Nomura Shareholder Returns 70: Index Rulebook
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Key Points
- The pool comprises the top 98% of Japanese exchange-listed stocks by free-float adjusted market capitalization.
- Liquidity screening requires ranking within the top 500 by average daily trading value in the universe.
- Net shareholder return yield incorporates dividends, buybacks and capital increases.
Methodology
Selection proceeds from pool screening (top 98% market cap, excluding financials) through liquidity and capitalization filters (top 85% by market cap; top 500 by trading value), then ranking by net shareholder return yield to select the top 70 names, weighted by free-float capitalization with the 2% cap.
Outlook
The index reconstitutes annually, and rules for removing stocks placed under "special alert" status take effect from the February 2027 reconstitution. The report lists no specific recommendations.