The monetary base in Japan was down 1.1 percent on year in May, the Bank of Japan said on Friday - coming in at 672.732 trillion yen.
That beat expectations for a decline of 1.4 percent following the upwardly revised 1.7 percent contraction in April (originally -1.9 percent).
Banknotes in circulation was up 1.3 percent on year, while coins in circulation fell an annual 3.1 percent.
Current account balances dropped 1.6 percent on year, including a 2.1 percent fall in reserve balances.
The adjusted monetary base was down 0.7 percent.
