1. Figure 1. Trends in number of births and TFR: Japan, 1947-2007 Source: Ministry of Health, Labour and Welfare, Vital Statistics, various years. 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 1947195219571962196719721977198219871992199720022007 0.0 0.5 1.0 1.5 2.0 2.5 3.0 BirthsTFR Births （ millions ） Year

2. Figure2. Real GDP growth rate and total fertility rate: Japan, 1947-2007 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 1947195219571962196719721977198219871992199720022007 Year TFR -5 -3 1 3 5 7 9 11 13 15 Growth rate (%) TFRGDP growth rate High economic growth Vogel’s “Japan as No. 1” published Bursting of the bubble economy “Lost Decade” Korean war

3. Figure 3. Labor force participation rates for men and women aged 65 and over in selected countries, 2007 Source: ILO, 2008, Yearbook of Labour Statistics 2008. 0 5 10 15 20 25 30 35 FranceGermanyAustriaUnited StatesJapan Men Women (%)

4. 0 1 2 3 4 5 6 051015202530354045505560657075808590+ Age Million yen (measured in 2000 constant prices) Figure 4. Age-specific profiles of per capita consumption and production: Japan, 1984-2004 Labor income 2004 Labor income 1999 Labor income 1994 Labor income 1989 Labor income 1984 Consumption 2004 Consumption 1999 Consumption 1994 Consumption 1989 Consumption 1984

5. Figure 5. Average age-specific profiles of per capita yearly consumption and production, 1984-2004 0 1 2 3 4 5 6 051015202530354045505560657075808590+ Age Million yen Consumption Production

6. Figure 6. First demographic dividend in Japan, 1920-2025

7. (%) Source: National Institute of Population and Social Security Research, 2008, Social Security Benefits for Fiscal Year 2006, http://www.ipss.go.jp/.http://www.ipss.go.jp/ Year 0 5 10 15 20 25 30 195119561961196619711976198119861991199620012006 Pension Medical care other expenditures Welfare and Figure 7. Social security costs by category (as a percentage of national income), 1951-2006, Japan

8. 0 5 10 15 20 25 30 35 40 45 198119861990199620012005 Figure 8. International comparison of the proportion of the elderly persons aged 65 and over living in three-generation households: selected countries, 1981-2005 Source: Cabinet Office, International Survey of Lifestyles and Attitudes of the Elderly, various years. Year Japan France USA Germany (%)

9. Panel A: 1984 Figure 9. Changing pattern of three components of per capita reallocation of lifecycle deficits in Japan

10. Panel B: 1994 Figure 9. Changing pattern of three components of per capita reallocation of lifecycle deficits in Japan

11. Panel C: 2004 Figure 9. Changing pattern of three components of per capita reallocation of lifecycle deficits in Japan

12. Figure 10. Per capita net public pension transfers, Japan -0.5 0.0 0.5 1.0 1.5 2.0 0102030405060708090+ Million yen (2000 constant prices) 1984 1989 1994 1999 2004 Age

13. Figure 11. Per capita net intra-household transfers in 2004, by age

14. Year Total population (1000 persons)0-14(%)65+(%)Total Fertility RateTotal Dependency Ratio 75+/65+(%) Women 40-59/65-84 19508320035.44.93.6567.525.71.82 19558927633.45.32.3763.129.21.81 19609341933.05.72.0060.430.41.80 19659827525.66.32.1446.830.31.77 197010372023.97.12.1344.930.21.69 197511194024.37.91.9147.632.01.60 198011706023.59.11.7548.434.41.48 198512104921.510.31.7646.737.81.40 199012361118.212.11.5443.540.11.30 199512557016.014.61.4250.439.31.10 200012692614.617.41.3646.940.90.91 200512744913.820.21.2550.645.10.77 201012701313.023.01.2455.648.00.65 201512560312.126.91.2463.248.40.59 202012323511.029.51.2467.652.10.57 202512009410.231.01.2870.060.00.56 Sources: Statistics Bureau, Population Census, various year. Nihon University Population Research Institute Population Projection, 2003 Table 1. Population change in Japan: 1950-2025

15. Table 2. Income sources for the elderly aged 65 and older in Japan: 1981,1986, 1990, 1996, 2001, and 2005 (%) Source: Cabinet Office, International Survey of Lifestyles and Attitudes of the Elderly, various years.

16. Year Young age Net consumer to net producer Old age Net producer to net consumer 19842764 19892865 19942971 19993074 20043077 Table 3. Change in crossing ages in per capita net familial transfers in Japan, 1984-2004

17. Year Young age Net consumer to net producer Old age Net producer to net consumer 19842260 19892260 19942261 19992261 20042262 Table 4. Change in crossing ages in per capita net public transfers in Japan, 1984-2004