Nikkei and JPX Market Innovation & Research announced that consumer lender Aiful will be removed from the JPX-Nikkei Index 400, effective April 1, 2026, following its transition to a holding company structure [1]. As part of this change, Aiful will be delisted from the Tokyo Stock Exchange on March 30, 2026 [1]. Muninova Holdings, a newly established holding company, will be listed on the Tokyo Stock Exchange and will replace Aiful as a constituent stock of the JPX-Nikkei Index 400 [1].
The index will be calculated using Aiful's final market capitalization as of March 27, 2026, for the period covering March 30 and March 31 [1]. No specific figures regarding market capitalization, share price, or trading volumes were provided in the article [1].
The announcement did not include any forward-looking statements or analyst opinions regarding the impact of this change on the index or the broader market [1]. Market implications are limited to the replacement of Aiful with Muninova Holdings in the index, which may affect index-tracking funds and investors [1].
CONCLUSION
Aiful will be removed from the JPX-Nikkei Index 400 and delisted from the Tokyo Stock Exchange, with Muninova Holdings taking its place as a constituent stock. The index calculation will use Aiful's final market capitalization as of March 27, 2026. The announcement provides no further details on market reaction or analyst commentary.