---
title: "NISA 2024 flow"
aliases:
  - "securities/nisa-2024-flow"
  - "nisa-2024-flow"
  - "New NISA 2024"
  - "新NISA"
domain: "securities"
created: 2026-05-19
last_updated: 2026-07-30
last_tended: 2026-07-30
review_by: 2026-11-15
confidence: likely
tags: [securities, NISA, household-investment, FSA, brokerage]
status: active
sources:
  - "https://www.fsa.go.jp/policy/nisa2/about/nisa2024/"
  - "https://www.fsa.go.jp/policy/nisa2/about/nisa2024/guidebook_202307.pdf"
  - "https://www.jsda.or.jp/shijyo/seido/tax/2024nisaqa.html"
  - "https://global.rakuten.com/corp/news/press/2024/0416_01.html"
---

# NISA 2024 flow


## Wiki route

This entry sits under [[securities/INDEX|securities index]]. Read it against [[securities/japan-securities-clearing-corp|日本証券クリアリング機構 (JSCC)]] for peer / contrast context and [[securities/financial-instruments-business-operators-japan-index|financial instruments business operators japan index]] for the broader system / regulatory boundary.

## TL;DR

The 2024 NISA reform turned Japan's household tax-free investment account into a permanent asset-building regime. FSA's NISA site says the new system started in January 2024 and became permanent. The official guidebook frames two usable buckets: a tsumitate investment quota and a growth investment quota, with combined annual investment capacity of 3.6 million yen and lifetime tax-free holding capacity of 18 million yen.

For FinWiki, NISA is a securities-distribution and household-asset-flow page. It connects retail brokers such as [[securities-firms/rakuten-securities]], comprehensive securities firms such as [[securities-firms/nomura-hd]], and bank-affiliated securities arms such as [[securities-firms/mizuho-securities]] and [[securities-firms/mufg-mums]].

## System Map

The following table is scoped to public primary sources (fsa.go.jp, jsda.or.jp, global.rakuten.com). It restates licence / structure / product boundaries from those materials and does not invent market share, ranking, or unstated numerical claims. ^[source:fsa.go.jp; jsda.or.jp; global.rakuten.com]

| Layer | 2024 NISA reading |
|---|---|
| Policy objective | Shift household financial assets toward long-term asset formation. |
| Account layer | One NISA account per eligible person through a financial institution. |
| Product layer | Tsumitate quota for long-term diversified investment trusts; growth quota for listed shares / investment trusts with exclusions. |
| Tax layer | Tax-free holding period is indefinite under the new regime. |
| Distribution layer | Securities firms, banks, and online brokers compete for account opening, recurring investment, and asset retention. |

## Key Parameters

The following table is scoped to public primary sources (fsa.go.jp, jsda.or.jp, global.rakuten.com). It restates licence / structure / product boundaries from those materials and does not invent market share, ranking, or unstated numerical claims. ^[source:fsa.go.jp; jsda.or.jp; global.rakuten.com]

| Item | New NISA reading |
|---|---:|
| Annual tsumitate quota | 1.2 million yen |
| Annual growth quota | 2.4 million yen |
| Combined annual quota | 3.6 million yen |
| Lifetime tax-free holding limit | 18 million yen, book-cost basis |
| Growth quota sublimit | 12 million yen inside the lifetime limit |
| Tax-free holding period | Indefinite |
| System term | Permanent |

## JapanFG Relevance

- [[securities-firms/rakuten-securities]]: online brokerage / ecosystem acquisition case.
- [[securities-firms/nomura-hd]] and [[securities-firms/daiwa-sg]]: full-service securities and wealth-management response.
- [[securities-firms/mizuho-securities]], [[securities-firms/mufg-mums]], and [[securities-firms/smbc-nikko]]: bank-affiliated securities distribution and group wealth strategy.
- [[financial-regulators/jsda]]: self-regulatory / industry Q&A route.
- [[loyalty/japan-points-landscape]]: point programs can function as household-investment acquisition rails.

## Decision Use

Use this page when asking:

- which brokerage has the strongest retail acquisition funnel;
- how NISA changes household asset flows from deposits to investment trusts / stocks;
- whether points, card accumulation, and zero-fee trading are customer subsidies or durable distribution advantages;
- how bank-affiliated securities firms defend wealth clients against online brokers.

## Related

- [[securities/INDEX|securities INDEX]]
- [[securities-firms/rakuten-securities]]
- [[securities-firms/nomura-hd]]
- [[securities-firms/daiwa-sg]]
- [[securities-firms/mizuho-securities]]
- [[securities-firms/mufg-mums]]
- [[securities-firms/smbc-nikko]]
- [[financial-regulators/jsda]]
- [[loyalty/japan-points-landscape]]
- [[financial-licenses/INDEX]]
- [[INDEX|FinWiki index]]

## Sources

- FSA: NISA 2024 special site.
- FSA: 2024 NISA guidebook.
- JSDA: Q&A on NISA from 2024.
- Rakuten Securities: April 2024 account milestone release, used as a distribution example.