Governance - Nikkei Indexes

<!doctype html> <html lang="en"> <head> <meta charset="utf-8"> <meta name="viewport" content="width=device-width, initial-scale=1"> <meta property="og:site_name" content="Nikkei Indexes"> <meta property="og:title" content="Nikkei Indexes"> <meta property="og:description" content="The Nikkei Indexes provide the information regarding all of the indexes calculated by Nikkei Inc., represented by Nikkei Stock Average."> <meta property="og:type" content="website"> <meta property="og:url" content="https://indexes.nikkei.co.jp/nkave"> <meta property="og:image" content="#"> <link rel="canonical" href="https://indexes.nikkei.co.jp/nkave"> <meta name="description" content="The Nikkei Indexes provide the information regarding all of the indexes calculated by Nikkei Inc., represented by Nikkei Stock Average."> <meta name="keywords" content="Nikkei,225,index,indices"> <title>Governance - Nikkei Indexes</title> <link href="/nkave/assets/bootstrap.min.css" rel="stylesheet"> <link href="/nkave/assets/style.css" rel="stylesheet"> <link href="/nkave/assets/bootstrap-icons.css" rel="stylesheet"> <link href="/nkave/assets/kite-color.css" rel="stylesheet"> <link href="/nkave/assets/style-extend-bootstrap-style.css" rel="stylesheet"> <link href="/nkave/assets/style-common-parts.css" rel="stylesheet"> <link href="/nkave/assets/style-global.css" rel="stylesheet"> <link href="/nkave/assets/style-icon.css" rel="stylesheet"> <style> body{font-family: sans-serif;} </style> </head> <body> <div class="idx-en">  <nav class="navbar navbar-expand-lg idx-sidebar sticky-top"> <div class="container-fluid px-0"> <button class="navbar-toggler" type="button" data-bs-toggle="offcanvas" data-bs-target="#gNav" aria-controls="offcanvasNavbar"> <span class="navbar-toggler-icon"></span> </button>  <div class="idx-brand"> <a class="navbar-brand" href="/en/nkave">Nikkei Indexes</a> <p class="idx-tagline">-Nikkei 225 Official Site-</p> </div> <div class="offcanvas offcanvas-start" tabindex="-1" id="gNav" aria-labelledby="gNavLabel">  <div class="offcanvas-header"> <h5 class="offcanvas-title" id="gNavLabel">Nikkei Indexes</h5> <button type="button" class="btn-close" data-bs-dismiss="offcanvas" aria-label="Close"></button> </div>  <div class="offcanvas-body"> <ul class="navbar-nav justify-content-end idx-gnav"> <li class="nav-item"><p class="label">Resources</p></li> <li class="nav-item"><a class="nav-link " href="/en/nkave/newsroom"><i class="idx-icon icon-news"></i>News&Release</a></li> <li class="nav-item"> <div class="nav-item has-sub"> <span class="nav-link "> <i class="idx-icon icon-index"></i><span>Index List</span> </span> <ul class="nav-subnav"> <li class="nav-item"><a class="nav-link " href="/en/nkave/index?type=index">Current Values</a></li> <li class="nav-item"><a class="nav-link " href="/en/nkave/index?type=download">Download Center</a></li> </ul> </div> </li> <li class="nav-item"> <div class="nav-item has-sub"> <span class="nav-link "> <i class="idx-icon icon-archive"></i><span>Nikkei 225 Archives</span> </span> <ul class="nav-subnav"> <li class="nav-item"><a class="nav-link " href="/en/nkave/archives/summary">Daily Summary</a></li> <li class="nav-item"><a class="nav-link " href="/en/nkave/archives/data">Historical Data in Nikkei 225</a></li> <li class="nav-item"><a class="nav-link " href="/en/nkave/archives/record">Records in Nikkei 225</a></li> <li class="nav-item"><a class="nav-link " href="/en/nkave/archives/calendar">Winning rate of the day</a></li> <li class="nav-item"><a class="nav-link " href="/en/nkave/faq/chronology.html">Chronology</a></li> </ul> </div> </li> <li class="nav-item"><a class="nav-link" href="/en/nkave/index/search"><i class="idx-icon