1. Comprehensive

Including all First Section listed shares,TOPIX provides a more comprehensive measure of stock price changes than other indices based on stock samples.

The TSE domestic stock market is divided into two sections - the First and Second Sections. In simple terms, the First Section is the market place for stocks of larger companies, and the Second Section is for those of smaller and newly listed companies.  Second Section stocks are reviewed at the end of each business year to assess whether or not they meet the criteria for transfer to the First section.  Conversely, First Section stocks may be relegated to the Second Section.  Close to 1,600 companies are now listed on the First Section, and over 500 companies on the Second Section.

2. Weighted

TOPIX is a weighted index, the market price of each component stock is multiplied by the number of shares listed. Accordingly, a price change in a stock exerts influence on the index in proportion to its relative market importance, in other words, a price change in a large, widely held stock has a greater impact on TOPIX than that of a less widely held stock.

3. Readily Available

TOPIX is computed and published every 15seconds via TSE's Market Information System. It is reported to securities companies across Japan and is available worldwide through computerized information networks.

4. The Most Appropriate Benchmark

As a comprehensive, weighted and readily available index, TOPIX is the most appropriate benchmark for evaluating portfolio performance. This is especially true for institutional investors who construct and manage diversified portfolios containing a wide range of Japanese stocks