant generational differences: 40.0% for those in their 20s and 6.6% for those aged 60 and over.

Securities-backed loans and crypto asset-backed loans are most commonly "known but not used" at 33.2%.

Consultation partners are mainly banks and securities firms, with 31.2% deciding on their own.

Satisfaction with current proposals shows "not applicable" at 24%, indicating indifference or lack of proposals rather than dissatisfaction.

Significance and Impact of Survey Results

These survey results demonstrate that affluent individuals do not necessarily pursue aggressive investment strategies but have a strong preservation orientation that prioritizes protecting their assets, while also highlighting generational differences in asset perspectives.

While 31.2% of affluent individuals with net financial assets of 100 million yen or more "decide on their own without consulting anyone," crypto asset ownership shows a large generational gap (40.0% for those in their 20s vs. 6.6% for those aged 60 and over), suggesting the need for different consultation partners and information touchpoints for each generation. The finding that a certain number of affluent individuals are unable to find suitable consultation partners as their asset scale expands underscores the necessity of the second opinion services on asset management provided by LIS LLC.

Contact Information

For inquiries regarding asset management, tax-saving strategies, or any other questions,

please feel free to contact us here.

LIS LLC

Company Name: LIS LLC Address: Hamamatsucho Daiya Bldg. 2F, 2-2-15 Hamamatsucho, Minato-ku, Tokyo Representative: Daisuke Kunitomi Business Activities:

Asset Management Consulting Financial Strategy Consulting Luxury Experience Consulting Management Consulting (Marketing) HP: https://lis-inc.biz/