Japan Exchange Group will narrow the number of TOPIX constituents to 986 in the overhaul at the end of October, a reduction of approximately 40% from 1,636 at the end of September. 日本マクドナルドホールディングス, ワークマン and GO will be newly included.
The TOPIX overhaul will be carried out by the TSE as part of its market restructuring, switching to constituent selection that places greater emphasis on market capitalization and trading value. The revision will significantly reduce the number of constituents from the current composition and promote inclusion of growth companies.
The weighting of the 683 stocks that do not currently meet the criteria will be reduced in stages and brought to zero by July 2028. Stocks that meet the criteria will retain a 50% weighting during the initial phase.
The 35 newly added stocks include mainly mid-sized companies listed on the Standard Market, including 日本マクドナルドホールディングス, ワークマン and the IPO company GO. The index will replace constituents annually from 2028 onward.
The TOPIX reform aims to improve corporate value through the restructuring of market segments and to strengthen the Japanese equity market, centered on the Prime Market.