JAPAN: JPXI Launches TOPIX Microcap and TOPIX Style Index Series for Large-Cap and Mid-Cap Stocks

Wednesday December 27 2023

On 22^nd December 2023, JPX Market Innovation & Research, Inc. (JPXI) published the TOPIX New Index Series, which classifies the TOPIX constituents according to their liquidity (trading value) and market capitalization, and the TOPIX Style Index Series, which classifies the TOPIX constituents into Value and Growth stocks according to their consolidated PBR (Price Book-Value Ratio).

To improve these index series with the aim of meeting various needs as benchmarks and investment targets and will begin calculating and publishing the “TOPIX Micro Cap,” which is a new index that specializes in small-cap stocks and new style indices for large-cap and mid-cap stocks in which the constituents of the TOPIX 500 Value and the TOPIX 500 Growth are each classified into the constituents of the TOPIX Core30, the TOPIX Large70, and the TOPIX Mid400.

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