Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>JPX-Nikkei 400 is composed of common stocks listed on the Tokyo Stock Exchange. It is a free-float-adjusted capped index composed of 400 constituents.</li>
<li>The annual index review takes place in August every year. We look at the latest rankings of potential ADDs/DELs every month.</li>
<li>Below is a look at the rankings of potential ADDs/DELs for the JPX-Nikkei 400 August 2025 rebalance based on trading data as of end-<em>November</em> 2024.</li>
</ul>


JPX-Nikkei 400 is composed of common stocks listed on the Tokyo Stock Exchange. It is a free-float-adjusted capped index composed of 400 constituents.
The annual index review takes place in August every year. We look at the latest rankings of potential ADDs/DELs every month.
Below is a look at the rankings of potential ADDs/DELs for the JPX-Nikkei 400 August 2025 rebalance based on trading data as of end-November 2024.


Quiddity JPX-Nikkei 400 Rebal 2025: End-Nov 2024 Ranks

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Trump names including banks, energy and tech rally hard, while renewables are sold heavily</li>
<li>Underperformance by semi-capex plays with high China sales may be reflected in Japan SPE today</li>
<li>Global defense rallied on the spectre of higher spend requirements for EU countries</li>
</ul>


Trump names including banks, energy and tech rally hard, while renewables are sold heavily
Underperformance by semi-capex plays with high China sales may be reflected in Japan SPE today
Global defense rallied on the spectre of higher spend requirements for EU countries


Japan Morning Connection: Trump Names Rally in the Wake of Re-Election

<ul>
<li>Japan SPE set for a good start with Google's AI spend starting to pay off.</li>
<li>Corning's beat continues to point to more upside for one of Japan's best performing names YTD.</li>
<li>Capcom weakness may be a buy the dip situation, with a clear run into their most popular franchise release.</li>
</ul>


Japan SPE set for a good start with Google's AI spend starting to pay off.
Corning's beat continues to point to more upside for one of Japan's best performing names YTD.
Capcom weakness may be a buy the dip situation, with a clear run into their most popular franchise release.


Japan Morning Connection: Google Sets a Good Tone for Japan SPE

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Event-Driven

<ul>
<li>The <a href="https://www.smartkarma.com/entities/tokyo-metro-co-ltd" target="_blank" data-smartkarma-citation="entities:40930:1" rel="noopener">Tokyo Metro (9023 JP)</a> IPO is one of the largest IPOs of recent years, well-flagged, and it is hot hot hot!  A super stable, well-known, well-respected, service provider.</li>
<li>There are numerous attractions but I expect people have not thought too deeply about the demand and supply dynamics of different holder types. It's worth thinking about. </li>
<li>This was priced "cheap" but everyone knows that so there may be flippers. This is probably more Japan Post Bank than Japan Post Insurance.</li>
</ul>


The Tokyo Metro (9023 JP) IPO is one of the largest IPOs of recent years, well-flagged, and it is hot hot hot!  A super stable, well-known, well-respected, service provider.
There are numerous attractions but I expect people have not thought too deeply about the demand and supply dynamics of different holder types. It's worth thinking about. 
This was priced "cheap" but everyone knows that so there may be flippers. This is probably more Japan Post Bank than Japan Post Insurance.


The Tokyo Metro (9023 JP) IPO And Aftermarket - What To Look For

<ul>
<li>JPX-Nikkei 400 is composed of common stocks listed on the Tokyo Stock Exchange. It is a free-float-adjusted market-value-weighted (capped) index composed of 400 constituents.</li>
<li>A periodic review is conducted by the Index providers, the JPX Group and Nikkei Inc, in August every year. We look at the potential forward inclusions and removals every month.</li>
<li>Below is a look at potential Inclusions and Removals for the JPX-Nikkei 400 Rebalance to come in August 2025 based on trading data as of end-September 2024.</li>
</ul>


JPX-Nikkei 400 is composed of common stocks listed on the Tokyo Stock Exchange. It is a free-float-adjusted market-value-weighted (capped) index composed of 400 constituents.
A periodic review is conducted by the Index providers, the JPX Group and Nikkei Inc, in August every year. We look at the potential forward inclusions and removals every month.
Below is a look at potential Inclusions and Removals for the JPX-Nikkei 400 Rebalance to come in August 2025 based on trading data as of end-September 2024.


Quiddity JPX-Nikkei 400 Rebal 2025: End-Sep 2024 Ranks

Japan

ANA Holdings Inc provides a variety of air transportation-related services. The Company offers scheduled & unscheduled air passenger services and air courier services. ANA sells aircraft parts and provides travel arrangement & reservation services as well.

Price Gauge
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Ana Holdings (9202 JP)

Quiddity JPX-Nikkei 400 Rebal 2025: End-Nov 2024 Ranks

In total, there are 46 Potential ADDs and 45 Potential DELs (unique names) presented in the current Quiddity Leaderboard. There are 7 months to the...

Janaghan Jeyakumar, CFA

Japan Morning Connection: Trump Names Rally in the Wake of Re-Election

Trump names rally while renewables sold heavily. Underperformance by semi-capex with high China sales may reflect in Japan SPE. Global defense...

Andrew Jackson

Japan Morning Connection: Google Sets a Good Tone for Japan SPE

Positive for SPE as Google's AI investment starts to pays off, Corning's success indicates growth potential for Fujikura, and Capcom's dip could be...

Andrew Jackson

The Tokyo Metro (9023 JP) IPO And Aftermarket - What To Look For

The Tokyo Metro IPO is 23 October. There is substantial index buying demand at month end of both Oct/Nov, then a lull. Flippers will flip, the...

Travis Lundy

Quiddity JPX-Nikkei 400 Rebal 2025: End-Sep 2024 Ranks

There are 43 Potential ADDs and 42 Potential DELs (unique names) presented in the current Quiddity Leaderboard. The final rankings will be based on...

Janaghan Jeyakumar, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)