icon-search"></i>Index Stock Finder</a></li> <li class="nav-item"><a class="nav-link active" href="/en/nkave/governance/"><i class="idx-icon icon-governance"></i>Governance</a></li> <li class="nav-item"><p class="label">Utilization</p></li> <li class="nav-item"><a class="nav-link" href="/en/nkave/license/"><i class="idx-icon icon-license"></i>License</a></li> <li class="nav-item"><a class="nav-link" href="/en/nkave/data/"><i class="idx-icon icon-data"></i>Index Data</a></li> <li class="nav-item"><p class="label">Support</p></li> <li class="nav-item"><a class="nav-link" href="/en/nkave/faq/"><i class="idx-icon icon-faq"></i>FAQ</a></li> <li class="nav-item"><a class="nav-link" href="/en/nkave/contact/"><i class="idx-icon icon-contact"></i>Contact</a></li> </ul>  <div class="idx-member" id="member"> <a class="idx-member-link" href="/en/nkave/service"><i class="idx-icon icon-lock"></i> For Subscribers</a> </div> </div> </div>  <div class="idx-lang-md"> <ul class="lang-switcher lang-md"> <li class="lang-switcher-item active"><span>EN</span></li> <li class="lang-switcher-item"><a href="/cz/nkave/index/profile" class="lang-switcher-link"><span>CN</span></a></li> <li class="lang-switcher-item"><a href="/nkave" class="lang-switcher-link"><span>JA</span></a></li> </ul> </div> </div> </nav>  <div class="idx-main"> <nav class="idx-topbar"> <div class="container-fluid d-flex justify-content-between align-items-center">  <ol class="breadcrumb mb-0"> <li class="breadcrumb-item"><a href="/en/nkave/">Top</a></li> <li class="breadcrumb-item active" aria-current="page">Governance</li> </ol>  <div class="idx-lang-lg"> <ul class="lang-switcher lang-lg"> <li class="lang-switcher-item active"> <span>English</span> </li> <li class="lang-switcher-item"> <a href="/cz/nkave/index/profile" class="lang-switcher-link"><span>簡体中文</span></a> </li> <li class="lang-switcher-item"> <a href="/nkave/" class="lang-switcher-link"><span>日本語</span></a> </li> </ul> </div>  </div> </nav>  <header class="idx-header"> <div class="idx-header-pagetitle"> <div class="container-fluid"> <h1 class="idx-header-headding d-flex align-items-center"> <i class="idx-icon icon-governance"></i>Governance</h1> </div> </div>  <div class="container-fluid"> <div class="idx-localnav"> <ul class="nav"> <li class="nav-item"><a class="nav-link active" aria-current="page" href="#governance-management">Regarding the management</a></li> <li class="nav-item"><a class="nav-link" href="#governance-policy">Policy Documents</a></li> <li class="nav-item"><a class="nav-link" href="#governance-consultation">Consultation</a></li> </ul> </div> </div> </header> <main class="flex-lg-1 h-screen"> <section class="idx-section"> <div class="container-fluid idx-container-thin"> <a name="governance-management" id="governance-management"></a> <h2 class="idx-section-heading">Regarding the management of the Nikkei 225 and other Nikkei indexes</h2> <p>The Indexes calculated and provided by Nikkei Inc. are managed by the set of rules open to the public and characterized as highly transparent. They are based on the stock prices from the regulated exchanges and calculated automatically by computer programs so that the indexes are not influenced by discretion or judgment. The Nikkei Indexes are administered by the Index Business Office, an independent division in Nikkei, in accordance with the policies of operations. Conflicts of interest are eliminated, and the indexes are highly reliable and accountable. Its administration complies with the Principles for Financial Benchmarks by the International Organization of Securities Commissions ("IOSCO Principles"). IOSCO Principles compliance report as audited by an independent third party has been published since 2019 as shown below.