Japan Airlines Co. will be added back to the Nikkei 225 Stock Average for the first time since it relisted in 2012.
(Bloomberg) — Japan Airlines Co. will be added back to the Nikkei 225 Stock Average for the first time since it relisted in 2012.
Tokyo Disney operator Oriental Land Co. will also join the blue-chip gauge, along with semiconductor maker Renesas Electronics Corp., Nikkei Inc. announced in its periodic review.
Textiles maker Toyobo Co., Nippon Light Metal Holdings Co. and Toho Zinc Co. will be removed from the Nikkei 225.
“The inclusion of Renesas is a bit of a surprise, but overall, it is mostly as expected,” said Ryuta Otsuka, a strategist at Toyo Securities Co. “Regarding the stocks that will be included, individual investors may buy them Monday morning in an attempt to catch up with the market, but it is likely to be temporary.”
The results of the review were in line with projections of analysts. Some had also mentioned Lasertec Corp. or Nitori Holdings Co. as possible additions. Others that had been seen as potential deletions included Nippon Sheet Glass Co. and Mitsui E&S Holdings Co.
Japan Airlines relisted in Tokyo in 2012 following a restructuring under bankruptcy protection. Its shares are down 4.7% so far this year compared with a gain of 6.8% in the Topix.
–With assistance from Winnie Hsu.
(Adds context on Japan Airlines in last paragraph)
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.