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No. of new small-lot, tax-free investment accounts comes to 5 mil.

January 15, 2014

TOKYO , Jan. 15 -- ( Kyodo ) _ The number of accounts opened by individual investors since last October to benefit from Japan's new small-lot, tax-free investment privilege has reached about 5 million, the head of the stock brokering industry said Wednesday. The account, the Japanese equivalent of Britain's Individual Savings Account, kicked off on Jan. 1 with brokerage houses and banks accepting applications from Oct. 1 . "We would like to do our utmost to promote and disseminate the NISA (Nippon Individual Savings Account)," Japan Securities Dealers Association Chairman Kazutoshi Inano said. The association has decided to designate Feb. 13 as "NISA Day" to intensify its public relations efforts to promote the advantageous investment scheme. As of Jan. 1 , the number of NISAs opened at brokerages stood at 3.2 million, while that at banks appears to be well over 1 million, according to the association.


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Source: Japan Economic Newswire


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