In feudal society, the state was the private property of the emperor.
If strictly distinguished, Ouchi (Palace), Neiku, Bieyuan (Palace), Royal Hunting Ground and Royal Grange all belong to the private property of the emperor.
The national treasury is managed by the Ministry of Housing and does not belong to the private property of the Emperor.
The emperor's private property is underwear, which is managed by the Ministry of Internal Affairs.