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JPX group companies undertake various initiatives and disseminate information with the aim of providing the most attractive markets to all users.
Every month, we showcase the highlights of these efforts in short and concise summaries just for you.
Oct. 4th is "Investment Day" in Japan as "10-4" can be pronounced in a similar way to the word for "investment" in Japanese. This year marked the 20th anniversary since that date was designated as Investment Day, and various events are being held across the country in October and November. TSE Arrows welcomed two visitors: 1) Toushi-kun, a costume mascot for an industry project that aims to forge a deeper understanding of securities and 2) Yoshida-kun, a character from the anime series Secret Society Eagle Talon. They learned about the history of TSE Arrows, tickers, and more, as well as hearing all about the special good-luck charm from the nearby Kabuto Shrine. On Nov. 5th, a seminar will be held in Shibuya exclusively for young people. Our staff will present in this program.
The J-REIT market marks its 15th year this year. To celebrate the anniversary, we held a symposium in conjunction with the Association for Real Estate Securitization (ARES) on Oct. 13, 2016. Under the theme of development of and challenges in the economy and society of Japan, this symposium reflected on what kind of role J-REIT has played in society. With viewpoints from promising growth areas, the panel engaged in a wide-ranging discussion and looked to further development of the J-REIT market. A special website, "J-REIT view" (only available in Japanese), also introduces market information and investment products of J-REITs through videos. Group CEO Kiyota said in a special interview on the website, "The concept of fiduciary duties involves expectations for creating new horizons for J-REIT while pursuing greater transparency and growing steadily without remaining complacent about past performance or status quo. TSE will work with market participants to continue its efforts to realize further development of the J-REIT market".
TSE and Nikkei Inc. (Nikkei) have agreed to launch a new stock index "JPX-Nikkei Mid and Small Cap index" (tentative name). Both parties aim to commence the index calculation by the end of March 2017. The new index, comprised of mid and small cap stocks, is based on the same concept as JPX-Nikkei Index 400, where constituents are stocks of "companies that are highly appealing to shareholders". Therefore, companies that focus on capital efficiency and investor-oriented management will be selected. TSE and Nikkei aim to instill such mindset to a wider range of companies while they meet the needs of investors looking to invest in such companies. When selecting issues, TSE and Nikkei will also consider the liquidity of each issue so as to facilitate the actual use of the new index in asset management.
On Oct. 28, JPX released it earnings report of the consolidated financial results for Q2 FY2016. Operating revenue was down JPY 5 billion (8.7%) year-on-year to JPY 52.8 billion due mainly to a decrease in revenues from trading services. Operating expenses were up JPY 2.2 billion (9.8%) year-on-year to JPY 25.5 billion due mainly to an increase in depreciation and amortization in connection with accelerated depreciation of the old J-Gate derivatives trading system. As a result, operating income decreased JPY 7 billion (19.9%) to JPY 28.2 billion with net income (attributable to owners of the parent company) down 4.2 billion (17.9%) to JPY 19.5 billion. Looking at the full year forecast, while operating revenue will be lowered in light of recent market conditions, operating expenses will also be reduced. As a result, forecasts for operating income and net income, as well as per-share dividend, remain unchanged.
