Nitto Denko, Tokyu Fudosan to Join Nikkei 225 Stock AverageAnna Kitanaka and Toshiro Hasegawa
Nitto Denko Corp. and Tokyu Fudosan Holdings Corp. will be added to the Nikkei 225 Stock Average.
Nitto Denko, a materials manufacturer, will join the gauge on Sept. 26, index compiler Nikkei Inc. said today. Tokyu Fudosan, a holding company formed from the merger of three firms including Tokyu Land Corp., will be added to the measure from Oct. 2. Tokyu Land will be removed on Sept. 26 and Mitsubishi Paper Mills Ltd. will be dropped on Oct. 2, according to a statement on Nikkei’s website.
The Nikkei 225, which has surged 33 percent this year, is a price-weighted stock average that’s been calculated daily since 1950. The methodology means Fast Retailing Co., Asia’s biggest apparel retailer, has the biggest weighting on the gauge at 9.5 percent. It’s followed by SoftBank Corp. at 5.5 percent and Fanuc Corp. with 4.6 percent.