NISA: Nippon Individual Saving Accounts

Warm up your engines, eager non-instutional investors, because a new type of tax free trust account is coming to town. That's right, I am talking about the much hyped NISA or Nippon Individual Saving Account (shogaku toshi hi-kazei seido 少額投資非課税制度) that is starting up next year. If you are investing in the future (and you should be!), then this new system is a good opprotunity to get your foot in the investment door. Let's take a look...

Tips when Selling a Car in Japan

I'm in the market for a new set of wheels--to replace my old ones. As I mentioned in my previous post, I've met a lot of people as I've visited a dozen new and used car dealerships to ask about buying something new, and about selling the one I have now. Much of the information differs from what (admittedly little) I knew about buying and selling cars in the US. In today's post, I'll continue to share more of my findings:

Tips when Buying a Car in Japan

I'm in the market for a new set of wheels, and have been to visit just about every new and used dealer in my immediate area, plus a few more across town (and out of town). A lot of the people I've met have been very cool and have shared their tips with me about buying and selling cars in Japan. Much of the information differs from what (admittedly little) I knew about the process in the US. In today's post, I'll share some of my findings:

Shinsei Bank: More Free Convenience Store ATMs

More good news for lovers of Shinsei Bank, one of the few personal banking options in Japan that provides services in English and believes in 24-hour ATM access:

Shinsei bank card holders will now not only be able to deposit and withdraw cash at all Shinsei, Yucho Bank, and 7-11 ATMs across the country, but also at Lawson, Family Mart, and Daily Yamazaki ATMs. (As well as associated ATMs in a few other regional convenience store chains). In other words, Shinsei's already fairly convenient network of ATMs just got even better.

Possible Rising Tolls and Shrinking Highway Discounts

The Japanese highway system is fast, modern, and very well maintained. But if there is one thing it is not it is cheap.

As long term readers may remember, AccessJ has long extolled the virtues of getting your very own ETC (Electronic Toll Collection) card reader and card if only to take part in the hefty toll discounts that they offer. However, thanks to a change in the government's transportation policy, unhappy drivers can look forward to the possibility of even higher toll and less discounts in the future.

Taxes in Japan: What Do They Mean?

I've long wanted to know more specifics about taxation laws in Japan, especially those regarding my income tax. Every year the accounts receivable office downstairs has waved its magic wand and produced a slip of paper and a surprise refund check for whatever excess had been withheld from my last 12 monthly paychecks. Every year they explain to me in patient, simple sentences which number means what on my 源泉徴収 (gensen choushuu). But no matter how many times I hear it, the numbers still seem arbitrary and I don't get a good sense of exactly how much I'm being taxed or how that amount breaks down.

The Japan Federation of Certified Public Tax Accountants' Association has provided some enlightenment on the subject with their wonderful, English language PDF, "Guide to Japanese Taxes 2012".

If you've ever wondered about your own taxes in Japan, I highly recommend checking it out.

Website for Annual Exchange Rates for US Taxes in Japan

The US tax return deadline is coming up for American expats in Japan. Hopefully you've already taken care of it, unlike me. :)

The IRS has a friendly message on its website reminding you to report all amounts on your tax return in USD, not yen. And they even have helpful links at the bottom of the page to the Federal Reserve Bank and Treasury Department websites. But those links just take you to the top of each respective site, which doesn't help me much: Every year as I search for the annual rates on the FRB website, I inevitably get lost in the pages and pages of other rates: daily, weekly, and monthly.

You'd think the IRS would link straight to the annual stuff, since that's probably what most people landing on the redirect page are looking for. But anyway, this year I'm setting myself straight and posting direct links for myself for next year. I hope it can be of use to some other lost souls:

Annual Foreign Exchange Rates from the Federal Reserve Bank
(in FRB lingo, this is Release G5.A)

U.S. Tax Information from the American Embassy in Tokyo, Japan
(includes a simple chart with annual JPY exchange rates for the last four years)

Moving: Light Fixtures for a Japanese Apartment

This post continues my chronicle of moving to a new apartment in Japan. Today I have a big list of things to get done. One of them is finding a new light fixture for my new bedroom.

New 2013 Costco Locations in Japan

Big news for foreign food shoppers, Costco is planning to open three new locations in Japan in 2013:

Nagoya (near the Chubu International Airport), Summer 2013
Hiroshima (near Hiroshima Station), March 2013
Kitakyushu (out in the boonies!), March 2013

These will mark the first Costco stores in the Chubu and Chugoku regions and will bring the total Japan store count to 16.

Happy shopping!

Saving Money in Japan: The Secondhand Shop

Revisiting a topic from the earlier days of AccessJ, one of the biggest money-saving tips we've found when getting settled in the country is the recycle shop (リサイクルショップ).

"Recycle shop" is the trendy, eco-culture term for a pawnbroker (質屋さん, shichiyasan) or secondhand store (中古品店, chuukohinten).

In the intervening decades since Japan's bubble and its Huxleyan buy-new culture, recycle shop franchises have sprung up and flourished around Japan like a nationwide plague of daisies. The first chain I became accustomed with was BOOKOFF, a secondhand dealer specializing in book, CD, movie, and game software. BOOKOFF and its associated stores, including mirthfully named HARDOFF (electronics hardware, musical instruments), are a decent way to save a buck on home entertainment. The chain has other associated stores as well, like OFFHOUSE, which deals in clothing and home interior.

Discount Rail, Concert, and Event Tickets in Japan

Looking to save some money on train tickets, event tickets, department store gift cards, or even postage stamps in Japan? The 金券ショップ (kinken shoppu, "discount ticket shop") might be one of the most overlooked saving tricks among English speakers in Japan.

