Calculation Method

Update : Jun. 02, 2014


Calculation Method

TSE indices are calculated by the following formula:

Calculation Method

Base Market value and base point varies depending on the index. The number of shares for index calculation is the number of listed shares multiplied by FFW.
Number of shares for index calculation = Number of listed shares for index calculation × FFW

FFW (Free-Float Weight) is a weight independently calculated by TSE that is assigned to each listed stock. FFW is used in index calculation and measures a stock's investability (distribution in the market). The FFW of two companies A and B are different if their share distribution is different.

FFW (Free-Float Weight) Leafret (Published on Jul. 23, 2004) PDF

Index Guidebook

The details of each index reference to Index guidebook.

Tokyo Stock Exchange Index Guidebook (Published on June 2, 2014) PDF
TOPIX Risk Control Index Guidebook (Published on February 7, 2012) PDF
Tokyo Stock Exchange Currency Hedged Index Guidebook (Published on August 21, 2013) PDF
Tokyo Stock Exchange Leveraged and Inverse Index Guidebook(Published on December 26, 2011) PDF
Tokyo Stock Exchange Dividend Index Guidebook (Published on October 18, 2010) PDF
Methodology Post-Cash Equity Market Merger
Market Sector Index Guidebook (Published on June 2, 2014) PDF
TOPIX Ex-Financials Guidebook (Published on June 2, 2014) PDF
JASDAQ Top-20 Index Guidebook (Published on August 13, 2013) PDF
J-Stock Index Guidebook (Published on June 2, 2014) PDF
Free-Float Weight Calculation Methodology (Published on June 6, 2013) PDF
High-Speed Index Dissemination Service
Tokyo Stock Exchange High-Speed Index Guidebook (Published on January. 14, 2011) PDF

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