Income gains as an option during market turmoil: Which stocks are included in the Nikkei Progressive High Dividend Stock Index?

From October 2026 onward, markets face a range of risks, including higher oil prices stemming from tensions in the Middle East, rising long-term interest rates and volatility surrounding the US midterm elections. Against this backdrop, we have highlighted companies included in the Nikkei Progressive High Dividend Stock Index, on the view that companies pursuing progressive dividends, maintaining or increasing their payouts without cutting them, offer attractive investment opportunities.

The Nikkei Progressive High Dividend Stock Index comprises the top 30 stocks by forecast dividend yield from companies that have maintained progressive dividends for 10 or more consecutive years. The constituents are reviewed once a year at the end of June. Stocks that have cut their dividends in their most recent fiscal results or forecasts, or that fail to meet market capitalization or liquidity criteria, are excluded, making this a group of stocks suited to seeking income gains.

Mitsubishi HC Capital expects to increase its dividend for 28 consecutive periods through the fiscal year ending March 2027 and is included in the Nikkei Progressive High Dividend Stock Index. Sekisui House expects to increase its dividend for 15 consecutive periods through the fiscal year ending January 2027. Dai-ichi Life Group reviewed its dividend policy in May 2026 and announced a change from a policy of maintaining its previous policy to targeting at least 50% each fiscal year.

Takeda Pharmaceutical has maintained a policy of no dividend cuts for more than 40 years and has adopted progressive dividends as its shareholder-return policy.

UBE raised its target DOE to at least 3.5% under its medium-term management plan and aims to achieve DOE of 4.0% in the future. These stocks are viewed as buying opportunities for investors seeking long-term income gains.