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The Yomiuri Shimbun announced Thursday it would publish details of the Yomiuri Stock Index (Yomiuri 333), a benchmark comprising 333 companies, at 3:33 p.m. on Monday, March 3. It also plans to reveal on Monday the start date for calculating and publishing the index, which had previously been announced to start in March.
The Yomiuri 333 is a stock price index that indicates trends in the market, as is the case with the Tokyo Stock Price Index (TOPIX) and the Nikkei Stock Average (Nikkei 225). The unit of measurement for the new index will be the Japanese yen. The rule for selection in the new index focuses on the top 333 companies listed on domestic exchanges, based on trading value and free-float adjusted market capitalization.
The equal-weight calculation method, which incorporates the share prices of all 333 issues in the same ratio, will be used. The equal-weight stock price index is rare in Japan. It is less susceptible to the movement of corporations with large market capitalizations or specific companies with high share prices.
