Japan's National wealth falls

Japan's national wealth fell for the first time in three years in 2008, according to figures released by the Cabinet Office.

The national wealth, which is calculated by subtracting public and private sector debts from the country's total assets, declined 1 percent in the year to 2,783 trillion yen ($30.8 trillion).

Japan's total assets dropped sharply to 8,016.3 trillion yen, down 5.1 percent from a year earlier. It was the second consecutive annual fall. Debts stood at 5,233.2 trillion yen.