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2nd February 2012
Regarding the calculation of the Nikkei stock Indices due to TSE's failure.
Due to the failure of transmission of the stock information by the Tokyo Stock Exchange (TSE), the TSE has suspended the trading of stocks affected by the failure during today's morning session. As some constituents of Nikkei Stock Indices including Nikkei 225 (e.g. 20 issues of the Nikkei 225, please refer them below) hadn't been traded during the morning session, Nikkei used base price (i.e. closing price of yesterday) for those issues to calculate the indices according to its protocol. From afternoon session begun at 12:30 pm when the trading of those suspended issues resumed, Nikkei started to calculate the indices using traded prices normally.
The 20 constituents of the Nikkei 225 affected by the trouble were:
Code Company Name
1332 Nippon Suisan
3405 Kuraray
4041 Nippon Soda
4902 Konica Minolta Holdings
5901 Toyo Seikan
6301 Komatsu
6471 NSK
6501 Hitachi
6503 Mitsubishi Electric
6758 Sony
7202 Isuzu Motors
7951 Yamaha
8267 Aeon
8270 Uny
8750 Dai-ichi Life Insurance
8802 Mitsubishi Estate
9005 Tokyu
9501 Tokyo Electric Power
9503 Kansai Electric Power
9531 Tokyo Gas |
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20th January 2012
Regarding the treatment of Olympus Corporation in Nikkei indices.
Nikkei Inc. keeps Olympus Corporation (7733) as a constituent of the Nikkei Stock Average (Nikkei 225), Nikkei Stock Index 300, and Nikkei 500 Stock Average following the decision by the Tokyo Stock Exchange to cancel the designation of “Securities under supervision (Kanri-Meigara)”.
Olympus Corporation was assigned to “Kanri-Meigara” on November 10 last year. On the same day, Nikkei announced to keep it as a constituent of the indices for the present and closely monitor the examination and decision of the Tokyo Stock Exchange. |
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19th December 2011
NEEDS newsletter to change from quarterly to non-periodical.
From January 2010, NEEDS has been publishing a quarterly newsletter, with a focus on Japanese Corporate Financial and Equity markets for investors in Japan. From January 2012 the quarterly edition of the NEEDS newsletter will be published on a non-periodical basis, with new and innovative content and latest trends from the Japanese financial market. |
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10th November 2011
Regarding Olympus Corporation in Nikkei Indices
Today, Olympus Corporation (7733), which is a constituent of the Nikkei Stock
Average, the Nikkei Stock Index 300, and the Nikkei 500 Stock Average, was
appointed as a “Security under supervision” (Kanri stock) by the Tokyo Stock
Exchange.
Although security under supervision is a deletion candidate under the
Constituent Selection Rules, Nikkei Inc. keeps Olympus as a constituent of the indices
at this stage. By examining the financial statement announcement and other
information, Nikkei will decide and announce whether or not to replace Olympus later. |
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13th September 2011
Regarding the Stock Split of T&D Holdings in Nikkei 225
T&D Holdings, Inc. (8795), a Nikkei Stock Average (Nikkei 225) constituent, is planning a stock split of 1 to 2. From its ex-right date of September 28, Nikkei Inc. will change the presumed par value of T&D Holdings from 500yen to 250yen in line with its ratio of split.
Since the price level of T&D Holdings in Nikkei 225 will stay the same, the divisor will not be changed by this split. |
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4th August 2011
Nikkei 225 and Nikkei 300 Constituent Changes due to Corporate Restructuring
Nikkei Inc has today announced that a number of the constituents of the Nikkei 225 and Nikkei 300 stock indices are to be delisted following corporate restructuring. Nikkei has conducted its annual review of constituents earlier than in previous years to rebalance the indices. Nikkei index data will reflect these changes automatically.
Mizuho Trust & Banking (8404) and Mizuho Securities (8606) will become wholly owned subsidiaries of Mizuho Financial Group and will be delisted on August 29. They will be replaced by Aozora Bank Ltd (8304) with a par value of 50 and Sony Financial Holdings (8729) with a presumed par value of 250. CSK Corp (9737) will be merged with Sumitomo Computer Systems Corp and will be delisted on September 28 and replaced with Amada Co (6113) with a presumed par value of 50.
