Japan Shame Index Dumps Toshiba After Scandal, Adds Olympus
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Toshiba Corp. was kicked off a stock index showcasing Japan’s best companies after a $1.2 billion accounting scandal, while Olympus Corp. made the cut.
The government-backed JPX-Nikkei Index 400 added 42 other firms, including Daio Paper Corp. and Shimizu Corp., the gauge’s compilers said in a statement Friday. Lixil Group Corp., McDonald’s Holdings Co. (Japan) and Konami Corp. are among those being removed when the changes take effect on Aug. 31.