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Kyodai-Kawakita/JPX Japan Index to be Launched

2022/10/31

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 Kyoto University and JPX Market Innovation & Research, Inc.(JPXI)have jointly developed a new “Kyodai-Kawakita/JPX Japan Index” for long-term investors and have announced that its calculation will begin from January 30, 2023.
 The Collaborative Research Chair for Securities Investment at the Graduate School of Management of Kyoto University and Tokyo Stock Exchange, Inc. have jointly conducted research in developing a new stock price index for the Japanese equity market, with the common goal of creating a new frontier for stock price indices.This index is based on formulations by Professor Emeritus Dr. HidetakaKawakita of Kyoto University, who has conducted research based on theory and practices for securities investments for many years.

 “It is a great honor to add a stock index developed from a long-term investment perspective by the university to JPXI’s index line-up. I’ll be happy as long as this index helps even a few individual investors and pensions build their assets,” commented Dr. Hidetaka Kawakita, Professor Emeritus of Kyoto University.
 ”We are very pleased to announce the launch of a new Japanese stock index through our joint research with Kyoto University. We hope that this index will contribute to making the Japanese stock market more attractive,” said Mr. Naoya Takahashi, Executive Officer at JPXI.

1. Overview

Index Name Kyodai-Kawakita/JPX Japan Index
Index
Administrator
Kyoto University
Constituent Issues The constituent universe consists of all listed companies on the Tokyo Stock Exchange excluding “Banks,” “Securities and Commodities Futures,” “Insurance,” and “Other Financing Business.” Index constituents are selected by Kyoto University based on the level and stability of their Net Sales Growth Rate, Rate on Sales, Return on Assets, Return on Equity, Capital Ratio and Foreign Sales Ratio.
Index Weights In principle, the weights of individual stocks shall be equal weightings as of the base date, and the upper limit shall be 1%. For further details, please see the index guidebook (Appendix, Japanese version only).
Base Date/
Base Value
January 27, 2023 / 10,000
Launch Date January 30, 2023
Total Return Index Available
Calculation
Interval
The closing value of the index will be published daily.
Distribution of
Index Data
Index data is provided via TOPIX (DFS) – (paid service).

2. Use of Index License
 A licensing agreement with JPXI is required to use the index in the creation and sales of financial products and provision of the index to third parties.

 Contact
 Office of Society-Academia Collaboration for Innovation, KYOTO University
 E-mail:ip-work@saci.kyoto-u.ac.jp


 Index Business, JPX Market Innovation & Research, Inc.
 E-mail:index@jpx.co.jp

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