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The eBearing News
September 8, 2004
Nachi Dropped from
Nikkei 225 stock average
copyright © 2004 eBearing Inc.
Nachi Fujikoshi Corp. (Japan) will be removed from the Nikkei 225 Stock Average, said Nihon Keizai
Shimbun Inc. (Japan).
The 55-year-old Japanese stock barometer is changing three stocks, effective October 1, 2004, in an
effort to make the index a better reflection of the growing importance of consumer spending in Japan.
Nachi-Fujikoshi is a major manufacturer of bearings and tools.
Being removed are Nachi-Fujikoshi, Nippon Sharyo Ltd. -- a manufacturer of freight equipment, and
Mercian Corp. -- the country's largest winemaker.
Replacing the three are Softbank Corp. -- Japan's largest internet service provider, Dentsu, Inc. -- Japan's
largest advertising agency, and Nippon Meat Packers Inc. -- Japan's largest meat processor.
The realignment is important for the six companies because investors and funds keyed to the Nikkei 225 will
be selling off the three being dropped and buying the three added.
Nihon Kezai's review and decision process begins by identifying the top 450 stocks in terms of 5-year
moving average price volatility (less is better) and tracing activity (more is better). The top 75
stocks by this combined measure are then reviewed by Nihon Keizai and rated for how well they reflect the
Japanese economy as a whole.
Lackluster trading activity, on top of its industrial and manufacturing slant, worked against
Nachi-Fujikoshi, said Nihon Keizai.
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- by Bruce A. Carr
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Unauthorized reproduction is prohibited.
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eBearing.com ... for everything that moves™
Entire contents Copyright 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered
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eBearing.com ... for everything that moves™
Entire contents Copyright © 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered trademarks of eBearing Inc.
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