Japan Shame Index Dumps Sony Stock, Adds Panasonic
This article is for subscribers only.
Sony Corp., the consumer-electronics maker that posted losses in five of the past six years, was rejected in the first reshuffle of Japan’s profit-oriented stock index while Panasonic Corp. made the cut.
The government-backed JPX-Nikkei Index 400 added 30 other companies, including Mazda Motor Corp., Daiwa Securities Group Inc., Seiko Epson Corp. and Aiful Corp., the gauge’s compilers said in a statement today. Capcom Co. and Skymark Airlines Inc. are among those being tossed out when the changes take effect on Aug. 29. Inclusion in the measure matters because investors including Japan’s 126.6 trillion yen ($1.2 trillion) pension fund use it as a benchmark.