This study examined further investment in Japanese language learning from the perspective of Indonesian learners of Japanese through their study abroad experience in Japan. Employing a model of investment proposed by Darvin and Norton, the study analyzed learners' oral and written narratives, focusing on three key constructs, namely identity, ideology, and capital. Data analysis revealed that study abroad to Japan has become a symbolic capital, as well as a way for learners to gain benefits related to some aspects of their linguistic capital they were not able to acquire when studying Japanese in their home country. Study abroad in Japan also offered a new possibility for Japanese learners to get closer to their imagined identity they wish to realize in their imagined communities related to Japanese language. This study revealed how different ideologies have shaped Japanese language institutional practices and educational policies and how these have impacted on language learners as they position themselves within the contexts. It posed critical view on Japanese language education policy and planning with its double-edged ideologies which have created constraint and opportunity for learners. The study indicates the importance to rethink Japanese language education planning and policy from the perspective of language learners' investment on Japanese learning, in the era of globalization where student mobility across borders and boundaries is prevalent.