FP Among 13 Stocks to Move to Tokyo's Main Board
IBJ Leasing Co., FP Corp. (7947) and Unicharm Petcare Corp. are among 13 stocks on the Tokyo Stock Exchange's second section that will move to the bourse's main board next month, according to the exchange.
The Tokyo Stock Exchange, the world's second-largest by market value, said on its Web site that it will move the stocks to the first section, which has a market value of 396 trillion yen ($3.6 trillion), from Sept. 1.
Managers of funds designed to mirror the Topix index may have to buy the companies' shares to reflect the additions. At least 17 trillion yen in funds tracked the Topix as of February, according to Daiwa Institute of Research, a research unit of Daiwa Securities Group Inc.
IBJ Leasing, Japan's eighth-largest leasing company, is the biggest company by market value among those subject to change, followed by FP and Unicharm Petcare.
Shares of IBJ Leasing, with a market capitalization of 85.9 billion yen, have surged 33 percent this year, while FP, which makes polystyrene and other synthetic resin food containers, has jumped 31 percent. Unicharm Petcare, a pet goods maker and unit of Uni-Charm Corp., has climbed 22 percent this year.
Below is the list of stocks that are subject to the move in order of the size of their market capitalization.
IBJ Leasing Co. (8425 JT) FP Corp. (7947 JO) Unicharm Petcare Corp. (2059 JT) Unipres Corp. (5949 JT) Simplex Technology Inc. (4340 JT) Cmic Co. (2309 JT) Maezawa Kyuso Industries Co. (6485 JT) Hakudo Co. (7637 JT) Ichinen Co. (9619 JT) Toyo Machinery & Metal Co. (6210 JO) Fukushima Industries Corp. (6420 JT) Falco Biosystems Ltd. (4671 JO) Autoseven Co. (7508 JT)
To contact the reporter on this story: Tomoko Yamazaki in Tokyo at email@example.com.