The number of tax-sheltering Nippon Individual Savings Accounts (NISA), including applications, is expected to reach 8.15 million by the end of 2014, the Nomura Research Institute said in a recent survey.
There were 6.5 million NISA accounts at the end of March 2014, according to the survey released Tuesday by the Financial Services Agency.
Investment through NISA is estimated to reach ¥5.3 trillion by the end of the year, said Nomura’s fifth survey on the use of the NISA tax-free small-lot investment promotion program.
The expected investment amount per person is ¥650,000. Of the estimated 8.15 million account holders, 4.18 million people, about half of the total, are expected to invest ¥1 million, the NISA tax-free limit, the survey said.
On the other hand, 1.48 million people, or 18 percent of the total, will not make investments at all despite opening accounts, it said.
Most NISA accounts are opened at brick-and-mortar securities firms, but the number of NISA accounts opened at banks other than Internet-only banks is expected to increase. This figure could top that of NISA accounts held at brick-and-mortar brokerage firms by the end of the year, the survey said.
The survey was conducted online in late June on 7,000 people aged 20 to 79.