</p> <ul> <li><a class="idx-u-page-link" target="_blank" href="#" data-bs-toggle="modal" data-bs-target="#idx-modal">Report of Compliance with the IOSCO Principles</a></li> <li><a class="idx-u-page-link" target="_blank" href="/nkave/archives/file/index_third_parties_en.pdf" onclick="_gaq.push(['_trackEvent', 'governance_EN', '.PDF', 'index_third_parties_en.pdf'])">Third parties in index calculation</a></li> </ul> <p>In addition to complying with the IOSCO Principles, Nikkei is recognized as a third country benchmark administrator under Article 32 of the EU Benchmarks Regulation. Nikkei Indexes are listed in the ESMA Register as third country benchmarks and can continue to be used in financial instruments.</p> <ul> <li><a class="idx-u-page-link" target="_blank" href="/nkave/archives/file/Nikkei_Benchmark_Statement.pdf" onclick="_gaq.push(['_trackEvent', 'governance_EN', '.PDF', 'Nikkei_Benchmark_Statement.pdf'])">Benchmark Statement as required by EU BMR</a></li> <li><a class="idx-u-page-link" target="_blank" href="/nkave/archives/file/Nikkei_Compliance_Statement.pdf" onclick="_gaq.push(['_trackEvent', 'governance_EN', '.PDF', 'Nikkei_Compliance_Statement.pdf'])">Compliance Statement as required by EU BMR</a></li> <li><a class="idx-u-page-link" target="_blank" href="/nkave/archives/file/Nikkei_Methodology_ESG_Factor.pdf" onclick="_gaq.push(['_trackEvent', 'governance_EN', '.PDF', 'Nikkei_Methodology_ESG_Factor.pdf'])">Disclosure of ESG factors in Methodology</a></li> </ul> </div> </section> <section class="idx-section"> <div class="container-fluid idx-container-thin"> <a name="governance-policy" id="governance-policy"></a> <h2 class="idx-section-heading">Policy Documents</h2> <p>Nikkei Inc. establishes and publishes the policies for administration of the Nikkei Indexes. Each policy is available below.</p> <ul> <li><a class="idx-u-page-link" target="_blank" href="/nkave/archives/file/policy_general_en.pdf" onclick="_gaq.push(['_trackEvent', 'support_EN', '.PDF', 'policy_general_en.pdf'])">General Policies for Nikkei Index Administration</a></li> <li><a class="idx-u-page-link" target="_blank" href="/nkave/archives/file/policy_trans_en.pdf" onclick="_gaq.push(['_trackEvent', 'support_EN', '.PDF', 'policy_trans_en.pdf'])">Policies for Nikkei Index Cessation and Transition</a></li> <li><a class="idx-u-page-link" target="_blank" href="/nkave/archives/file/policy_claim_en.pdf" onclick="_gaq.push(['_trackEvent', 'support_EN', '.PDF', 'policy_claim_en.pdf'])">Policies for Nikkei Index Complaints Procedures</a></li> </ul> </div> </section> <section class="idx-section"> <div class="container-fluid idx-container-thin"> <a name="governance-consultation" id="governance-consultation"></a> <h2 class="idx-section-heading">Consultation</h2> <p>Nikkei consults users of its benchmark indexes on important issues, such as significant change in its index methodology. In consultation process Nikkei publishes planned changes and invites feedback to further enhance quality of its indexes. For the detail, please refer to "Procedures for the Consultation of the Nikkei Indexes" below.</p> <div class="idx-consultation"> <p>To browse details, please read and agree to the following procedure and privacy policy.</p> <ul class=""> <li><a class="idx-u-link" target="_blank" href="/nkave/archives/file/procedures_for_nikkei_indexes_consultation_en.pdf" onclick="_gaq.push(['_trackEvent', 'support_EN', '.PDF', 'procedures_for_nikkei_indexes_consultation_en_pdf'])">Procedures for the Consultation of the Nikkei Indexes</a></li> <li><a class="idx-u-link" target="_blank" href="https://www.nikkei.co.jp/nikkeiinfo/en/privacy/">Nikkei's privacy policy</a></li> </ul> <div class="form-check"> <input class="form-check-input" type="checkbox" value="" name="consentCheck" id="consentCheck" onclick="checkBoxCheck();"> <label class="form-check-label" for="consentCheck">I agree with Nikkei's privacy policy and participate in the following consultations.