For the first time in 42 years, Japan's native population has fallen below 120 million, according to government statistics.

The number of Japanese fell by 916,000 from a year earlier to 119.736 million, the largest decline since 1968.

At the same time, the number of foreigners living in Japan surpassed 4 million for the first time, bringing the country's total population to 123.7 million.

The record birth rate decline deepens in Japan every year, coupled with an aging population. Local experts say this demographic crisis will pose serious challenges for the country in the future. In particular, those who work today may not receive the same pension benefits as the current elderly do when they retire.

According to forecasts, Japan's population will drop to 100 million by 2053, and 88 million by 2065, with 38 percent of them being over 60.