#Japan #Tokyo #Monex Securities #Japan Stocks #IPO Interest

Overview of the MONEX Investor Survey June 2026

Between June 12 and June 16, 2026, Monex Securities conducted a survey among their account holders regarding their perspectives on the stock market, focusing on recent trends in Japan's market and the interest in Initial Public Offerings (IPOs).

Highlights of the Survey

• - Strong Bullish Sentiment: A notable percentage of investors continue to express optimism towards the Japanese stock market, mainly due to the impressive rise of the Nikkei index.
• - Growing Interest in IPOs: As several large companies plan to go public, a rising number of investors are intrigued by the potential opportunities presented by IPO investments.
• - Insights on Dollar-Yen Exchange Rates: Over 40% of survey participants expect a depreciation of the Yen against the Dollar in the coming months.

A. Investors' Outlook on the Nikkei's Rise

Significant gains in the Nikkei index were recorded, leading Monex to explore the sentiment of individual investors regarding their expectations for the market's future.

(A-1) Optimism About the Nikkei's Potential

The survey indicated that more than half of respondents believe there is still room for the Nikkei to rise further. Those who responded that the current Nikkei level still has significant growth potential or is slightly above its optimal value combined accounted for over 50%, showcasing a robust bullish sentiment among individual investors. These optimistic views were propelled by encouraging company earnings and investments particularly focused in the semiconductor sector.

However, around 40% of participants expressed concerns about the market being overpriced, indicating a cautious approach taken by some investors despite overall optimism. While half of the participants anticipate further growth, a considerable faction remains wary of potential market overheating.

(A-2) Cautious Approach Towards New Equity Investments

When asked about their intentions to invest additional funds into stocks, almost 46% indicated they are either planning to invest soon or have recently increased their positions. Conversely, around 54% are adopting a more cautious strategy, preferring to wait and monitor market trends before making commitments. Reasons cited included indecision over future market trends and a desire to seize opportunities when prices dip.

(A-3) Positive Trends in Financial Assets

On the financial asset front, more than 63% of investors reported an increase in their holdings compared to the beginning of the year, amidst a backdrop of sustained market strength. Whatever the challenges faced, such as a lack of growth among some sectors, it's apparent that investor sentiment remains resilient as they navigate their portfolios.

This appetite for investment remains strong, with most participants echoing a preference for maintaining or even increasing their current investment strategies amidst favorable conditions.

(A-4) Profit Taking and Future Market Engagement

Regarding profits, a large number of investors seem unconvinced about cashing out despite the rising values; nearly 44% are not contemplating profit-taking, while only 36.99% consider it on a limited basis. Many hope to hold out for further growth unless market dynamics shift against them significantly, aiming to balance their decision-making against observed risks and returns.

B. Growing Interest in IPOs

With major IPOs looming on the horizon for 2026, this survey also sought participants' sentiments on upcoming initial public offerings.

(B-1) Interest Levels in Upcoming IPOs

Interestingly, over 50% of participants expressed varying degrees of interest in IPO investments. Responses highlighted a majority favoring long-term growth expectations, indicating that many view IPOs as opportunities rather than short-term speculative plays.

(B-2) Domestic vs. International IPOs

Another key finding notes that interest in Japanese IPOs is particularly robust, with most individuals leaning towards actively investing whenever compelling options appear. Comparatively, interest in foreign IPOs stands at 37.61%, indicating that despite the greater number of domestic IPOs, there is a growing curiosity regarding international markets.

C. Utilization of NISA Accounts

(C-1) Dual Usage of NISA Investment Accounts

The survey also assessed the use of NISA accounts, revealing that nearly 70% of investors are leveraging both growth and installment investment accounts, which further underscores the commitment to long-term planning.

(C-2) Continued Long-term Strategies

A significant proportion believes in holding onto their investments for extended periods, supporting the notion that even in a bullish market, many aim for strategic growth over immediate profits.

D. Future Expectations for Stock Markets in Japan, the U.S., and China

(D-1) Market Outlook and Current Indices

Investors foresee an optimistic trajectory for the U.S., with their bullish outlook exceeding that of Japan per the DI (Diffusion Index) analysis. For instance, while the Japan Stock Market DI rose to 42, the U.S. shot up to 43, indicating unprecedented confidence.

E. Sector-Wise Growth Expectations

Expectations for sectors in Japan and the U.S. were examined, revealing a promising landscape particularly for banking and technology sectors amidst growth predictions for key industries.

F. Currency Exchange Expectations

Investors showed a clear preference towards expecting a weaker Yen against the Dollar, with perceptions indicating that 44% believe a depreciation is likely in the short term.

This survey sheds light on the resilience and optimism of individual investors in Japan’s securities market as they navigate through complex macroeconomic factors and market opportunities.