Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Bengo4.com Inc offers lawyer and tax accountant advisory website services.

<ul>
<li>Back in mid-August, <a href="https://www.smartkarma.com/entities/bengo4-com-inc" target="_blank" data-smartkarma-citation="entities:20383:1" rel="noopener">Bengo4.Com Inc (6027 JP)</a> (<em>"Bengoshi.com"</em>) announced that it had applied to transfer to TSE Prime. 3+mos later, today it announced it will move on 4 Dec 2025.</li>
<li>That sets up a TOPIX inclusion for end-January 2026 and then a likely upweight at end-April 2026.</li>
<li>There is no accompanying offering, and the float is likely small. But the inclusion displaces the current active base. And there's at least one large holder selling recently.</li>
</ul>


Back in mid-August, Bengo4.Com Inc (6027 JP) ("Bengoshi.com") announced that it had applied to transfer to TSE Prime. 3+mos later, today it announced it will move on 4 Dec 2025.
That sets up a TOPIX inclusion for end-January 2026 and then a likely upweight at end-April 2026.
There is no accompanying offering, and the float is likely small. But the inclusion displaces the current active base. And there's at least one large holder selling recently.


[Quiddity Index] Bengo4.com (6027 JP) To TSE Prime and TOPIX Inclusion

Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Index Rebalance

Tekscend Photomask Corp. manufactures semiconductor products. The Company produces semiconductor photomasks and other products. Tekscend Photomask conducts businesses in Japan.

<ul>
<li>Quiddity's "Who is Ready" series of insights aims to objectively identify names listed on the Tokyo Stock Exchange that are potential additions to the TOPIX Index in future.</li>
<li>
<a href="https://www.smartkarma.com/entities/japan-business-systems-inc" target="_blank" data-smartkarma-citation="entities:40379:1" rel="noopener">Japan Business Systems (5036 JP)</a> and <a href="https://www.smartkarma.com/entities/orion-breweries-ltd" target="_blank" data-smartkarma-citation="entities:45701:1" rel="noopener">Orion Breweries (409A JP)</a> were included in the TOPIX index at the end of October 2025. </li>
<li>
<a href="https://www.smartkarma.com/entities/japan-eyewear-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:40217:1" rel="noopener">Japan Eyewear Holdings (5889 JP)</a>, <a href="https://www.smartkarma.com/entities/fit-easy-inc" target="_blank" data-smartkarma-citation="entities:45319:1" rel="noopener">FIT EASY (212A JP)</a>, and <a href="https://www.smartkarma.com/entities/tekscend-photomask-corp" target="_blank" data-smartkarma-citation="entities:45819:1" rel="noopener">Tekscend Photomask (429A JP)</a> will be included in the TOPIX index at the end of November 2025.</li>
</ul>


Quiddity's "Who is Ready" series of insights aims to objectively identify names listed on the Tokyo Stock Exchange that are potential additions to the TOPIX Index in future.

Japan Business Systems (5036 JP) and Orion Breweries (409A JP) were included in the TOPIX index at the end of October 2025. 

Japan Eyewear Holdings (5889 JP), FIT EASY (212A JP), and Tekscend Photomask (429A JP) will be included in the TOPIX index at the end of November 2025.


TOPIX Inclusions: Who Is Ready (Nov 2025)

Orion Breweries, Ltd. conducts brewery businesses. The Company produces and markets beers. Orion Breweries also offers tourism and hotels development services.

<ul>
<li>Quiddity's "Who is Ready" series of insights aims to objectively identify names listed on the Tokyo Stock Exchange that are potential additions to the TOPIX Index in future.</li>
<li>Section-Transfer name <a href="https://www.smartkarma.com/entities/japan-business-systems-inc" target="_blank" data-smartkarma-citation="entities:40379:1" rel="noopener">Japan Business Systems (5036 JP)</a> is expected to be included in the TOPIX index at the end of October 2025.</li>
<li>New listings <a href="https://www.smartkarma.com/entities/orion-breweries-ltd" target="_blank" data-smartkarma-citation="entities:45701:1" rel="noopener">Orion Breweries (409A JP)</a> and <a href="https://www.smartkarma.com/entities/tekscend-photomask-corp" target="_blank" data-smartkarma-citation="entities:45819:1" rel="noopener">Tekscend Photomask (429A JP)</a> are expected to be included in TOPIX at the end of October 2025 and November 2025 respectively.</li>
</ul>


Quiddity's "Who is Ready" series of insights aims to objectively identify names listed on the Tokyo Stock Exchange that are potential additions to the TOPIX Index in future.
Section-Transfer name Japan Business Systems (5036 JP) is expected to be included in the TOPIX index at the end of October 2025.
New listings Orion Breweries (409A JP) and Tekscend Photomask (429A JP) are expected to be included in TOPIX at the end of October 2025 and November 2025 respectively.


