TOPIX will add 35 new constituents. マクドナルド and ワークマン will newly join TOPIX, with annual constituent changes targeted from 2028 onward. The reforms could also affect market activity, including pension management.
TOPIX, the Tokyo Stock Exchange Stock Price Index, is undergoing a major overhaul, and it was announced that マクドナルド and ワークマン, among others, will newly join the index in this round of constituent changes. The number of new constituents is expected to increase by the end of the year, but a policy has also been outlined to narrow the index to approximately 1,000 constituents by the year after next.
TOPIX was described as an index covering a broad range of stocks, with market capitalization as its basis, unlike the Nikkei average. The aim of the index is said to be to prioritize tradability and include stocks that are readily investable for institutional investors. This is expected to make the index more reflective of market movements and the real economy.
In this round of changes, 683 companies, including 松屋フーズ and ミニストップ, currently fail to meet the requirements and have been designated as transition-measure constituents. The reform is intended to increase trading opportunities and stimulate investment, and it was suggested that it could eventually affect pension management as well.
From 2028 onward, the new TOPIX is to change constituents once a year, continuing to reshape the market following petitions and system changes. The aim of the major overhaul is to update the index so that it more accurately reflects movements in the overall economy.