On September 28th the presumed par value of NKSJ Holding (8630) will change from 50 yen to 200 yen due to a 4 to 1 reverse stock split. This change takes place on the ex rights date.
On August 29, Mizuho Trust and Banking and Mizuho Securities will be delisted from the Nikkei 300 and replaced by Mitsubishi Tanabe Pharma Corp (4508) and The Joyo Bank (8333). On September 28 CSK Corp and Taisho Pharmaceutical Co (4535) will be delisted. CSK Corp will be replaced with DeNA Co (2432) while Taisho Pharmaceutical Co will be restructured into Taisho Pharmaceutical Holdings which will be added to the Nikkei 300 on October 4th. Between September 28 and October 4, the Nikkei 300 will be calculated with 299 constituents.
Summary of Changes – Nikkei 225
| Date |
Code |
Addition
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Code
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Deletion
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| Aug 29 |
8304
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Aozora Bank (50)* |
8404 |
Mizuho Trust & Banking Co |
| 8729 |
Sony Financial Holding Inc (250)* |
8606 |
Mizuho Securities Co |
| Sep 28 |
6113 |
Amada Co (50)* |
9737 |
CSK Corporation |
| 8630 |
NKSJ Holding (Presumed Par Value change from 50 yen to 200 yen |
* Presumed Par Value
Summary of Changes - Nikkei 300
| Date |
Code |
Addition
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Code
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Deletion
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| Aug 29 |
4508
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Mitsubishi Tanabe Pharma Corporation |
8404 |
Mizuho Trust & Banking Co |
| 8333 |
The Joyo Bank |
8606 |
Mizuho Securities Co |
| Sep 28 |
2432 |
DeNA Co |
4535 |
Taisho Pharmaceutical Co |
| |
(None) |
9737 |
CSK Corporation |
| Oct 4 |
NA |
Taisho Pharmaceutical Holdings Co |
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(None) |
Please direct any queries regarding this information to the E-Media Department at Nikkei Europe. |
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20th June 2011
Par Value Change for West Japan Railway Company in the Nikkei 225
West Japan Railway Company (9021), a constituent in the Nikkei 225 index, has announced a stock split of 1 to 100. On the ex rights date of June 28th, Nikkei will change the presumed par value for West Japan Railway Company from 50,000 yen to 500 yen in line with the ratio of the split. As the price level in the index will be unaffected, the Nikkei 225 divisor will be unadjusted. |
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15th June 2011
Nikkei Inc Launch Strategy Index Series for Nikkei 225
Nikkei has announced the launch of four new investment strategy indices based on the Nikkei 225 index to provide investors with new investment tools and opportunities. The four indices “Nikkei Covered Call Index”, “Nikkei 225 Risk Control Index”, “Nikkei 225 Leveraged Index” and “Nikkei 225 Inverse Index” were launched on 6th June and will be calculated on an end of day basis. The newly calculated indices will have a base value set at 10,000 points at 28th December 2001.
Nikkei 225 Covered Call Index
The Nikkei Covered Call Index uses the performance of a covered call strategy whereby an investor buys the Nikkei 225 index and simultaneously sells a call option for the index. This strategy reduces losses in the event that the index falls by factoring in the option premium collected when selling the call option (which in the event of a decrease in the index would not be exercised). However a covered call strategy also limits profits if the index increases in value more than expected. The index is based on selling a Nikkei 225 near term call option on the Osaka Stock Exchange.
Nikkei 225 Risk Control Index
The index smoothes the volatility of the Nikkei 225 and controls fluctuations. The index has a volatility target of 15% and should the volatility of the Nikkei 225 increase sharply; the index value is controlled so that the index volatility is less than the Nikkei 225. The Nikkei 225 is multiplied by a Risk Control Factor to create the Risk Control Index. The factor is changed daily and based on the volatility of the index over the last 20 business days.
Nikkei 225 Leveraged Index & Nikkei 225 Inverse Index
These two indices are designed to meet the requirements of leveraged and short investors. The Nikkei 225 Leveraged Index represents double the performance of the Nikkei 225. For instance if the Nikkei 225 index rose by 5%, the Leveraged Index will rise by 10%. This index is intended for high risk investors who are heavily leveraged in expectation of a bull market. The Nikkei 225 Inverse Index is designed to match the performance of shorting the index in expectation of a bear market. For instance if the Nikkei 225 index rose by 5%,
the Nikkei Inverse Index will fall by 5%.
