Noting the country’s leading position in the global economy – with the world’s third-largest gross domestic product – global consultancy giant McKinsey has praised Japan’s strong national balance sheet, and dynamic manufacturing and machinery sectors. The country’s total assets rank second globally, at a remarkable 23 times GDP.
In a 2022 report, McKinsey asserted that “Japanese banks have renewed opportunities to become engines of prosperity” at “a critical juncture” in the country’s economic history. The company noted that Japan’s banks have a dual mission as “engines of prosperity” – both their own growth, and “their
