While only 20% take action for information gathering, a contradictory action shown among Japanese young people about financial planning

TOKYO, Oct. 12, 2023 /PRNewswire/ — RENOSY, a Japanese real estate investing service operated by GA technologies Co., Ltd (Headquarters: Minato-Ku, Tokyo; CEO: Ryo Higuchi; Securities code: 3491; hereinafter as the Company, carried an online questionnaire among 1,037 employee candidates who are going to join the GA group in 2024, about their opinions about financial management plan, and formal education on the topic. These employee candidates who are going to join the company next year are the generation of those who haven’t had the chance to have formal financial education in their teenage years and have been spending their 20s and 30s during the post 2018 financial crisis. 

※The generation are the ones who haven’t had the chance to have formal financial education in their teenage years and have been spending their 20s and 30s during the post 2018 financial crisis. 

Key Highlights:

  • 【Level of insecurity towards financial plan for the future】
    – About 80% of the employee candidates interviewed answered that they are worried about their financial plans for the future.
    – About 20% of the employee candidates interviewed said that they are learning or gathering information about financial plans currently.
    – 56.8% answered that they are not confident when it comes to knowledge about financial planning. On the other hand, 25% answered that they are confident about it.
  • 【Interest level about financial planning for the future
    – 82.6% of the employee candidates answered that they want to start planning for their financial future once they are out of school.
    – Most people plan to spend 20% of their salaries on financial planning.
    – Top 3 most popular ways for financial planning are as follows: No1. Nippon Individual Saving Account (※NISA), No2. mutual fund, No3. Japanese stocks.
    Only 13.8% of the employee candidates said that they understand the details about the new Nippon Individual Saving Account plan.

(※) Nippon Individual Saving Account abbreviated as NISA, is a tax-free program for building up your investment. Account owners can invest stocks or mutual funds without paying tax on capital gains or income gains.

Source of reference: Japan Securities Dealers Association (https://www.jsda.or.jp/en/activities/research-studies/html/NISA.html)  

  • 【Interest level about financial education
    – About 80.9% answered that they did not get a chance to receive a formal financial education when they were in school.
    – About 71.7% answered that they would like to attend such seminars or lectures about financial planning if they could. 

<”Online questionnaire about opinions on financial education & financial plan for the future” >

  • Research method: Online research
  • Research period: August 29, 2023〜 August 31, 2023
  • Research done by: GA technologies(using internet research tool: Fastask)
  • Research target: Age 18~ 25 (both males and females)
  • Number of questionnaire retrieved: (sample size): 1,037

※ The percentage has been rounded up to the first decimal in which it may not add up to 100% exactly. 

Insecurities about financial plan for the future】

About 80% of employee candidates answered that they are worried about financial plans for the future

Overall, about 80% of the young people who participated in the questionnaire this time answered that they feel insecure about financial plans for the future. The details about the percentages are as follows: 

  • 31.6%: feel very insecure.
  • 47.4%: feel a little bit insecure.

While most people who participated in this research answered with a negative response about financial planning; about 21.8% are taking actions on learning or gathering information about the topic which is 1 out of every 5 people among our employee candidates.

When it comes to the question about how well you feel you possess the knowledge about financial planning, 56.8% answered that they are not confident about it. (34% are not so confident about it, 22.8% feel not confident about it at all) On the other hand, only 25% answered that they are confident about it. (6.9% are very confident about it, 18.1% feel a little bit confident about it) As we can see from the answers most employee candidates do not feel they have enough understanding about financial planning, also are not learning such information actively, which leads to huge anxiety among these young people. 

80% of young people are worried about their finances for the future
80% of young people are worried about their finances for the future

Level of interest towards financial planning】

82.1% of the employee candidates said that they would like to start a plan for their own finances once they are out of school. Most of the employee candidates; about 24.7%, said that they plan to spend 20% of their salaries on financial planning.  

Top 3 most popular methods for financial planning chosen by the employee candidates are as follows: No1. Nippon Individual Saving Account, No2. mutual fund, No3. Japanese stocks. While most employee candidates answered they would consider “Nippon Individual Saving Account” as the primary way for managing their finances; only 13.8% said that they understand the details about the new NISA plan. As we can see most Japanese young people do not have enough knowledge or the momentum to keep up with the topics about finance management. 

