NISA, or the Nippon Individual Savings Account, is a Japanese government tax-free stock investment programme for individuals which is set for a big overhaul in January. NISA aims to turn the trillions of yen held in cash by households into investments in stock markets. Prime Minister Fumio Kishida has for months flagged this makeover of NISA as part of his "new capitalism" scheme to boost household wealth and asset holdings by helping households invest in riskier assets such as stocks.