Japan has revamped its Nippon Individual Savings Account (NISA) programme to promote a shift from savings to equities investments. The updated programme reflecting Prime Minister Fumio Kishida’s new capitalist strategy, eliminates the 20-year limit on tax exemptions, effectively making them indefinite. The annual investment ceiling is now raised to JPY3.6m (USD25,006), with a growth investment quota of JPY2.4m. Under the new framework, individuals can accumulate up to JPY18m in their NISA accounts with a permanent tax-exempt status, significantly revising the previous time-bound exemptions. Additionally, the programme now allows investors to reuse investment quotas after selling assets. This overhaul aims to increase Japanese household participation in the stock market, as part of the government’s objective to double the number and value of NISA accounts within five years.