</label> </div> <div class="idx-consultation-list disable" id="consultationList">  <div class="consultation-item shadow-sm"> <h3 class="title">Index Consultation Regarding the Introduction of the “Stepwise Addition” and Changes to the “Technical Listing” Rules of the Nikkei Stock Average</h3> <p>Application period : May 10, 2023 – Jun 12, 2023<span class="expiration"> [Closed]</span></p> <div class="idx-ui-group"> <a class="btn btn-outline-primary" target="_blank" href="https://indexes.nikkei.co.jp/nkave/archives/news/20230510E_1.pdf" role="button">Detail</a> <a class="btn btn-outline-primary disabled" href="#" role="button">Submit</a> </div> </div>  <div class="consultation-item shadow-sm"> <h3 class="title">Index Consultation Regarding the Introduction of the “Weighting cap” on the constituents of the Nikkei Stock Average, and others</h3> <p>Application period : May 23, 2022 – Jun 27, 2022<span class="expiration"> [Closed]</span></p> <div class="idx-ui-group"> <a class="btn btn-outline-primary" target="_blank" href="https://indexes.nikkei.co.jp/nkave/archives/news/20220523E_1.pdf" role="button">Detail</a> <a class="btn btn-outline-primary disabled" href="#" role="button">Submit</a> </div> </div>  <div class="consultation-item shadow-sm"> <h3 class="title">Index Consultation Regarding the Extraordinary Replacement Rules of the Nikkei Stock Average</h3> <p>Application period : May 10, 2021 – Jun 13, 2021<span class="expiration"> [Closed]</span></p> <div class="idx-ui-group"> <a class="btn btn-outline-primary" target="_blank" href="https://indexes.nikkei.co.jp/nkave/archives/news/20210510E_1.pdf" role="button">Detail</a> <a class="btn btn-outline-primary disabled" href="#" role="button">Submit</a> </div> </div>  <div class="consultation-item shadow-sm"> <h3 class="title">Index Consultation Regarding the Extraordinary Replacement Rules of the Nikkei Stock Average</h3> <p>Application period : May 11, 2020 – Jun 8, 2020<span class="expiration"> [Closed]</span></p> <div class="idx-ui-group"> <a class="btn btn-outline-primary" target="_blank" href="https://indexes.nikkei.co.jp/nkave/archives/news/20200511E_2.pdf" role="button">Detail</a> <a class="btn btn-outline-primary disabled" href="#" role="button">Submit</a> </div> </div>   </div> </div> </div> </section> </main>  <aside class="idx-section idx-bg-gray"> <div class="container-fluid"> <div class="idx-application"> <div class="row row-cols-1 row-cols-md-2 g-3"> <div class="col"> <div class=""> <h2 class="idx-application-title">Guide to make better use of the Nikkei Indexes</h2> </div> </div> <div class="col"> <div class=""> <h3 class="idx-application-subtitle">The most trusted gauge of the stock markets</h3> <p class="idx-application-text">Nikkei Inc. has developed and calculated its own indexes from various perspective, looking at changes in society and markets. Nikkei Stock Average, the premier and flagship index of Japanese stocks, and other Nikkei Indexes are widely used globally as representative indicators of the Japanese equity market, and financial products linked to the Nikkei Indexes are traded around the world.</p> </div> </div> <div class="col"> <div class="card shadow-sm h-100 align-items-center"> <img src="/nkave/assets/contract.png" class="card-img-top" alt="License Agreement"> <div class="card-body"> <h3 class="card-title">License Agreement</h3> <p class="card-text">Nikkei retains all intellectual property rights to the Nikkei Stock Average and other Nikkei Indexes. In addition to displaying the data on our website and mobile apps, Nikkei guides information on approval procedures for different usage patterns, including display and non-display usage of the indexes, and creation of financial instruments on the indexes.