Level of interest about financial education】

About 80% of the young people interviewed this time said that they have never received any financial education in schools

1 and a half years have passed since the policy of a formal financial education is required for all Japanese high school students starting from April 2022 announced by the Japanese government. 80.9% of the employee candidates interviewed this time said that they have not received any financial education in schools, and they said they would like to receive such lectures if it was possible while they were still in school. 


Making financial education a requirement for Japanese high school students was a policy revised by the Japanese government following a “curriculum guideline” determined by the Ministry of Education, Culture, Sports, Science and Technology. All Japanese high schools must incorporate a curriculum about investment & financial planning starting from April 2022. The home economics classes in all high schools must incorporate teachings about how to manage and utilize money in an effective way to high school students. 

Reference: Curriculum guideline policy revision for 2017, 2018,2019 by the Ministry of Education, Culture, Sports, Science and Technology: https://www.mext.go.jp/a_menu/shotou/new-cs/1384661.htm

About 70% are willing to participate in seminars about financial planning if companies offered such opportunity as employee benefit

About 70% of employee candidates said that they are willing to participate in seminars about investment & financial planning if companies offered such opportunities as part of its welfare program. (35.7% answered they will participate if such an event is provided, 36% said even though they are not sure whether to participate or not, it will be a good idea for companies to provide that) Overall, most of the employee candidates show their willingness to attend such events if such opportunity is offered. 

※ The names of the company, services, products mentioned in this release are officially registered as trademark by GA technologies Co., Ltd.

※ Please use the service name “RENOSY” whenever the data, contents in this release is mentioned, repost, refer to publicly

RENOSY has collaborated with Benefit One Inc. to provide its service through Benefit One’s member exclusive welfare service platform “Benefit station”. By providing RENOSY’s service on Benefit station platform, RENOSY is able to reach 11.62 million registered members to provide a new option about financial planning as an employee benefit (※). RENOSY has offered a variety of services including seminars about investment and financial planning for working adults to help improve financial knowledge of these people. 

※ Press release: “RENOSY operated by GA technologies Co., Ltd. started to provide its service on Benefit station to 11.62 million registered members as a new option of investment & financial planning as an employee benefit” (Released on July 19, 2023) https://www.ga-tech.co.jp/news/_f07tgfqqujs0vx/ 

RENOSY: Online comprehensive real estate service platform 

RENOSY is a platform that provides a range of real estate services to our customers. The service incorporates AI and other technology to make real estate transactions and investment easier and faster. Starting from property information research to the management of your property, we offer a one-stop online service to our customers. According to the research conducted by Tokyo Shoko Research, RENOSY has the No.1 sales performance in the used real estate property sector in Japan starting from 2020 for four years. 

※ Please refer to the News from the link here:   https://www.ga-tech.co.jp/news/12103/ on “RENOSY has the No.1 sales performance in the pre-owned real estate property sector in Japan starting from 2020 for three consecutive years.” 

About GA technologies Co., Ltd.

GA technologies group is a tech company driven by the business vision of “Bringing impressment to people & creating a world-leading company by the power of technology and innovation”, in the aim of making changes to a variety of businesses. The group was founded in 2013 and made its debut in the Tokyo Stock Exchange Growth Market (Originally known as the Mothers Market) in 2018. We have been committed to M&A actively and completed 10 M&A projects since 2018. We also achieved a gross sales exceeding 110 billion yen as a fast-growing enterprise. Finally, we have been recognized with the “digital transformation recognition corporation” for three consecutive years, which is the only corporation that has such an honor in the Growth Market.

Company name: GA technologies Co., Ltd.
Representative: Ryo Higuchi
Website link: https://www.ga-tech.co.jp/en/ 
Headquarter: 40F of Sumitomo real estate Roppongi Grand Tower, Roppongi 3-2-1, Minato-Ku, Tokyo
Year of founding: March 2013
Services provided: 

  • Internet real estate marketplace business: RENOSY
  • BtoB PropTech SaaS development

Group partners: GA technologies group: ITANDI, RENOSY PLUS, Shenjumiausuan and 16 other group companies

CONTACT:
Name: Judy Yu
email: y_yu@ga-tech.co.jp
Phone: +81-80-8899-1699