It's a pawn shop that deals specifically in tickets and gift cards, and its cornerstone items are transit fares--shinkansen, local trains, and long distance buses. Usually located next to major railway stations in cities, this shop is an easy way to save a few bucks whenever you're planning to travel. They are usually tiny storefronts with a single counter and often-handwritten signage you mistake for a travel agency: dozens of destination cities listed up and down the storefront along with the (shinkansen) ticket prices to those cities.

e-Statements: Save Money on NTT Internet

Bills from NTT are the largest (physically, as in size of the document and envelope) piece of monthly utility-related mail I get at home. It seems like a pretty big waste of paper for a billing amount that never changes month-to-month and which I can already and more easily double check by flipping open my bank book.

In fact, for some months I was getting two giant envelopes regularly, as NTT reminded me over and over again that they were switching to a new billing system run by the newly established company NTT Finance. (Further thinning the guise that the NTT telephony monopoly was ever really broken up in Japan...)

So the other day I signed up for NTT e-statements. It's a pretty easy procedure, and it knocks a simple 100 yen off of your monthly bill. Since you're probably roped into a 2-year contract with them anyway, in the long run that's about $30 saved.

To do this, you can still contact a representative at NTT East's @Billing service or NTT West's MyBilling service, but since all the financial transactions of both are handled through NTT Finance now, that's ultimately where you'll end up. So on NTT Finance's site, hit the apply (お申し込み) button and fill in your account information.

Moving: Cancelling Rental Contracts in Japan

This post continues my chronicle of moving to a new apartment in Japan. Last post I signed on the new apartment. The contract will now be sent to my guarantor, and in the meantime I have a lot of other things to take care of:

Week 3, Thursday:
I'm ready to move into the new place, and deadlines are coming up for me to contact my current landlords to cancel the contracts on my old apartment and parking space. I'll take care of the parking space today.

Moving: Paying Rent on a Japanese Apartment

This post continues my chronicle of moving to a new apartment in Japan. Last post we started looking at the contract and other documents you sign before you move in. Today's post covers two more important notices I got from my agency at this stage.

Week 3, Tuesday:
So I've looked at and inkan stamped the two biggies: ① The Contract, and ② The 重要事項説明書. What remains to be clarified is through what means I'll be paying for this apartment month-to-month and the bill from the agency that must be settled before I can move in.

Moving: How Much to Carry My Stuff?

This post continues my chronicle of moving to a new apartment in Japan. Last post I got around a potentially discriminatory second guarantor requirement and now I'm thinking about logistics of the actual move. (OK, it wasn't actually discriminatory.)

Week 3, Sunday (Continued):
In the meantime, I have sent requests to two 引越し会社 (hikkoshi gaisha, moving companies), asking them to provide estimates on cost of moving all my big furniture and appliances to the new place. A representative from one company arranges to meet me that evening.

I point out the items that I'm asking to have moved and the timeframe I'm considering. He calculates for a moment and spits out 31,000 yen. I didn't know what to expect, but it still seemed steep. After all, I'm saying that I'll take care of all the little stuff. I only want them to move big items that I can't handle myself and which can't fit in my car.

Moving: Signing and Making the Down Payment

This post continues my chronicle of moving to a new apartment in Japan. Last post I found some apartments I liked, and now I'm ready to sign on one of them.

Week 2, Friday:
I decide on one apartment and email "Mr. T" (my agent) to make sure it is still available. He responds that it is and again encourages me to hurry up and sign on it before anyone else does!! I tell him I'll be in sometime soon.

Kakeibo: The Japanese Household Account Book

A time honored tradition of housewives across Japan, the kakeibo (家計簿), or "household account book" is as ubiquitous as a television or microwave in many Japanese houses.

While keeping a household expense ledger is by no means unique to Japanese households, the meticulous way in which housewives hang on to and, come pay day, tabulate up every last receipt and bill is quite amazing.

Six Questions About Buying a House in Japan

Many thanks to Ben in Hiroshima for today's post on buying a house in Japan. Ben is a new home owner and shared his buying experience in this exclusive AccessJ interview.

So you've got a job, a car, maybe you're even married, and you're thinking about taking another step forward in planting your roots in Japan: Buying a house to live in. House shopping will open up all kinds of questions: Do you want a マンション atop a 45-floor building or your own (perhaps tiny) plot of land to call home? What's your budget? Who will be living in the home? What silly neighborhood watch programs and trash disposal schedules are you willing to put up with?

The list goes on. But today, we'll start with some of the important financial questions. Grab your reading glasses and check out the interview below:

Counterfeit "Won" in Place of Yen

Here is the exciting conclusion to our article about why vending machines in Japan have little stickers on them telling you that your old 500 yen coins aren't welcome for use:

This is a 500 won coin that has been altered by a counterfeiter. The divots you see in the face of the coin are from a power drill, available at any home center, or more probably--considering the number of altered coins that were produced in the late 90's--a drill press, standard equipment in a machinist's shop.

Why Vending Machines Don't Accept Old 500 Yen Coins

You have probably seen this sticker or some variant of it--though you may not have properly noticed it or read what it said--on a vending machine in Japan. It is almost ubiquitous these days.

It tells you that the vending machine will accept new 500 yen coins, but not old ones. That's because old 500 coins were susceptible to easy counterfeiting, especially in vending machines.

Today, as a follow-up to Dom's wonderful guide to Japanese coins, let's learn a bit about the history of counterfeit 500 yen coins in Japan.