The , commonly known as the TOPIX, is an important

stock market index In finance, a stock index, or stock market index, is an Index (economics), index that measures the performance of a stock market, or of a subset of a stock market. It helps investors compare current stock price levels with past prices to calcul ...

for the

Tokyo Stock Exchange The , abbreviated as Tosho () or TSE/TYO, is a stock exchange located in Tokyo, Japan. The exchange is owned by Japan Exchange Group (JPX), a holding company that it also lists (), and operated by Tokyo Stock Exchange, Inc., a wholly owned sub ...

(TSE) in

Japan Japan is an island country in East Asia. Located in the Pacific Ocean off the northeast coast of the Asia, Asian mainland, it is bordered on the west by the Sea of Japan and extends from the Sea of Okhotsk in the north to the East China Sea ...

, along with the

Nikkei 225 The Nikkei 225, or , more commonly called the ''Nikkei'' or the ''Nikkei index'' (), is a stock market index for the Tokyo Stock Exchange (TSE). It is a price-weighted index, operating in the Japanese yen, Japanese Yen (JP¥), and its compone ...

. The TOPIX tracks the entire market of domestic companies and covers most stocks in the Prime market and some stocks in the Standard market. It is calculated and published by the TSE. As of January 2025, there are planned to be 1,716 companies listed on the TSE, since about 400 stocks with low liquidity were phased out after the TSE reform in 2022. The index transitioned from a system where a company's weighting is based on the total number of shares outstanding to a weighting based on the number of shares available for trading (called the

free float In the context of stock markets, the public float or free float represents the portion of Share (finance), shares of a corporation that are in the hands of public investors as opposed to locked-in shares held by promoters, company officers, control ...

). This transition started in October 2005 and was completed in June 2006. Although the change is a technicality, it had a significant effect on the weighting of many companies in the index, because many companies in Japan hold a significant number of shares of their business partners as a part of intricate business alliances, and such shares are no longer included in calculating the weight of companies in the index. The TOPIX index is traded as a future on the Osaka Exchange under the ticker symbol JTPX. The CQG contract specifications for the TOPIX Index are listed below. TSE currently calculates and distributes TOPIX every second and further plans to launch a new High-Speed Index dissemination service provided at the millisecond level starting from February 28, 2011.

History

*1969-07-01　TSE to begin calculating and publishing "TOPIX" and "TOPIX Sector Indices" *1969-08-18　TSE to begin calculating and publishing "Tokyo Stock Exchange Second Section Stock Price Index" *1988-09-03　TOPIX Future Trades begin at TSE *1989-10-20　TOPIX Option Trades begin at TSE *1998-08-02　TSE to begin calculating and publishing "TOPIX New Index Series" *1999-02-01　TSE to begin calculating and publishing "TOPIX Total Return Index" *2001-07-13　TOPIX ETF Trades begin TSE *2003-08-01　TSE to begin calculating and publishing "Tokyo Stock Exchange REIT Index" *2003-09-16　TSE to begin calculating and publishing "Tokyo Stock Exchange Mothers Index" *2005-10-31 Introduction of Free Float Adjusted Indices (Shift in three phases) *2005-11-17 Lyxor AM (Lyxor Asset Management) introduces Lyxor ETF Japan (TOPIX) for trading on Euronext Paris *2006-04-05 Lyxor (Societe Generale) lists on Borsa Italiana a UCITS III compliant ETF with TOPIX as the underlying index *2006-04-25 Development of New Custom Index that incorporates Corporate Social Responsibility (CSR) *2006-06-30　Free Float adjustment for TOPIX completed *2006-08-09 TOPIX for the first time available as ETFs in Germany – Start of trading in Deutsche Borse's XTFsegment – Lyxor AM continues to expand investment universe *2007-08-21 Lyxor AM, SGX and TSE introduce first Japan ETF in Singapore based on TOPIX *2007-09-25 London Stock Exchange, Tokyo Stock Exchange, Inc. and Lyxor AM announce listing of Lyxor ETF Japan in London *2007-11-21 Standard & Poor's Launches New Shariah Index for Japan *2007-12-10 TSE begins calculating and publishing new sector indices, the "TOPIX-17 Series" *2008-02-20 Korea Exchange, Tokyo Stock Exchange, Inc. and Samsung Investment Trust Management Co., Ltd. announce listing of KODEX Japan ETF (TOPIX 100) in Seoul *2008-06-03 Lyxor AM and TSE introduce first Japan ETF in Hong Kong based on TOPIX *2008-07-25 Listing of TOPIX ETF in the US *2009-02-09 TSE to begin calculating and publishing "TOPIX Style Index Series" and "TOPIX Composite Index Series" *2009-04-01 Daily reporting of TOPIX on the

CCTV Closed-circuit television (CCTV), also known as video surveillance, is the use of closed-circuit television cameras to transmit a signal to a specific place on a limited set of monitors. It differs from broadcast television in that the signa ...

Economic Channel begins *2009-05-22 TSE to begin to offer Historical Data of TOPIX Style Index Series *2009-07-01 TOPIX celebrates 40th Anniversary *2009-11-24 TOPIX Futures to trade on NYSE Liffe beginning in the summer of 2010 *2010-03-08 TSE to begin calculation of the Tokyo Stock Exchange Dividend Focus 100 Index – a new exchange index focused on dividend yield *2010-06-18 TSE to begin calculating and publishing "Tokyo Stock Exchange REIT Property Sector Index Series" – a new index series focused on REITs' Investment Property Sectors *2010-09-13 Real-time dissemination of "Tokyo Stock Exchange REIT Property Sector Index Series" begins

Statistics (close price)

TOPIX components

TOPIX new index series

# New companies which have not been listed on the TSE for 6 months or more, out of the companies listed on the 1st section of the TSE

TOPIX 100 companies

References

External links

*
Bloomberg page for TPX:IND

(archived 25 December 2010)

(archived 26 December 2010) * TOPIX profile at Wikinvest {{Asian Stock market indexes 1967 establishments in Japan Japanese stock market indices Tokyo Stock Exchange