Nikkei Asia BusinessCodex · 实盘不做把握 7/10
北京时间·源无时间·以抓取为准·⟳ 抓取 18:06:34·⚡ 决策 08-07 18:07:50 +1m16s·81.1 天前
JPX-Nikkei 400年度换样：T&D控股、古河电工等纳入，KDDI、朝日集团等剔除
这是年度指数成分股例行调整，纳入45只、剔除39只，属于可预期的指数维护事件而非公司基本面催化。
📄 原文Nikkei Asia Business↗ 原文
T&D Holdings, Furukawa Electric to join JPX-Nikkei 400 in annual reshuffle
TOKYO -- Nikkei and JPX Market Innovation & Research said Friday they will revise the components of the JPX-Nikkei Inde…
不做 T&D控股（8795.JP）
年度指数例行纳入，缺少基本面增量且生效日较远，被动资金冲击不够明确，不做。
不做 古河电工（5801.JP）
年度指数例行纳入，缺少基本面增量且生效日较远，正文未给出可量化资金冲击，不做。
不做 KDDI（9433.JP）
指数剔除偏负面但属于年度例行换样，KDDI市值大、被动卖压相对市值难形成强空催化，不做。
不做 朝日集团控股（2502.JP）
指数剔除偏负面但属于年度例行换样，缺少强公司级净损害或可执行做空edge，不做。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
🔎 新鲜度:最早出现 2026-08-07 · 扩散 medium · price-in 风险 medium ↗
关键理由
- 这是年度指数成分股例行调整，纳入45只、剔除39只，属于可预期的指数维护事件而非公司基本面催化。
- JPX-Nikkei 400并非核心宽基指数，单只成分股被动资金冲击通常弱于日经225/TOPIX换样，短线edge不足。
- 事件盘后披露且生效日为2026-08-31，资金有充分时间消化，难以形成隔夜确定性交易。
主要风险
- 若部分小市值纳入股对应被动买盘占流通盘较高，可能出现局部事件交易，但正文只点名的大盘标的弹性不足。
原文全文
展开原文 · 771 字
TOKYO -- Nikkei and JPX Market Innovation & Research said Friday they will revise the components of the JPX-Nikkei Index 400 and the JPX-Nikkei Mid and Small Cap Index as part of their annual review.
The JPX-Nikkei 400 will add 45 stocks, including T&D Holdings and Furukawa Electric, while removing 39, such as KDDI and Asahi Group Holdings.
The JPX-Nikkei Mid and Small Cap Index will add 49 stocks and remove 43.
In both indexes, the number of deletions is smaller than that of additions because some constituents had been excluded since the previous annual reshuffle.
The changes will take effect with the Aug. 31 calculation. The annual reviews of both indexes are conducted at the end of August every year.
For more details, please visit the Nikkei indexes website.
The JPX-Nikkei 400 will add 45 stocks, including T&D Holdings and Furukawa Electric, while removing 39, such as KDDI and Asahi Group Holdings.
The JPX-Nikkei Mid and Small Cap Index will add 49 stocks and remove 43.
In both indexes, the number of deletions is smaller than that of additions because some constituents had been excluded since the previous annual reshuffle.
The changes will take effect with the Aug. 31 calculation. The annual reviews of both indexes are conducted at the end of August every year.
For more details, please visit the Nikkei indexes website.
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