"Nation in Turmoil, News Made Me Decide"...A Man Donates 5.3 Billion Won in Gold Bars with One Request

Anonymous man donates 21 kg of gold to Osaka City Waterworks Bureau
"Please use it for measures to deal with aging water pipes"

A man in Japan anonymously donated 21 kilograms of gold bars to the Osaka City Waterworks Bureau, asking that they be used for measures to deal with aging water pipes, drawing public attention.

On the 19th, according to the Yomiuri Shimbun and other Japanese media, Osaka City announced that it had received a donation of 21 kilograms of gold bars from an anonymous donor that day. As of that day, the gold was worth about 566 million yen (approximately 5.3 billion won) at market prices. The donor is said to have expressed the wish that the gold bars be used for measures to address the aging of water pipes. The intention to donate was conveyed in November last year. At that time, the donor reportedly decided to make the donation after seeing news reports about a series of leakage accidents caused by damaged water pipes across Japan.

gold bar

The Osaka City Waterworks Bureau described this donation as an amount it had "never experienced before in the past" for a donation related to waterworks projects. In line with the donor's wishes, the gold bars will be used to cover the costs of replacing water pipes. The appraised value of the donated gold bars corresponds to the amount needed to replace about 2 kilometers of standard water pipes. At a press conference, Osaka Mayor Hideyuki Yokoyama said, "It is such an enormous amount that I am at a loss for words," adding, "Measures to address aging water pipes require major investment. We are simply grateful."

Japan is facing a serious nationwide problem of aging water pipes. In January last year, a road collapsed in Yashio, Saitama Prefecture, due to damage to a sewage pipe. Osaka City, which installed most of its water pipes during the period of rapid economic growth in the past, is also suffering from aging infrastructure. According to the city’s Waterworks Bureau, there were 92 leakage accidents occurring just under roads in fiscal year 2024.

Meanwhile, according to Bloomberg data on the same day, the spot price of gold in afternoon trading in Singapore rose 0.8%, climbing to around 5,017 dollars per ounce. Gold prices had exceeded 5,500 dollars earlier this month, hitting an all-time high, before undergoing a correction as investors took profits. However, as investors who view the recent price decline as a buying opportunity have entered the market, the price has resumed an upward trend.