Japan Remittance

Goals

Determine the percentage of remittance into Japan below 1,000,000 yen and the percentage of remittance into Japan above 1,000,000 yen, for each year from 2014-2019.

Early Findings

  • In 2017, $4,578,000,000 was sent from other countries in remittance to Japan.
  • The US sent the most to Japan; $1,593,000,000 was sent from the US.
  • Information on the yearly amount sent to Japan can be found here.
  • No information on the breakdown of remittance amount into those over 1,000,000 yen and those below 1,000,000 yen was available.
  • The Bank of Japan monitors "all overseas transfers of more than JPY 2,000,000 (USD 18,777)."
  • For any remittance exceeding JPY 30,000,000 (USD 280,200), "a report to the Minister of Finance is required."
  • Additionally, it was found that "remittance services typically have a top limit between 500 000 yen (USD 4,600) and 1 million yen (USD 9,200) per transaction, banks usually set limit per day not per transaction, and its from 1 million yen will 10 million yen (USD 92,800)."

Proposed next steps:

You need to be the project owner to select a next step.