TOPIX
Encyclopedia
Tokyo stock Price IndeX, commonly known as TOPIX, along with the Nikkei 225
Nikkei 225
The , more commonly called the Nikkei, the Nikkei index, or the Nikkei Stock Average , is a stock market index for the Tokyo Stock Exchange . It has been calculated daily by the Nihon Keizai Shimbun newspaper since 1950. It is a price-weighted average , and the components are reviewed once a year...

, is an important stock market index
Stock market index
A stock market index is a method of measuring a section of the stock market. Many indices are cited by news or financial services firms and are used as benchmarks, to measure the performance of portfolios such as mutual funds....

 for the Tokyo Stock Exchange
Tokyo Stock Exchange
The , called or TSE for short, is located in Tokyo, Japan and is the third largest stock exchange in the world by aggregate market capitalization of its listed companies...

 (TSE) in Japan
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...

, tracking all domestic companies of the exchange's First Section. It is calculated and published by the TSE. , there are 1,669 companies listed on the First Section of the TSE, and the market value for the index was ¥
¥
¥ is a currency sign used by the Japanese yen and the Chinese yuan currencies. The symbol resembles a Latin letter Y with a double stroke. The base unit of both currencies shared the same Chinese character pronounced yuán in Mandarin Chinese and en in Standard Japanese...

197.4 trillions.

The index transitioned from a system where a company's weighting is based on the total number of shares outstanding (commonly called the float) to a weighting based on the number of shares available for trading (called the free float). This transition took place in three phases starting in October 2005 and was completed in June 2006. Although the change is a technicality, it had a significant effect on the weighting of many companies in the index, because many companies in Japan have significant holdings of shares of their business partners as a part of intricate business alliances, and such shares are no longer included in calculating the weight of companies in the index.

TSE currently calculates and distributes TOPIX every second and further plans to launch a new High-Speed Index dissemination service provided at the millisecond level starting from February 28th, 2011.

History of TOPIX

  • 1969/7/1 TSE to begin calculating and publishing “TOPIX” and “TOPIX Sector Indices”
  • 1969/8/18 TSE to begin calculating and publishing “Tokyo Stock Exchange Second Section Stock Price Index”
  • 1988/9/3 TOPIX Future Trades begin at TSE
  • 1989/10/20 TOPIX Option Trades begin at TSE
  • 1998/8/2 TSE to begin calculating and publishing “TOPIX New Index Series”
  • 1999/2/1 TSE to begin calculating and publishing “TOPIX Total Return Index”
  • 2001/7/13 TOPIX ETF Trades begin TSE
  • 2003/8/1 TSE to begin calculating and publishing “Tokyo Stock Exchange REIT Index”
  • 2003/9/16 TSE to begin calculating and publishing “Tokyo Stock Exchange Mothers Index”
  • 2005/10/31 Introduction of Free Float Adjusted Indices (Shift in three phases)
  • 2005/11/17 Lyxor AM (Lyxor Asset Management) introduces Lyxor ETF Japan (TOPIX) for trading on Euronext Paris
    Euronext Paris
    Euronext Paris is France's securities market, formerly known as the Paris Bourse, which merged with the Amsterdam, Lisbon and Brussels exchanges in September 2000 to form Euronext NV, which is the second largest exchange in Europe behind the UK's London Stock Exchange...

  • 2006/04/05 Lyxor (Societe Generale) lists on Borsa Italiana the world's most cost-effective and diversified Japan-based UCITS III compliant ETF with TOPIX as the underlying index
  • 2006/04/25 Development of New Custom Index that incorporates Corporate Social Responsibility (CSR)
  • 2006/6/30 Free Float adjustment for TOPIX completed
  • 2006/08/09 TOPIX for the first time available as ETFs in Germany - Start of trading in Deutsche Borse's XTFsegment - Lyxor AM continues to expand investment universe
  • 2007/08/21 Lyxor AM, SGX and TSE introduce first Japan ETF in Singapore based on TOPIX
  • 2007/09/25 London Stock Exchange, Tokyo Stock Exchange, Inc. and Lyxor AM announce listing of Lyxor ETF Japan in London
  • 2007/11/21 Standard & Poor's Launches New Shariah Index for Japan
  • 2007/12/10 TSE begins calculating and publishing new sector indices, the "TOPIX-17 Series"
  • 2008/02/20 Korea Exchange, Tokyo Stock Exchange, Inc. and Samsung Investment Trust Management Co.,Ltd. announce listing of KODEX Japan ETF (TOPIX 100) in Seoul
  • 2008/06/03 Lyxor AM and TSE introduce first Japan ETF in Hong Kong based on TOPIX®
  • 2008/07/25 Listing of TOPIX ETF in the US
  • 2009/02/09 TSE to begin calculating and publishing "TOPIX Style Index Series" and "TOPIX Composite Index Series"
  • 2009/04/01 Daily reporting of TOPIX on the CCTV Economic Channel begins
  • 2009/05/22 TSE to begin to offer Historical Data of TOPIX Style Index Series
  • 2009/07/01 TOPIX celebrates 40th Anniversary
  • 2009/11/24 TOPIX Futures to trade on NYSE Liffe beginning in the summer of 2010
  • 2010/03/08 TSE to begin calculation of the Tokyo Stock Exchange Dividend Focus 100 Index - a new exchange index focused on dividend yield
  • 2010/06/18 TSE to begin calculating and publishing "Tokyo Stock Exchange REIT Property Sector Index Series" - a new index series focused on REITs' Investment Property Sectors
  • 2010/09/13 Real-time dissemination of "Tokyo Stock Exchange REIT Property Sector Index Series" begins

Statistics (Close Price)

Year High Low
1985  1058.35 916.93
1986  1583.35 1025.85
1987  2258.86 1557.46
1988  2357.03 1690.44
1989  2884.80 2364.33
1990  2867.70 1523.43
1991  2028.85 1638.06
1992  1763.43 1102.50
1993  1698.67 1250.06
1994  1712.73 1448.45
1995  1585.87 1193.16
1996  1722.13 1448.45
1997  1560.28 1130.00
1998  1300.30 980.11
1999  1722.20 1048.33
2000  1754.78 1255.16
2001  1440.97 988.98
2002  1139.43 815.74
2003  1105.59 770.62
2004  1217.87 1022.61
2005  1663.75 1109.19
2006  1783.72 1458.30
2007  1816.97 1437.38
2008  1430.47 746.46
2009  975.59 700.93
2010  998.90 803.12

TOPIX New Index Series

TOPIX 1000 Component stocks in the TOPIX 500 and highly market capitalized stocks of the TOPIX small TOPIX 500 Component stocks in the TOPIX Core 30, the TOPIX Large 70 and the TOPIX Mid 400 TOPIX 100 Component stocks in the TOPIX Core 30 and the TOPIX Large 70 TOPIX Core 30 The 30 most liquid and highly market capitalized stocks
TOPIX Large 70 After the Core 30, the 70 most liquid and highly market capitalized stocks
TOPIX Mid 400 Excluding TOPIX 100 stocks, these are the remaining stocks in the TOPIX 500
TOPIX Small Outside the component stocks in the TOPIX 500 and non-eligible1 stocks in the TOPIX

  1. New companies which have not been listed on the TSE for 6 months or more, out of the companies listed on the 1st section of the TSE


External links

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