Japan’s Financial Services Agency revised its "Q&A on Financial Instruments and Exchange Business, etc." on August 27, stating that securities firms selling overseas-established single-stock leveraged ETFs tied to Japanese equities would be acting in a way that is not appropriate from a public-interest perspective. Japan currently does not permit the listing of single-stock leveraged ETFs, but overseas-approved products could potentially have been offered to domestic investors through Japanese securities firms as investment trusts. The FSA said such products could amplify volatility in the underlying shares and significantly affect price formation. While the position is not a direct statutory ban, its publication in an official Q&A has made financial institutions reluctant to handle the products. South Korea’s experience, where leveraged ETFs based on Samsung Electronics and SK Hynix saw repeated price surges and falls after listing last May, was cited as a reference; Korean authorities later raised deposit requirements and temporarily halted new listings.