</p> <a href="/en/nkave/license/" class="btn btn-primary">More details</a> </div> </div> </div> <div class="col"> <div class="card shadow-sm h-100 align-items-center"> <img src="/nkave/assets/data_provision.png" class="card-img-top" alt="Provision of index data"> <div class="card-body"> <h3 class="card-title">Provision of index data</h3> <p class="card-text">This section provides information on the procedures for using basic data in business use such as index constituents stock prices, dividends and weights, which are indispensable for calculating the Nikkei Stock Average, for business use.</p> <a href="/en/nkave/data/" class="btn btn-primary">More details</a> </div> </div> </div> <div class="col"> <div class="card shadow-sm h-100"> <div class="card-body"> <h3 class="card-title">FAQ</h3> <p class="card-text">Here you will find answers to your questions about the Nikkei Stock Average and other Nikkei Indexes, as well as licensing agreements and use of this site.</p> <a href="/en/nkave/faq/" class="btn btn-primary">View all FAQ</a> </div> </div> </div> <div class="col"> <div class="card shadow-sm h-100"> <div class="card-body"> <h3 class="card-title">Contact us</h3> <p class="card-text">Please contact us here for any questions about the Nikkei Indexes, your interest in using the Nikkei Indexes for business purposes and/or any comments about this site.</p> <a href="/en/nkave/contact/" class="btn btn-primary">Contact us from here</a> </div> </div> </div> </div> </div> </div> </aside>  <footer class="idx-footer"> <nav class="idx-footer-gnav"> <ul class="idx-list"> <li class="list-item"><a class="list-link" href="/en/nkave/newsroom">News&Release</a></li> <li class="list-item has-sub"> <a class="list-link" role="button" data-bs-toggle="button" style="text-decoration: none;">Index List</a> <div class="sub-item"> <ul> <li class="list-item"><a class="list-link" href="/en/nkave/index?type=index">Current Values</a></li> <li class="list-item"><a class="list-link" href="/en/nkave/index?type=download">Download Center</a></li> </ul> </div> </li> <li class="list-item has-sub"> <a class="list-link" role="button" data-bs-toggle="button" style="text-decoration: none;">Nikkei 225 Archives</a> <div class="sub-item"> <ul> <li class="list-item"><a class="list-link" href="/en/nkave/archives/summary">Daily Summary</a></li> <li class="list-item"><a class="list-link" href="/en/nkave/archives/data">Historical Data in Nikkei 225</a></li> <li class="list-item"><a class="list-link" href="/en/nkave/archives/record">Records in Nikkei 225</a></li> <li class="list-item"><a class="list-link" href="/en/nkave/archives/calendar">Winning rate of the day</a></li> <li class="list-item"><a class="list-link" href="/en/nkave/faq/chronology.html">Chronology</a></li> </ul> </div> </li> <li class="list-item"><a class="list-link" href="/en/nkave/index/search">Index Stock Finder</a></li> <li class="list-item"><a class="list-link" href="/en/nkave/governance/">Governance</a></li> <li class="list-item"><a class="list-link" href="/en/nkave/license/">License</a></li> <li class="list-item"><a class="list-link" href="/en/nkave/data/">Index Data</a></li> <li class="list-item"><a class="list-link" href="/en/nkave/faq/">FAQ</a></li> <li class="list-item"><a class="list-link" href="/en/nkave/contact/">Contact</a></li> </ul> </nav> <nav> <ul class="idx-list idx-lg-list-flat idx-list-col-2"> <li class="list-item"><a class="list-link" href="/en/nkave/sitemap">Sitemap</a></li> <li