TOPIX Inclusions: Who Is Ready (Oct 2025)

Japan Business Systems  / Index Rebalance

Japan Business Systems, Inc. offers information technology services. The Company provides system integration, application development, cloud integration, cloud services, and other services. Japan Business Systems also offers license products.

<ul>
<li>Quiddity's "Who is Ready" series of insights aims to objectively identify names listed on the Tokyo Stock Exchange that are potential additions to the TOPIX Index in future.</li>
<li>Our long-term TOPIX Inclusion pre-event candidate <a href="https://www.smartkarma.com/entities/core-concept-technologies-inc" target="_blank" data-smartkarma-citation="entities:34323:1" rel="noopener">Core Concept Technologies Inc (4371 JP)</a> has experienced a sharp price decline and has moved further away from the required thresholds for Section Transfers.</li>
<li>Separately, <a href="https://www.smartkarma.com/entities/japan-business-systems-inc" target="_blank" data-smartkarma-citation="entities:40379:1" rel="noopener">Japan Business Systems (5036 JP)</a> has announced a potential move to the Prime market which could result in a TOPIX inclusion in late-October 2025.</li>
</ul>


Quiddity's "Who is Ready" series of insights aims to objectively identify names listed on the Tokyo Stock Exchange that are potential additions to the TOPIX Index in future.
Our long-term TOPIX Inclusion pre-event candidate Core Concept Technologies Inc (4371 JP) has experienced a sharp price decline and has moved further away from the required thresholds for Section Transfers.
Separately, Japan Business Systems (5036 JP) has announced a potential move to the Prime market which could result in a TOPIX inclusion in late-October 2025.


TOPIX Inclusions: Who Is Ready (Sep 2025)

Core Concept Technologies Inc / Index Rebalance

Core Concept Technologies Inc. offers information technology services. The Company provides digital transformation supporting, information technology human resources procurement supporting, and other services. Core Concept Technologies provides its services throughout Japan.

<ul>
<li>Quiddity's "Who is Ready" series of insights aims to objectively identify names listed on the Tokyo Stock Exchange that are potential additions to the TOPIX Index in future.</li>
<li>
<a href="https://www.smartkarma.com/entities/gmo-financial-gate-inc" target="_blank" data-smartkarma-citation="entities:35234:1" rel="noopener">GMO Financial Gate (4051 JP)</a>, <a href="https://www.smartkarma.com/entities/azoom-co-ltd" target="_blank" data-smartkarma-citation="entities:32232:1" rel="noopener">Azoom (3496 JP)</a> and <a href="https://www.smartkarma.com/entities/kitazato-corp" target="_blank" data-smartkarma-citation="entities:45255:1" rel="noopener">Kitazato (368A JP)</a> (recent IPO) were included in the TOPIX index at the end of July 2025.</li>
<li>Our long-term pre-event candidate Core Concept Technologies Inc (4371 JP) is getting close to meeting the key Section Transfer requirements.</li>
</ul>


Quiddity's "Who is Ready" series of insights aims to objectively identify names listed on the Tokyo Stock Exchange that are potential additions to the TOPIX Index in future.

GMO Financial Gate (4051 JP), Azoom (3496 JP) and Kitazato (368A JP) (recent IPO) were included in the TOPIX index at the end of July 2025.
Our long-term pre-event candidate Core Concept Technologies Inc (4371 JP) is getting close to meeting the key Section Transfer requirements.


TOPIX Inclusions: Who Is Ready (Aug 2025)

Topix Inclusion
Topix inclusion trades

[Quiddity Index] Bengo4.com (6027 JP) To TSE Prime and TOPIX Inclusion

Bengo4.com - an online consultancy business - said in August it would try to move from TSE Growth to TSE Prime. It got the nod today. That means a...

Travis Lundy

TOPIX Inclusions: Who Is Ready (Nov 2025)

There are currently 140 names that satisfy all 5 key Segment Transfer requirements based on current data. Another 137 names can satisfy 4 out of 5...

Janaghan Jeyakumar, CFA

TOPIX Inclusions: Who Is Ready (Oct 2025)

We expect Orion Breweries (409A JP) to outperform Yakult Honsha (2267 JP) until the close of trading on 30th October 2025 due to strong opposing...

Janaghan Jeyakumar, CFA

TOPIX Inclusions: Who Is Ready (Sep 2025)

There are currently 143 names that satisfy all 5 key Segment Transfer requirements based on current data. Another 145 names can satisfy 4 out of 5...

Janaghan Jeyakumar, CFA

TOPIX Inclusions: Who Is Ready (Aug 2025)

There are currently 133 names that satisfy all 5 key Segment Transfer requirements based on current data. Another 138 names can satisfy 4 out of 5...

Janaghan Jeyakumar, CFA