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Fukuoka Financial to replace Nikko as Nikkei 225 component.

TOKYO, Jan. 18 Kyodo

Nikkei Inc. said Friday it will delete brokerage house Nikko Cordial Corp. from the 225-issue Nikkei Stock Average upon Nikko's delisting Wednesday and include Fukuoka Financial Group Inc. into the average on Jan. 28.

Nikko will also be deleted from the Nikkei Stock Index 300 and the Nikkei 500 Stock Average upon the delisting and be replaced with Shinko Securities Co. and movie producer Toei Corp., respectively, on Jan. 28, it said.

For three days from Wednesday, each index will thus lack one component, said the economic daily publisher, which calculates and releases the indexes.

Nikko, once mired in an accounting fraud scandal, will be delisted from the Tokyo, Osaka and Nagoya stock exchanges before it becomes a wholly owned unit of U.S. financial giant Citigroup Inc. on Jan. 29.
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Publication:Japan Weekly Monitor
Date:Jan 21, 2008
Words:135
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