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Japanese parents cool to tax-savings accounts for kids

Parents are balking at restrictions on Japan's new junior NISA tax-savings accounts.

TOKYO -- Restrictions and requirements are discouraging parents in Japan from setting up tax-exempt investment accounts for their underage children.

Just 41,707 so-called junior NISA accounts were open at 10 major brokerages as of April 30, one month after the program's launch, data released Monday by the Japan Securities Dealers Association showed.

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