Shares of SoftBank Corp. closed 0.8 percent higher Wednesday after news that it will be added to the 225-issue Nikkei average, the blue-chip equity gauge.
The mobile phone unit of SoftBank Group Corp. will replace chemicals maker Nippon Kayaku Co., whose shares tumbled 9.9 percent, the most since May 2016. The changes will take effect Oct. 1, the Nikkei announced as part of an annual review.
Shares of other companies that had been touted as possible Nikkei additions fell, with Kakaku.com Inc. sliding 2.9 percent and Zozo Inc. dropping 1.5 percent.