Trading Rules of Domestic Stocks
The price increment at which an order to buy or sell is placed is called the tick size. Tick sizes are shown in the table below, depending on the issue to be traded and the price level of the issue.
TOPIX500 Constituents (TOPIX100 and TOPIX Mid400 Constituents)
| Price per share (yen) | Tick Size (yen) | |
| up to | 1,000 | 0.1 |
| up to | 3,000 |
0.5 |
| up to | 10,000 | 1 |
| up to | 30,000 | 5 |
| up to | 100,000 | 10 |
| up to | 300,000 | 50 |
| up to | 1,000,000 | 100 |
| up to | 3,000,000 | 500 |
| up to | 10 million | 1,000 |
| up to | 30 million | 5,000 |
| over | 30 million | 10,000 |
- ･Also applied to ETFs, ETNs, and leveraged products with a trading unit of 10 or above.
ETFs, etc. with a trading unit of one unit (ETFs, ETNs, and leveraged products)
| Price per share (yen) | Tick Size (yen) | |
| up to | 10,000 | 1 |
| up to | 30,000 | 5 |
| up to | 100,000 | 10 |
| up to | 300,000 | 50 |
| up to | 1,000,000 | 100 |
| up to | 3,000,000 | 500 |
| up to | 10 million | 1,000 |
| up to | 30 million | 5,000 |
| over | 30 million | 10,000 |
Other Issues
| Price per share (yen) | Tick Size (yen) | |
| up to | 3,000 | 1 |
| up to | 5,000 | 5 |
| up to | 30,000 | 10 |
| up to | 50,000 | 50 |
| up to | 300,000 | 100 |
| up to | 500,000 | 500 |
| up to | 3 million | 1,000 |
| up to | 5 million | 5,000 |
| up to | 30 million | 10,000 |
| up to | 50 million | 50,000 |
| over | 50 million | 100,000 |
Tick Size Changes Effective March 1, 2027
Effective March 1, 2027, the methodology for determining applicable tick sizes will be changed from the current index classification-based approach (whether an issue is a TOPIX 500 constituent) to a liquidity-based approach, under which tick sizes are determined based on the liquidity of each issue, as measured by the Spread-to-Tick Ratio (STR).
The revised tick size tables are shown below.
For further details regarding the rules and operational procedures, please refer to “Implementation Arrangements for the Further Optimization of Tick Sizes”.
| Implementation Arrangements for the Further Optimization of Tick Sizes |  |
|---|---|
| (Ref.)About STR | |