With slow growth in the labor force, Japan has accumulated capital through aggressive fixed investment since the high growth period, which substantially raised the amount of fixed assets per unit of labor.
In fact, in the incessant pursuit of economic development since the end of the Second World War, Japan has become a capital rich country, even more so than the U.S. We should be proud of the fact that, through such capital accumulation, Japan’s per capita GDP is among the highest in the world.