What the expansion of the Nisa now has the power to do, though, is ensure this bull market is sustainable rather than fleeting.
As more Japanese individuals invest, and as they allocate more of their savings to Japanese stocks with their scepticism of the domestic market falling away, a powerful new source of inflows could emerge.
As Alliance Bernstein put it recently, even a 2 per cent reallocation of assets among these savers could produce $150bn (£118bn) of inflows into equities.
That is a market moving amount, and it would very much be keeping with Kishida’s goal of getting more people investing in a way that benefits the Japanese economy.
In summary, Japan’s significant expansion of the scope of the Nisa has potentially far-reaching, positive implications that can benefit any investor in the country.
The products are already helping to foster a growing culture of investing across a country famed for its risk-averse mindset.
As Japan’s economic strength and corporate reform increasingly win over this growing pool of new investors, the flows unlocked could have a powerful, positive impact on the Nikkei’s long-term performance.
For early movers, this growth could provide strong portfolio returns.
Richard Aston is portfolio manager of the Chikara Japan Income & Growth Fund and the CC Japan Income & Growth Trust PLC
