---
source: Ministry of Finance, Japan
url: https://www.mof.go.jp/english/policy/international_policy/reference/itn_transactions_in_securities/week.pdf
document_type: pdf
date_retrieved: 2026-03-19
period: March 8-14, 2026
parent_publication: International Transactions in Securities (Weekly)
indicators_covered: [Foreign Stock Investment, Foreign Bond Investment]
---

# International Transactions in Securities (Weekly) — March 8–14, 2026

**Ministry of Finance, Japan**  
**Release Date: March 19, 2026**

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## Executive Summary

Foreign investors executed significant net sales of Japanese equities during the week of March 8–14, 2026, amid geopolitical tensions. Japanese residents also reduced their exposure to foreign long-term debt securities. These outflows marked a sharp reversal from the previous week's positive sentiment.

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## 1. Portfolio Investment Assets (Japanese Residents' Foreign Securities Transactions)

Japanese residents' net acquisition of foreign securities showed mixed results during the week of March 8–14, 2026:

| Security Type | Acquisition (¥100M) | Disposition (¥100M) | Net (¥100M) |
|---|---|---|---|
| **Equity and Investment Fund Shares** | 39,293 | 29,786 | **9,507** |
| **Long-term Debt Securities** | 92,161 | 102,081 | **-9,920** |
| **Short-term Debt Securities** | 9,582 | 12,211 | **-2,629** |
| **Total** | 141,036 | 144,078 | **-3,042** |

Japanese residents **purchased ¥950.7 billion in foreign equities** while **reducing foreign long-term debt securities by ¥992 billion**, reflecting a rotation toward equities and a defensive reduction in foreign bond exposure. The net outflow in long-term debt securities (-9,920 in ¥100M units) corresponds to the reported Foreign Bond Investment data.

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## 2. Portfolio Investment Liabilities (Foreign Investors' Japanese Securities Transactions)

Foreign investors' net acquisition of Japanese securities reveals significant outflows during the same period:

| Security Type | Acquisition (¥100M) | Disposition (¥100M) | Net (¥100M) |
|---|---|---|---|
| **Equity and Investment Fund Shares** | 366,965 | 384,691 | **-17,726** |
| **Long-term Debt Securities** | 65,483 | 53,541 | **11,941** |
| **Short-term Debt Securities** | 57,593 | 67,118 | **-9,526** |
| **Total** | 489,041 | 505,350 | **-15,310** |

**Foreign investors sold ¥1,772.6 billion in Japanese stocks** (net disposition), marking a sharp reversal from net purchases of ¥385.5 billion the previous week. The scale of the equity outflow was the largest single-week sale since September 13, 2025, driven by geopolitical tensions over Iran.

Long-term Japanese debt securities remained attractive to foreign investors, who accumulated net ¥1,194.1 billion during the period, reflecting a flight to fixed income amid elevated risk sentiment.

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## 3. Period-over-Period Comparison

| Period | Foreign Stock Investment (Net, ¥100M) | Japanese Foreign Bond Investment (Net, ¥100M) |
|---|---|---|
| March 1–7, 2026 | 3,855 | 4,025 |
| March 8–14, 2026 | **-17,726** | **-9,920** |
| **Change** | **-21,581** | **-13,945** |

The reversal in both indicators was dramatic, with foreign stock inflows turning to net outflows of ¥1,772.6 billion, and Japanese residents similarly reducing their foreign bond holdings by ¥992 billion.

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## 4. Designated Major Investors

The data presented in this bulletin is compiled from reports by Japan's designated major investors, as defined under the Ministerial Ordinance Concerning Report on Foreign Exchange Transactions:

- Banks and financial institutions
- Securities firms and investment advisors
- Insurance companies
- Investment trust management companies
- Asset management companies

These entities represent the primary channels for cross-border securities transactions in Japan's international investment flows.

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## 5. Methodology Notes

1. **Unit**: All figures are in ¥100 million (read as billions when appropriate: -17,726 = -1,772.6 billion yen).

2. **Sign Convention**: 
   - **Plus (+)**: Net acquisitions (purchases exceed sales)
   - **Minus (−)**: Net dispositions (sales exceed purchases)

3. **Classification**: Following the January 2005 revision of balance of payments statistics, portfolio investments are classified based on the **residence of the security issuer**, not the denomination of the security.

4. **Coverage**: The data excludes Bank of Japan holdings and transactions not routed through designated major investors.

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## 6. Key Takeaways

- **Foreign stock outflows of ¥1,772.6 billion** represent the largest single-week disposal since mid-September 2025.
- **Japanese reduction in foreign long-term debt of ¥992 billion** signals a defensive posture toward external fixed income.
- The combination of foreign equity sales and Japanese bond reductions suggests heightened risk aversion and portfolio rebalancing in response to geopolitical developments.
- Long-term Japanese debt securities remain a relative safe haven, with foreign investors accumulating ¥1,194.1 billion during the turbulent week.

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**Source**: Ministry of Finance, International Finance Bureau, Foreign Exchange Market Division, Balance of Payments Section 2

**Contact**: Ministry of Finance, Foreign Exchange Market Division  
Tel: +81-3-3581-4111 (ext. 4925, 5412)