Japan retail investors dump ¥3.8tn in local stocks by Nov 2025 as funds shift abroad
As of January 5, 2026, data show Japanese retail investors exited ¥3.8 trillion of domestic equities through November 2025 while steering a near-record ¥9.4 trillion into overseas stock funds. The Topix advanced about 25% in 2025, yet flows favored US markets amid a weaker yen and policy shifts.