From The Japan Times · Kentaro Tsutsumi · · 1m 10s
Topix Overhaul Cuts Hundreds of Japanese Stocks
Japan Exchange Group removes 683 stocks from Topix benchmark to boost market appeal.
In brief
Japan Exchange Group removes 683 stocks from Topix benchmark to boost market appeal. Japan Exchange Group will remove 683 stocks from its Topix benchmark starting October 30 to improve market appeal for investors. Originally reported by The Japan Times.
Japan Exchange Group Unveils Topix Revamp
Japan Exchange Group (JPX) unveiled the biggest-ever reshuffle of the Topix on Wednesday, a revamp that shrinks one of Asia’s broadest major equity benchmarks.
683 Companies Earmarked for Removal
There were 683 companies earmarked for removal under tougher inclusion rules, according to JPX’s announcement.
Gradual Removal Includes Medley and Ichiyoshi
Those slated for gradual removal include Medley and Ichiyoshi Securities Co.
35 Stocks Added to Topix
Among the 35 stocks that will be added are McDonald’s Holdings Co. Japan and Ferrotec.
Changes Effective October 30
The changes will begin to take effect on Oct. 30.
Second Stage of Multiyear Effort
The changes are the second stage of a multiyear effort by the group, which operates the Tokyo Stock Exchange, to make the Topix more investable.
The key point
Japan Exchange Group will remove 683 stocks from its Topix benchmark starting October 30 to improve market appeal for investors.
