Japan’s net external assets rise to an all-time high of ¥561.8 trillion (about $3.5 trillion) at the end of 2025, but Japan remains behind China and Germany in the ranking of global creditors. According to the reports, Japan’s total improves year-end figures and reaches a record level, yet it is overtaken by China because China’s net external assets grow at a faster pace. The coverage from both outlets describes the change as a shift in global creditor standings rather than a decline in Japan’s own position, emphasizing that Japan’s assets increase even as its relative rank drops. Both sources also agree on the top two: Germany and China sit ahead of Japan in the world’s largest creditor list, with Japan moving to third place. The accounts point to the end-of-2025 data as the basis for the ranking, reflecting comparative growth across major economies.