NISA taxes repeated capital gains?!

Considering NISA but retireinjapan seems to say a downside of NISA is recurring capital loss/gains are taxed each time. Say a 100 yen investment drops to 50 then recovers to 100 twice; I’d be taxed on the 50 yen ‘gains’ twice even though I’m back at 100 where I started?!

by usernameagain2

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