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NISA tax-advantaged investment tops 1 tril. yen by end of March

June 23, 2014

Individual investors had invested around 1,003.4 billion yen by the end of March through new tax-advantaged investment accounts created in January, the Financial Services Agency said Monday.

Investment in the Nippon Individual Savings Accounts, or NISA, by people aged 60 or older accounted for around 65 percent of the total, the agency said in its first survey on the investment scheme since the January launch.

Capital gains and dividends on up to 1 million yen a year invested in stocks or other financial instruments through the accounts are tax exempt for five years.

The survey covered all 686 banks, securities firms, credit cooperatives and other financial institutions offering the NISA service.

The number of accounts totaled 6,503,951 as of the end of March. The National Tax Agency has said the number of accounts stood at 4,747,923 on Jan. 1.

Of the total accounts, 59.8 percent were opened by people aged 60 or older.

Of the money invested through the accounts, 621.2 billion yen were put in investment trusts and 364.5 billion yen were in listed shares.

The agency said it wants to increase the number of NISA holders among people in their 20s to 40s.

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Source: Japan Economic Newswire

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