More information about the calculation methods can be found here. Data options for these indices will be announced at a later date. For more information, please contact a Nikkei Representative. |
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31st May 2011
Nikkei Index Calculation Data Now Available Online via Financial QUEST
Index calculation data for the Nikkei 225 and Nikkei 300 indices is now available to download via Nikkei’s online data service, FinancialQUEST. The data is used by Nikkei Digital Media to calculate the official Nikkei indices and is essential for investment professionals to accurately track and benchmark the Nikkei 225 and Nikkei 300 indices.
The index data available via Financial QUEST provides daily updates to index weighting data, number of outstanding shares and the final share price used to calculate the indices. Historical data for index calculation is also available from 1977 – present for Nikkei 225 constituents.
The new service will compliment Nikkei’s current index data feed services offered via NEEDS BULK and our official 3rd party data vendor, MarkIT. With the addition of data access via Financial QUEST, historical and on demand index calculation data is now available, making it ideal for testing index recalculations, back testing, academic research and index tracking.
The data is available via a special subscription to NEEDS FinancialQUEST, please contact a Nikkei Representative for more details. |
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17th March 2011
Constituents Changes to the Nikkei 225 and Nikkei 300 in April
Nikkei Inc has announced that there will be several changes to constituents in the Nikkei 225 and Nikkei 300 indices as a result of three issues being delisted due to corporate restructuring. Sanyo Electric (6764), Panasonic Electric Works (6991) and The Sumitomo Trust and Banking Co (8403) will be delisted on 29th March from both the Nikkei 225 and 300 indices.
They will be replaced in the Nikkei 225 index by Yaskawa Electric Corp (6506) with a presumed par value of 50 yen; Dainippon Screen Mfg. Co (7735) with a presumed par value of 50 yen; and The Daiichi Life Insurance Company (8750) with a presumed par value of 50,000 yen.
For the Nikkei 300 index, they will be replaced by H2O Retailing Corp (8242), Chuo Mitsui Trust Holdings (8309) and Sundrug Co (9989)
All changes will take place on 29th March and details of number of outstanding shares for index calculation of the Nikkei 300 will be sent with NEEDS files the day before the changes are made. From 1st April, Chuo Mitsui Trust Holdings (8309) will be renamed Sumitomo Mitsui Trust Holdings. |
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14th March 2011
Nikkei Service Update: Tohoku Earthquake and Power Outages
Japanese Prime Minister Naoto Kan has announced a series of rolling blackouts across Japan in response to the 9.0M earthquake and tsunami that hit the Tohoku region of Japan on Friday. Nikkei Digital Media has announced that in line with Nikkei’s Disaster Contingency Plan, Nikkei servers for NEEDS and Telecom21 will be unaffected and Nikkei does not anticipate any interruption of service during this time. |
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14th February 2011
Nikkei NEEDS Corporate Financial Data Ready for IFRS Implementation
In December 2009 the Japanese FSA published a set of Cabinet Office Ordinances to allow companies to submit their Yuho financial statements based on International Reporting Standards (IFRS), with companies provided the option to submit IFRS reports in the financial year 2010 - 2011 before it becomes mandatory in 2015 - 2016. As a result of this NEEDS data formats for Yuho/ Tanshin Financial Statements, Earnings Estimates and Segment data will be changed to reflect the implementation of IFRS.
Corporate Financial
We will start recording IFRS reports from March 2011 and retroactively record data in IFRS format from June 2010. IFRS will be added to the Consolidation Criteria Flag (Item 27) as follows:
0: Unconsolidated
1: Japanese Standard
2: US GAAP
3: IFRS
We will also add an item to the Record Type to record IFRS. We will announce this information to users in the next few weeks.
In the first year of mandatory IFRS disclosure (expected to be 2015 - 2016), we will record the Japanese Standard reports alongside IFRS reports. However after this, we will record additional reports which may be disclosed on a voluntary basis in Japanese Standard.
Segment Information
Segment Information will be handled according to management approach under the requirements of IFRS. Since April 2010, segment information has been disclosed in a new format. Various changes are also scheduled around March 2011 in order to officially deal with segment information disclosed by companies. We will contact clients with information regarding the confirmed format when it is released.
