ETF linked to Yomiuri 333 Listed on Tokyo Stock Exchange; Eligible for Growth Quota of NISA Tax Exemption System

The Yomiuri Shimbun
Hideo Shirota, managing director of Mitsubishi UFJ Asset Management Co., left, receives the listing notice for an exchange traded fund linked to Yomiuri 333 at the Tokyo Stock Exchange in Chuo Ward, Tokyo, on Thursday morning.

An exchange traded fund, or ETF, linked to the Yomiuri Stock Index (Yomiuri 333) was listed on the Tokyo Stock Exchange on Thursday. It is hoped that this will contribute to the nation’s asset management capabilities by expanding investment options in Japanese equities.

Mitsubishi UFJ Asset Management Co. (Mitsubishi UFJAM), a major asset management company, created and listed the “Yomiuri 333 Japan stock ETF” under the “MAXIS” ETF series. The fund is eligible for the growth investment quota of the NISA, a tax exemption system for small investments.

At a ceremony held on Thursday morning at the Tokyo Stock Exchange in Chuo Ward, Tokyo, officials from Mitsubishi UFJAM and The Yomiuri Shimbun rang a bell to celebrate the listing. Hideo Shirota, managing director of Mitsubishi UFJAM, said, “We hope Yomiuri 333 will grow to become the third index following TOPIX [Tokyo Stock Price Index] and the Nikkei Stock Average.”

The Yomiuri 333 is composed of 333 leading Japanese companies. It is based on a calculation method called “equal weighting,” which incorporates the fluctuations of the stock prices of the 333 companies equally and shows the average of their price movements.

A financial product linked to Yomiuri 333 already went on sale on Wednesday at major online securities companies, including SBI Securities Co., Rakuten Securities, Inc. and Monex, Inc. It can also be purchased at Mitsubishi UFJAM.

The product is an investment trust named the “domestic stocks [Yomiuri 333]” of the “eMAXIS Slim” investment trust series from Mitsubishi UFJAM, which is also eligible for the growth investment quota of the NISA. This series has become popular because of its relatively low fees, making it easy for beginners to start investing.