New NISA Simulator (Tsumitate & Growth Investment Quotas)

Enter your monthly Tsumitate (installment) investment and annual Growth investment amounts along with an expected return, and simulate the future tax-free balance under Japan's New NISA lifetime limit — plus how much tax you save compared to a taxable account.

Tips

  • Using only the Tsumitate Quota at its max pace (100,000 JPY/month, 1,200,000 JPY/year) takes 15 years to fill the 18,000,000 JPY lifetime limit. Combining it with the Growth Quota fills the limit faster.
  • Try several expected-return scenarios — both optimistic and conservative — to get a feel for the range of outcomes before committing to a plan.
  • The gap between "NISA balance" and "if held in a taxable account" in this tool is a rough estimate of the tax benefit of using NISA.
  • Unused annual quota (1,200,000 JPY Tsumitate / 2,400,000 JPY Growth) does not carry over to the next year. Investing consistently each year makes the most of your available quota.

FAQ

No. Losses inside a NISA account are treated as if they never occurred for tax purposes, so they cannot be offset against gains in a taxable account, and loss carryforward is not available either.

Yes, they can be used together. You can invest up to 3,600,000 JPY per year in total (1,200,000 JPY Tsumitate + 2,400,000 JPY Growth), within the overall 18,000,000 JPY lifetime limit (up to 12,000,000 JPY of which may be Growth Quota).

The quota equal to the book value (purchase price) of what you sold becomes available again starting the following year. However, the annual contribution limits (1,200,000 / 2,400,000 JPY) are not restored, so you cannot reuse quota within the same year.

Old NISA holdings are tracked separately from the New NISA's 18,000,000 JPY lifetime limit, and remain tax-free until their original tax-free period expires. They cannot be rolled over into the New NISA.
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Side Note — Where the Name "NISA" Comes From, and How the New System Differs

The name NISA (Nippon Individual Savings Account) was coined by prefixing the "N" for Nippon (Japan) onto the UK's Individual Savings Account (ISA) scheme, which has existed there since 1999. Japan launched its own version of the tax-free small investment scheme in 2014, and it has gone through several revisions since.

The New NISA, launched in 2024, made its biggest change by removing the old system's limited holding periods (5 years for General NISA, 20 years for Tsumitate NISA) — the tax-free holding period is now unlimited. Another major change: under the old system you had to choose either General NISA or Tsumitate NISA, but the New NISA lets you use both quotas simultaneously, and the annual Tsumitate limit was tripled from 400,000 JPY to 1,200,000 JPY.

According to Japan's Financial Services Agency, account openings and purchase volumes rose sharply after the New NISA launched, suggesting the policy goal of shifting household savings into investment is gaining some traction. That said, the tax-free benefit does not eliminate the underlying risk of loss — most advisors suggest that steadily investing an amount that matches your personal risk tolerance matters more for long-term wealth building than rushing to fill the lifetime quota.

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