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- If reporting segment is listed by product/ service it will be recorded By Sector; if listed by region it will be recorded By Location.
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- Information By Product/ Service and Information By Region disclosed as Related Information will not be recorded.
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- Segment information on an individual basis which is disclosed by unconsolidated companies will not be recorded.
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- Instead of existing profit items, newly disclosed Segment Profit will be recorded.
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- Segment “Total”, “Corporate/Elimination (unallocated amount)” and “Consolidated total are to be allocated to “Sum”, “Other” and “Total (Total of Sum and Other)” respectively for the new disclosure rule.
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Earnings Estimates
In August 2010 we started to record Earnings Estimates when disclosed under IFRS. From March 2011 we will record Earnings Estimates Results data and a report outlining the finalized layout of IFRS data will be sent to clients during February 2011.
Earnings Estimates by Companies (CESTM010) records the IFRS flag in item 14 - indicating which standard has been used in compiling the financial reports.
0: Unconsolidated
1: Japanese Standard
2: US GAAP
3. IFRS
Items will also change in definition as detailed in the table below.
| Loc. |
Data Type |
Byte Length |
Item Name |
IFRS Name |
| 157 |
N |
14 |
Ordinary Profit (Cumulative Total) |
Profit Before Tax |
| 171 |
N |
14 |
Current Profit (Cumulative Total) |
Current Profit attributed to Owner of Parent Company |
| 185 |
N |
14 |
Earnings per Share (Cumulative Total) |
Basic Earnings per Share |
| 199 |
N |
14 |
IFRS/ Current Profit (Cumulative Total) |
Current Profit based on IFRS |
| 269 |
N |
14 |
Ordinary Profit (Quarterly) |
Profit Before Tax |
| 283 |
N |
14 |
Current Profit (Quarterly) |
Current Profit attributed to Owner of Parent Company |
| 297 |
N |
14 |
Earnings per Share (Quarterly) |
Basic Earnings per Share |
| 311 |
N |
14 |
IFRS/ Current Profit (Quarterly) |
Current Profit based on IFRS |
Further details specifying exact changes to data files will be sent to clients before the proposed adoption of IFRS recording by Nikkei in March 2011.
For more information regarding IFRS and the recording of financial statement data by Nikkei, please contact a Nikkei Representative. |
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24th January 2011
Nikkei Introduces R-Square and EViews services to NEEDS
Nikkei has today announced the launch of R-Square and EViews - a web based service covering Japanese Real Estate Investment Trusts (REITS) and a CD based service for Japanese macroeconomic data via EViews. R-Square has been launched to provide investors of Japanese REITS basic attribute information, indicators, unit prices, loan status and real estate owned by the trusts as well as news from the real estate investment industry, maps and other economic statistics.
The information is available as a dedicated web service, requiring only an internet browser to run. The service allows subscribers to search and compare the stocks of REITS and conduct visual analysis into profitability of the trusts. The service is currently available in the Japanese language and is an ideal resource for investors in Japanese real estate. If you would like further information about R-Square, please contact a Nikkei Representative.
The EViews service provides Nikkei NEEDS macroeconomic data for Japan in a format that enables users to load the data into QMS EViews software for econometric analysis, forecasting and simulation of the Japanese economy. Nikkei’s macroeconomic database is a highly comprehensive, detailed and accurate data source for macroeconomic statistics compiled from various government departments, the Bank of Japan and from business sentiment questionnaires. If you use EViews and would like to use Nikkei Macroeconomic data, please contact a Nikkei Representative. |
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10th January 2011
Nikkei Europe Change of Address Notification
Nikkei Europe, the European subsidiary of the Nikkei 225 index provider Nikkei Inc, will be moving from our current location on Finsbury Circus on the 24th January 2011. The new address for our offices will be Nikkei Europe Ltd, 6th Floor, Barnard’s Inn, 86 Fetter Lane, London, EC4A 1EN. Full details on changes to telephone numbers will be sent to clients prior to the relocation. For further details of changes please contact the E-Media Department via email or via the Enquiry form of this website. |
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(C) 2011 Nikkei Digital Media, Inc. All rights reserved.
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