The Nikkei ESG-REIT Index is a REIT index comprised of the REITs listed on the Tokyo Stock Exchange weighted by “Market Capitalization Weight adjusted by ESG Factor Methodoloy”. The ESG factor is based on the ESG evaluation rating by GRESB.
All REITs listed on the Tokyo Stock Exchange are eligible. However, The REITs with low liquidity are excluded.
The constituents are changed at the end of November as a result of the Periodic Review once a year.
The index is calculated by summing up the constituent share prices multiplied by the Weight Factors, and dividing the summation by the Divisor. The Weight Factor is determined by the number of issued shares and ESG factor. The number of shares issued shall be revised in February, May, August and November. The ESG factor shall be revised in November.
The commencement date of the calculation is July 20th 2020, which has been retroactively calculated to November 30th 2016 with the level of 1000. The index is currently calculated every 15 seconds while the Tokyo Stock Exchange opens.
Nikkei High Yield REIT Index