Nihon Keizai Shimbun Inc. said Thursday it will immediately begin replacing eight components on the 225-issue Nikkei Stock Average, as some of its constituent stocks are scheduled to delist from the bourse following the establishment of holding companies.
Among those exiting the benchmark index, beginning Friday, are Japan Energy Corp., Kawasaki Steel Corp., NKK Corp. and Japan Airlines Co., which will be replaced by the stock listings of three new holding companies: Nippon Mining Holdings Inc., JFE Holdings Inc. and Japan Airline System Corp.
Also out are general contractor Fujita Corp., set to be delisted from the Tokyo Stock Exchange, and Matsushita Communication Industrial Co., which will bow out of the bourse in line with moves to make it a 100 percent subsidiary of its parent company.
Meanwhile, fisheries firm Kyokuyo Co. and construction company Tobishima Corp. were deemed unfit as components due to their low trading volume, Nikkei officials said.
Other newly added stocks will include Mitsui Trust Holdings Inc., Trend Micro Inc., Olympus Optical Co., Isetan Co. and CSK Corp.
The issue switch, carried out annually to update the stock index and implemented incrementally, will be completed by Oct. 2.