Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

<ul>
<li>Yesterday, the Nikkei Index Committee announced the results of the March 2026 review of the Nikkei 225 Average. We got the two ADDs right, but not the two DELETEs.</li>
<li>The choice of the DELETEs appear to have solidified a practice which informs going forward. Expect more Tech deletions.</li>
<li>Kioxia (285A) IN, Pan Pacific International HD (7532) IN. GS Yuasa (6674) and Casio (6952) OUT. Advantest capped. US$1.2bn Reverse Funding. And crowded end-March flows.</li>
</ul>


Yesterday, the Nikkei Index Committee announced the results of the March 2026 review of the Nikkei 225 Average. We got the two ADDs right, but not the two DELETEs.
The choice of the DELETEs appear to have solidified a practice which informs going forward. Expect more Tech deletions.
Kioxia (285A) IN, Pan Pacific International HD (7532) IN. GS Yuasa (6674) and Casio (6952) OUT. Advantest capped. US$1.2bn Reverse Funding. And crowded end-March flows.


[Quiddity Index] Nikkei 225 Mar-2026 Rebal: Kioxia, PPIH IN, Casio GS Yuasa OUT. Big End-Mar Flows.

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kioxia-holdings-corp" target="_blank" data-smartkarma-citation="entities:29243:1" rel="noopener">Kioxia Holdings (285A JP)</a> and <a href="https://www.smartkarma.com/entities/pan-pacific-international-holdings-corporation" target="_blank" data-smartkarma-citation="entities:13475:1" rel="noopener">Pan Pacific International (7532 JP)</a> will replace <a href="https://www.smartkarma.com/entities/gs-yuasa-corp" target="_blank" data-smartkarma-citation="entities:8298:1" rel="noopener">Gs Yuasa (6674 JP)</a> and <a href="https://www.smartkarma.com/entities/casio-computer-co-ltd" target="_blank" data-smartkarma-citation="entities:18338:1" rel="noopener">Casio Computer (6952 JP)</a> in the <a href="https://www.smartkarma.com/entities/nikkei-225" target="_blank" data-smartkarma-citation="entities:22909:1" rel="noopener">Nikkei 225 INDEX</a> at the March rebalance.</li>
<li>The index committee finally appears to be restoring sector balance with an extra deletion from the overweight Technology sector and an inclusion from the underweight Consumer Goods sector.</li>
<li>
<a href="https://www.smartkarma.com/entities/advantest-corp" target="_blank" data-smartkarma-citation="entities:18107:1" rel="noopener">Advantest Corp (6857 JP)</a>'s capping will result in big inflows to the other index constituents. At current levels, the stock will be capped again at the September rebalance. </li>
</ul>



Kioxia Holdings (285A JP) and Pan Pacific International (7532 JP) will replace Gs Yuasa (6674 JP) and Casio Computer (6952 JP) in the Nikkei 225 INDEX at the March rebalance.
The index committee finally appears to be restoring sector balance with an extra deletion from the overweight Technology sector and an inclusion from the underweight Consumer Goods sector.

Advantest Corp (6857 JP)'s capping will result in big inflows to the other index constituents. At current levels, the stock will be capped again at the September rebalance. 


Nikkei 225 Index Rebalance: Kioxia, Pan Pacific IN; GS Yuasa, Casio Computer OUT

<ul>
<li>Yesterday, the Nikkei Index Committee announced the results of the March 2026 review for the Nikkei 225 Average. TWO ADDs, TWO DELETEs. But not the DELETEs Quiddity was expecting.</li>
<li>The DELETEs chosen signify an even stricter adherence to the sector balancing effort than I (and perhaps others) expected. That changes the Sep26 predictions. </li>
<li>We had Mar26 DELETEs Casio Computer and GS Yuasa as DELs in Sep. Now we have two different ones. And the 3rd choice add has flipped with fourth.</li>
</ul>


Yesterday, the Nikkei Index Committee announced the results of the March 2026 review for the Nikkei 225 Average. TWO ADDs, TWO DELETEs. But not the DELETEs Quiddity was expecting.
The DELETEs chosen signify an even stricter adherence to the sector balancing effort than I (and perhaps others) expected. That changes the Sep26 predictions. 
We had Mar26 DELETEs Casio Computer and GS Yuasa as DELs in Sep. Now we have two different ones. And the 3rd choice add has flipped with fourth.


