Softbank Launches 'New Japan Index'

Softbank Asset Management, a wholly owned subsidiary of Softbank Finance, released Thursday its "New Japan Index", a new stock price index designed to track Japan's trend in changing new economy, including 61 stocks such as NTT DoCoMo Inc. (9437) , Toyota Motor Corp., Sony Corp. (SNE) and Seven Eleven Japan Co. Ltd.

The index lists up to 100 stocks of information infrastructure companies, new and successful online businesses as well as companies that actively use information technology to increase efficiency of their existing businesses.

The companies are selected from the top 100 large-cap shares listed on each of Japan's six major stock markets such as Tokyo Stock Exchange's first and second and Mother's sections, Osaka Stock Exchange's first section and Nasdaq Japan as well as OTC market. They must maintain 100 billion yen (US$857 million) market cap or more.

Each stock will not exceed 5 percent of the index's composition. The index will be reshuffled every three months, and bases the end of December 1998 as 1000.

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