Companies including Nisshinbo Holdings and Sanku are changing presidents, spurring reforms from within. On the 7th, JPX indicated a policy of reducing TOPIX constituents to approximately 60% of the current level, while the Nikkei Average fell back in the market.
Japan Exchange Group (JPX) announced that it would reduce the number of constituents in the Tokyo Stock Price Index (TOPIX) to approximately 60% of the current level. It said the restructuring of the market would be advanced by narrowing the constituents based on criteria including liquidity, while efforts to encourage change from within are gaining momentum as the scope for companies to maneuver narrows.
In the Tokyo stock market on the 7th, the Nikkei Average fell back for the first time in 3 trading days, closing at ¥70,035, down ¥648 from the previous day. As the market remained in a period of adjustment following its rapid rise, attention also focused on individual companies pursuing internal reforms.
Changes in the top management of Nisshinbo Holdings, Sanku and other companies were reported, prompting views that efforts to advance reforms from within are spreading. Some observers also pointed out that these developments could mean organizational changes at companies affect the market outlook.