New NISA Calculator
Project your new NISA tax-free growth in seconds. Combines tsumitate (¥1.2M/yr) + growth (¥2.4M/yr) within the ¥18M lifetime cap. See the compound effect of maxing out ¥3.6M/year for 5, 10, 20 years — plus how to pace contributions to avoid hitting the cap early.
NISA Plan
NISA Projection
Ending Balance
¥23,217,555
Total Contributed
¥12,000,000
Tax-Free Growth
¥11,217,555
Tax Saved vs Taxable
¥2,278,846
Annual Cap
¥1,200,000
Lifetime Cap
¥18,000,000
For estimation only. Not professional financial, tax, or legal advice. Consult a qualified advisor before making decisions. Full disclaimer.
What is NISA and why should you care?
NISA (Nippon Individual Savings Account) is a tax-free investment account offered by the Japanese government. Any profit you make inside it pays zero tax. Outside NISA, profits on shares and funds are taxed at 20.315%.
Here is the difference in numbers. You invest ¥5 million and it grows into ¥15 million. Outside NISA, you owe about ¥2 million in tax. Inside NISA, you keep all ¥10 million of gains.
The new NISA rules since January 2024
The government rebuilt NISA in 2024. The account is now permanent. You can keep money in it for life.
You can add up to ¥3.6 million per year. That splits into two pots: ¥1.2 million in the Tsumitate pot and ¥2.4 million in the Growth pot. The total you can ever hold inside is ¥18 million.
One big new feature: if you sell a holding, that room opens up again next year. Under the old NISA, sold room was gone forever.
Tsumitate pot vs Growth pot
The Tsumitate pot only accepts cheap index funds the government has pre-approved. It is built for steady monthly buying and long-term holding. Think of it as the "safe and simple" pot.
The Growth pot is wider. It lets you buy individual shares, Japanese REITs (property funds), and actively managed funds. Most people fill the Tsumitate pot first, then use Growth for anything extra.
Simple low-fee funds to start with
These three funds cost almost nothing each year:
- eMAXIS Slim All-Country — fee 0.05% per year, tracks the whole world
- eMAXIS Slim S&P 500 — fee 0.08%, tracks the 500 biggest US firms
- SBI V series — similar low costs, tracks major indexes
Over 30 years, what matters most is staying invested and paying in every month. The fund you pick matters less than the tax shield you use.
What comes next
Once you use your NISA room, look at iDeCo (a second tax-free pension account) for even more tax help. Most people in Japan can use both. If you also want to cut your take-home tax bill now, check the furusato nōzei calculator.
Common questions about NISA
What changed with the new NISA in 2024?+
Since January 2024: permanent (no expiry), ¥3.6M combined annual cap (¥1.2M tsumitate + ¥2.4M growth), ¥18M lifetime cap (of which max ¥12M for growth). Both quotas can be used simultaneously, and sold positions free up the cap — a huge upgrade over the old tsumitate/ippan system.
Tsumitate vs Growth quota — which do I use?+
Tsumitate = monthly auto-invest into FSA-approved low-fee index funds/ETFs (eMAXIS Slim, SBI V series). ¥1.2M/yr. Growth = lump sum or regular into a wider universe including individual stocks, REITs, and actively managed funds. ¥2.4M/yr. Most people should max tsumitate first, then use growth for extra capacity.
What funds are best inside a NISA?+
For tsumitate: eMAXIS Slim All-Country (0.05% fee), eMAXIS Slim S&P 500 (0.08%), or SBI V S&P 500. All trust fees below 0.1%, tracking major global indices. Keep it simple — the tax-free wrapper matters more than fund selection over 20+ years.
What happens to gains outside NISA?+
Taxed at a flat 20.315% (15% national + 5% resident + 0.315% reconstruction) on capital gains and dividends. A ¥1M gain outside NISA = ¥203,150 in tax. The same ¥1M gain inside NISA = zero tax. Over 20+ years of compounding, the NISA wrapper saves hundreds of thousands of yen.
Can I have NISA and iDeCo at the same time?+
Yes — they are complementary. iDeCo: upfront tax deduction on contribution, locked until 60, up to ¥23-68k/month depending on employment. NISA: no upfront deduction, fully liquid, larger annual cap. Max iDeCo for the tax deduction, then direct remaining savings into NISA.
How do I open a NISA account and switch providers?+
Each tax year you can hold only ONE NISA account across all providers. Open via SBI Securities, Rakuten Securities, Monex, or Matsui — free of fees and with the widest fund selection. Foreigners need a My Number Card and residence card. Application takes 2-3 weeks; first contribution available from the year of approval. To switch provider for the next tax year, submit the transfer form by October 1 — contributions paid in the current year stay at the old provider but retain their tax-free status.