Update : Jun. 06, 2011
[Tokyo Stock Exchange, Inc.]
The TSE and ICJ, Inc. will jointly calculate and publish the "TSE ICJ Index," whose constituents are comprised of companies listed on the Tokyo Stock Exchange that participate in the "Electronic Voting Platform" operated by ICJ, Inc.
Reductions in cross-shareholdings and other trends in the securities market in recent years have prompted expansion in the shareholdings of both domestic and foreign institutional investors. In addition, both listed companies and investors alike have grown more conscious of corporate governance in recent years, and companies are taking a more proactive stance towards the exercise of voting rights at general shareholder meetings (GSMs) through efforts such as setting guidelines for such voting.
ICJ, Inc. operates the "Electronic Voting Platform," which utilizes the latest technology to create a network for connecting parties within Japan and abroad involved in general shareholder meeting activities. By doing this, the platform acts as an integral part of the securities market infrastructure, where transmission of GSM proposal information, voting, and tabulation and circulation of voting results are conducted entirely electronically using straight-through processing.
Listed companies that participate in the "Electronic Voting Platform" can enhance shareholder services by effectively distributing information to institutional investors while monitoring GSM voting status information in real time, and provide these investors with ample time to consider proposals.
The "TSE ICJ Index" serves as an indicator for the stock price trends of those listed companies who strive to enhance corporate governance while promoting better communication with institutional investors domestic and abroad.
[TSE ICJ Index Outline]
|Name of Index||TSE ICJ Index|
|Base Date / Base Value||June 13, 2011/ 1,000 points|
|Launch Date||Friday, July 1, 2011|
|Component Issues||Issues listed on the Tokyo Stock Exchange that participate in the "Electronic Voting Platform" operated by ICJ, Inc.|
In general, additions will be made once a year during the index review (issues participating in the "Electronic Voting Platform" as of the last day of April will be added to the index at the end of May every year).
Exclusions due to delisting, etc. will be handled in the same way as TOPIX and other indices.
Free float adjusted market-capitalization weighted average method.
(Free float weights will be the same as TOPIX and other indices.)
|Index Value Publication||
Daily closing prices for the previous month are published on TSE website on the first business day of each month under “Electronic Voting Platform for Institutional Investors” on the TSE website as well as the ICJ website.