245% vs. 41%. A very different narrative than what is in the mainstream press.
“Japanese government owes debt of 1,269.1 trillion yen, and owns assets of 822.2 trillion yen, therefore the net debt is 447 trillion yen at the end of March, 2013. The net debt relative to GDP ratio is about 90 percent.
As of December 31, 2014, the BOJ holds JGBs worth 254 trillion yen. If we subtract this from the net debt, the net debt relative to GDP ratio becomes 41 percent.”