NISA Tsumitate Simulator (English)

What is NISA Tsumitate

NISA Tsumitate (つみたて投資枠) is the installment investment frame of Japan's Nippon Individual Savings Account — a tax-free investment program run by the Financial Services Agency. Under the New NISA system that launched in January 2024, residents of Japan (including foreigners with a My Number) can invest up to ¥1.2 million per year in eligible low-cost index mutual funds and ETFs, with all capital gains and dividends completely tax-free.

The Tsumitate frame is designed for long-term, dollar-cost-averaged investing. Funds eligible for Tsumitate are pre-vetted by the FSA and limited to broadly diversified, low-fee products — mostly index funds tracking global or developed-market equities. This simulator helps English-speaking residents project how monthly yen contributions compound over decades under realistic return assumptions.

2024 New NISA Rules

The New NISA (新NISA) replaced the old system in January 2024 with far more generous limits. The Tsumitate frame allows ¥1.2 million per year (¥100,000 per month), and the Growth frame (成長投資枠) allows a separate ¥2.4 million per year for individual stocks, ETFs, and actively-managed funds — a combined ¥3.6 million annual limit when both frames are used together. Both frames share a combined lifetime non-taxable holding cap of ¥18 million per person, of which the Growth frame may occupy at most ¥12 million. Unlike the old system, the non-taxable holding period is now indefinite — there is no rollover deadline, and when you sell holdings the used quota is restored the following year at acquisition (book) cost, so it can be reused. Eligibility is any resident of Japan aged 18 or over.

New NISA limits at a glance (FSA)

Figures are the New NISA limits published by Japan's Financial Services Agency (FSA / 金融庁). The lifetime cap counts principal at acquisition cost, not market value; holdings can grow beyond ¥18M and stay tax-free. Holding period is indefinite. Outside a NISA, investment gains in Japan are taxed at roughly 20.315% (15% income tax + 0.315% reconstruction surtax + 5% local tax).

Tsumitate vs Growth Frame

Tsumitate suits beginners and passive investors: automated monthly debits from a bank account, a curated universe of low-fee index funds, and no timing decisions. Growth frame suits investors who want individual Japanese or US stocks, sector ETFs, or higher-risk active funds. Most English-speaking residents start with Tsumitate only — a ¥30,000–¥100,000 monthly auto-debit into an all-country equity index fund through Rakuten Securities or SBI Securities. You can use both frames simultaneously, up to the ¥3.6M combined annual limit and ¥18M lifetime cap.

Tax-Free Until Withdrawal and Beyond

Inside a NISA account, you pay zero tax on dividends, zero tax on capital gains, and zero tax on fund reinvestment. A taxable brokerage account would take roughly 20.315% of your gains. Over 20 years at 5% annual return, a ¥30,000/month investor projects about ¥4.97 million of gains on ¥7.2 million contributed — a taxable account would owe 20.315% on those gains, so NISA keeps roughly ¥1 million more (about ¥1.0–1.3 million depending on whether the tax is modelled as a single exit event or an annual drag). When you withdraw, there is no tax event and no required reporting. Non-permanent residents should confirm their home-country tax treatment, as NISA's tax exemption only covers Japanese tax.

Why Use a NISA Calculator Before You Open an Account

A NISA calculator turns the abstract ¥1.2M/year Tsumitate limit and ¥18M lifetime cap into concrete future numbers you can plan around. Spreadsheets handle compound growth, but they rarely model the New NISA-specific rules — annual cap, lifetime principal cap, and the Tsumitate vs Growth frame split. This simulator applies those constraints automatically, warns when monthly contributions exceed the ¥100,000 cap, and projects year-by-year balance under 3–7% return assumptions. The 2024 New NISA rules and eligible-fund list are maintained by Japan's Financial Services Agency (FSA official NISA portal). For a side-by-side Tsumitate vs Growth frame projection, also try our 2027 NISA Frame Comparison.

Opening a NISA Account as an English Speaker (2026 Broker Steps)

Foreign residents open a Tsumitate NISA at one of two English-friendly online brokers dominant in 2026: Rakuten Securities and SBI Securities. The process takes about 2 weeks:

1. Prep documents: valid My Number card OR notification (通知カード) + zairyū card (residence card), a Japanese phone number, and a Japanese bank account (Shinsei, Sony Bank, or Japan Post all accept foreigners).
2. Open the taxable brokerage account first — SBI/Rakuten will not let you open NISA without the parent account.
3. Add the NISA sub-account — the broker files with the FSA and you cannot open a NISA at another broker in the same calendar year.
4. Pick a low-fee all-country index fund — eMAXIS Slim All Country is the market-share leader. Check its current expense ratio on the fund's latest fact sheet before you buy — these fees are cut periodically, so any figure quoted elsewhere may be stale.
5. Set the auto-debit — ¥30,000 to ¥100,000/month from your linked bank. First contribution processes ~14 business days after account approval.

Non-permanent residents: check the tax residency box carefully. Leaving Japan permanently triggers mandatory NISA account closure — plan your investment horizon accordingly.

Sources

• Financial Services Agency (FSA / 金融庁) — Official NISA site, New NISA overview (limits, indefinite holding period, quota restoration, age): fsa.go.jp/policy/nisa2/about/index.html
• Financial Services Agency (FSA / 金融庁) — NISA portal (eligible funds, program details): fsa.go.jp/policy/nisa2/

Regulated figures on this page were verified against the FSA sources above on 2026-07-10.