class="list-item"><a class="list-link" href="/nkave/archives/file/terms_of_use_en.pdf" onclick="_gaq.push(['_trackEvent', 'TOP_EN', '.PDF', 'terms_of_use_en.pdf'])" target="_blank">Term of Use</a></li> <li class="list-item"><a class="list-link" href="https://www.nikkei.com/lounge/privacy/cookie/optout.html#nikkeipdp">Information Transmission</a></li> <li class="list-item"><a class="list-link" href="/nkave/archives/file/users_guide_en.pdf" onclick="_gaq.push(['_trackEvent', 'TOP_EN', '.PDF', 'users_guide_en.pdf'])" target="_blank">User's Guide</a></li> <li class="list-item"><a class="list-link" href="http://asia.nikkei.com/">Nikkei Asia <i class="bi bi-box-arrow-up-right"></i></a></li> <li class="list-item"><a class="list-link" href="https://www.nikkei.co.jp/nikkeiinfo/en/">Nikkei Inc. <i class="bi bi-box-arrow-up-right"></i></a></li> </ul> </nav> <p class="idx-copyright"> <span class="idx-copyright-brand"><img src="/nkave/assets/cmn_logo_nikkei_01.svg" alt="Nikkei Inc."></span> <span>No reproduction without permission.</span> </p> </footer>  <div class="idx-back-to-top"> <a class="idx-back-to-top-link" href="#"><i class="bi bi-arrow-up"></i></a> </div> </div> </div>  <div class="modal fade" id="idx-modal" tabindex="-1" aria-labelledby="ModalLabel" aria-hidden="true"> <div class="modal-dialog"> <div class="modal-content"> <div class="modal-header"> <h1 class="modal-title fs-5" id="staticBackdropLabel">Disclaimers</h1> <button type="button" class="btn-close" data-bs-dismiss="modal" aria-label="Close"></button> </div> <div class="modal-body"> <ul> <li>This report (the "Report") is prepared to provide information regarding compliance of the indexes calculated and provided by Nikkei Inc. with the "Principles for Financial Benchmarks" by the International Organization of Securities Commissions (IOSCO). The recipient of the Report is responsible for the use of this Report and Nikkei assumes no responsibility.</li> <li>The recipient of this Report shall not reproduce and/or reprint without prior consent of Nikkei.</li> <li>This Report is originally prepared in Japanese. The English version is provided for reference purposes. When and if there is a discrepancy between the Japanese and the English versions, the Japanese version should be considered the definitive document.</li> </ul> </div> <div class="modal-footer"> <p class="w-100 text-center"><a target="_blank" href="/nkave/archives/file/nikkei_iosco_compliance_en.pdf" onclick="_gaq.push(['_trackEvent', 'support_EN', '.PDF', 'Nikkei_iosco_compliance_2023_en.pdf'])">I agree to the above and refer to the report.</a></p> </div> </div> </div> </div>  <script src="/nkave/assets/bootstrap.bundle.min.js"></script> <script> // tooltip const tooltipEl = document.getElementById('consultationList'); const tooltip = new bootstrap.Tooltip(tooltipEl, { title:"Please mark the checkbox above to view the details"}); // checkBox function checkBoxCheck() { let elem = document.getElementById("consentCheck"); let target = document.getElementById("consultationList"); if(elem.checked){ target.classList.remove("disable"); tooltip.disable(); } else { target.classList.add("disable"); tooltip.enable(); } } </script> <script type="text/javascript"> var _gaq = _gaq || []; _gaq.push(['_setAccount', 'UA-28645102-1']); _gaq.push(['_gat._anonymizeIp']); _gaq.push(['_trackPageview']); (function() { var ga = document.createElement('script'); ga.type = 'text/javascript'; ga.async = true; ga.src = ('https:' == document.location.protocol ? 'https://ssl' : 'http://www') + '.google-analytics.com/ga.js'; var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(ga, s); })(); </script> </body> </html>

CINXE.COM

Governance - Nikkei Indexes