Japan's total government debt rose to a record ¥1.34 quadrillion as of the end of December 2025, up ¥8.58 trillion from three months earlier, the Finance Ministry announced on Tuesday. General government bonds stood at ¥1.09 quadrillion, an increase of ¥6.27 trillion.
The Japanese government's total debt climbed by ¥8.58 trillion from the previous quarter to a record ¥1.34 quadrillion as of December 31, 2025, according to the Finance Ministry's announcement on Tuesday.
Within this total, general government bonds increased by ¥6.27 trillion to ¥1.09 quadrillion. Borrowings rose ¥2.95 trillion to ¥44.1 trillion, while financing bills—used for short-term funding needs—fell ¥99.8 billion to ¥100 trillion.
The draft state budget for fiscal 2026, to be discussed in a special parliamentary session starting February 18, plans to issue ¥29.5 trillion in new government bonds, up from ¥28.6 trillion in the initial fiscal 2025 budget.
Amid rising interest rates, debt-servicing costs, which include bond redemptions and interest payments, are projected to reach a record ¥31.2 trillion.
