Interest plus amortisation of the private non-financial sector as a share of income. The BIS series for Japan runs from 1999 and has never been higher than its first print, 20.0 % in Q1 1999; it stood at 15.5 % in Q1 2026.
Threshold source: worldstat.us construction after Drehmann and Juselius (2012), BIS. How thresholds are chosen
Assumes a standard maturity for all debt.