[Quiddity Index] Nikkei 225 Sep26 Rebal Preview Update - 2 Auto ADDs, 1 Extra, 1 Cap, NEW DELs

<ul>
<li>Assuming the Nikkei 225 March 2026 rebal goes as expected in our <a href="https://www.smartkarma.com/insights/quiddity-index-nikkei-225-mar26-rebal-2-adds-3rd-poss-2-dels-1-cap-another-close" target="_blank" rel="noopener">final expectations insight</a>, there are likely to be two automatic ADDs and one sector catch-up ADD.</li>
<li>Higher value traded in recent months in the semis and semi-precious metals sectors has meant stocks leapt up the rankings. Other rankings are volatile. We made a slight algo change.</li>
<li>Interestingly, the third choice is likely to be a Capital Goods stock. If the Toyota Fudosan TOB fails, there is a dark horse case for <a href="https://www.smartkarma.com/entities/toyota-industries-corp" target="_blank" data-smartkarma-citation="entities:4500:1" rel="noopener">Toyota Industries (6201 JP)</a>. </li>
</ul>


Assuming the Nikkei 225 March 2026 rebal goes as expected in our final expectations insight, there are likely to be two automatic ADDs and one sector catch-up ADD.
Higher value traded in recent months in the semis and semi-precious metals sectors has meant stocks leapt up the rankings. Other rankings are volatile. We made a slight algo change.
Interestingly, the third choice is likely to be a Capital Goods stock. If the Toyota Fudosan TOB fails, there is a dark horse case for Toyota Industries (6201 JP). 


[Quiddity Index] Nikkei 225 Sep26 Rebal Preview II - 2 Auto ADDs, 1 Extra Likely, 1 Cap

<ul>
<li>Assuming the Nikkei 225 March 2026 rebal goes as expected in our <a href="https://www.smartkarma.com/insights/quiddity-index-nikkei-225-mar26-rebal-2-adds-3rd-poss-2-dels-1-cap-another-close" target="_blank" rel="noopener">final expectations insight</a>, there are likely to be two automatic ADDs and one sector catch-up ADD.</li>
<li>Higher value traded in the last 6-12mos in the semis and semi-precious metals sectors has meant stocks leapt up the rankings.</li>
<li>Interestingly, the third choice is likely to be a Capital Goods stock. If the Toyota Fudosan TOB fails, there is a dark horse case for <a href="https://www.smartkarma.com/entities/toyota-industries-corp" target="_blank" data-smartkarma-citation="entities:4500:1" rel="noopener">Toyota Industries (6201 JP)</a>.</li>
</ul>


Assuming the Nikkei 225 March 2026 rebal goes as expected in our final expectations insight, there are likely to be two automatic ADDs and one sector catch-up ADD.
Higher value traded in the last 6-12mos in the semis and semi-precious metals sectors has meant stocks leapt up the rankings.
Interestingly, the third choice is likely to be a Capital Goods stock. If the Toyota Fudosan TOB fails, there is a dark horse case for Toyota Industries (6201 JP).


[Quiddity Index] Nikkei 225 Sep26 Rebal Early Preview - 2 Auto ADDs, 1 Extra Likely, 1 Cap

Japan

GS Yuasa Corporation is a holding company established through the merger of Yuasa Corp. and Japan Storage Battery Co., Ltd.  The Company manages financial operations for its subsidiaries, which manufactures storage batteries used for automobiles, motorcycles, computers, and lighting equipment.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Gs Yuasa Corp (6674 JP)

[Quiddity Index] Nikkei 225 Mar-2026 Rebal: Kioxia, PPIH IN, Casio GS Yuasa OUT. Big End-Mar Flows.

The Nikkei 225 Rebal is today at the close. Since the announcement of the March review names, Kioxia is down 1+% to yesterday's close, but saw a...

Travis Lundy

Nikkei 225 Index Rebalance: Kioxia, Pan Pacific IN; GS Yuasa, Casio Computer OUT

The Nikkei225 March rebalance will be executed at the close today. The adds have started to trade lower and the deletes are trading higher since...

Brian Freitas

[Quiddity Index] Nikkei 225 Sep26 Rebal Preview Update - 2 Auto ADDs, 1 Extra, 1 Cap, NEW DELs

The March 2026 Nikkei 225 review result changes our expectations for the Sep 2026 review both in terms of contents and method. It tilts names...

Travis Lundy

[Quiddity Index] Nikkei 225 Sep26 Rebal Preview II - 2 Auto ADDs, 1 Extra Likely, 1 Cap

Value traded is up across the entire market the last few months. On some stocks the change is fierce. The predictive algos deserved a refresh so...

Travis Lundy

[Quiddity Index] Nikkei 225 Sep26 Rebal Early Preview - 2 Auto ADDs, 1 Extra Likely, 1 Cap

A preview of teh Sep 2026 Nikkei 225 rebal assuming changes are as expected for the Mar26 rebal suggests 3 ADDs and 3 DELETEs and $4bn of Advantest...

Travis Lundy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)