Japan Retail Investors Ignore Domestic Bull Market to Opt for US

Japan’s retail investors have ignored the equity rally at home and have placed their faith in overseas stocks.

Individuals unloaded a net ¥3.8 trillion ($24.3 billion) of Japanese stocks and related investment trusts through November 2025, the most in more than a decade, according to data from Japan Exchange Group Inc. and the Investment Trusts Association, Japan compiled by Bloomberg. At the same time, the Topix index jumped about 25% last year.