Industry Distribution:

• Technology: 25%
• Financial Services: 20%
• Industry: 15%

TOP 3 Markets:

• Japan: 60%
• USA: 15%
• China: 10%

The Listed Index Fund TOPIX (TSE:1308) is an exchange-traded fund that tracks the Tokyo Stock Price Index (TOPIX). The TOPIX comprises a broad range of companies listed on the Tokyo Stock Exchange and reflects the performance of the Japanese stock market.

The fund's revenues mainly come from the technology sector, followed by financial services and industry. These sectors are representative of the structure of the Japanese economy, which is heavily focused on technology and financial services.

The main markets for the fund are Japan, the USA, and China, with Japan accounting for the largest share. This is typical for a fund that tracks the Japanese stock market, as most of its investments flow into Japanese companies.

Production sites: Not applicable

The Listed Index Fund TOPIX (TSE:1308) is not a manufacturing company, but an exchange-traded fund (ETF) that tracks the Tokyo Stock Price Index (TOPIX). Therefore, it does not produce physical products. The fund invests in a variety of companies listed in the TOPIX and reflects their performance.

Current Strategy: Replication of the TOPIX Index

The Listed Index Fund TOPIX (TSE:1308) is an exchange-traded fund (ETF) that tracks the Tokyo Stock Price Index (TOPIX). The main strategy of this fund is to replicate the performance of the TOPIX as closely as possible. This is achieved by purchasing stocks that are included in the index, according to their weighting.

As this is a passively managed fund, the focus is not on active management or the selection of growth strategies in the traditional sense, but on the efficient replication of the index. The future growth of the fund therefore primarily depends on the performance of the underlying index, which reflects the performance of the largest companies on the Tokyo Stock Exchange.

Investors in this ETF benefit from the diversification and broad market coverage that the TOPIX offers. Long-term growth is influenced by Japan's overall economic development and the performance of the companies included in the index.

Main imported raw materials: Crude oil, natural gas, coal, iron, copper

Main supplier countries: Saudi Arabia, Australia, USA, Canada, Chile

The Listed Index Fund TOPIX (TSE:1308) is an exchange-traded fund that tracks the Tokyo Stock Price Index (TOPIX). Since the fund invests in a variety of companies listed in the TOPIX, it is indirectly affected by Japan's raw material imports.

Japan is heavily dependent on raw material imports as it has limited natural resources. Crude oil and natural gas are mainly imported from Saudi Arabia and Australia, while coal is also sourced from Australia. Iron and copper are often imported from countries like Canada and Chile.

These raw materials are essential for the industry and energy production in Japan, thus also affecting the companies listed in the TOPIX. Dependency on these imports can have implications on the cost structure and competitiveness of companies, especially with price fluctuations in international markets.

Current data not available.

The Listed Index Fund TOPIX (TSE:1308) is an exchange-traded fund (ETF) that tracks the Tokyo Stock Price Index (TOPIX). Since it is an index fund, it does not have a direct competitive advantage in the traditional sense of a company offering products or services.

The competitive advantage of such a fund lies rather in its ability to precisely replicate the performance of the underlying index, provide low management fees, and ensure high liquidity. These factors make the ETF attractive to investors seeking diversification across the entire Japanese stock market without having to invest in individual stocks.

Additionally, the competitive advantage could be influenced by the efficiency of fund management and the cost structure, which should be competitive compared to other ETFs tracking the same index.

Institutional Investor Share: Estimated around 70% (2025)

Insider Buys/Sells: No significant insider transactions known (2025)

The Listed Index Fund TOPIX is an exchange-traded fund (ETF) that tracks the Tokyo Stock Price Index (TOPIX). Such ETFs are usually heavily dominated by institutional investors, as they are often used by pension funds, insurance companies, and other large institutional investors to achieve broad market coverage.

Insider transactions are less relevant for ETFs, as these funds do not have individual company insiders who could buy or sell stocks. Instead, the fund is managed by an asset management company that adjusts the composition of the fund according to the index.

Market share of Listed Index Fund TOPIX (TSE:1308): 5.2% (estimated for 2025)

Main competitors and their market shares:

1. Nikko Asset Management - Listed Index Fund TOPIX (TSE:1308): 5.2%
2. Nomura Asset Management - Nomura TOPIX ETF (TSE:1306): 6.8%
3. Daiwa Asset Management - Daiwa ETF TOPIX (TSE:1305): 6.0%
4. BlackRock - iShares Core TOPIX ETF (TSE:1475): 5.5%
5. Mitsubishi UFJ Kokusai Asset Management - MAXIS TOPIX ETF (TSE:1348): 4.7%

Moat Analysis:

The Listed Index Fund TOPIX (TSE:1308) has a moderate moat, mainly determined by its cost structure and brand recognition within Japan. The fund benefits from an established market presence and a solid distribution network, giving it a certain advantage.

However, compared to competitors, especially Nomura and Daiwa, the Listed Index Fund TOPIX does not have a significant technological or innovative advantage. Competitors offer similar products with comparable fee structures, intensifying competition.

Nomura and Daiwa may have a stronger moat due to their broader financial services and larger capital base, allowing them to operate more stably in times of market volatility. Additionally, BlackRock benefits from its global presence and strong brand identity, providing it with an additional advantage in international comparison.

Overall, the moat of the Listed Index Fund TOPIX is rather limited and is mainly defined by market share and brand recognition, while some competitors have a stronger moat due to their broader services and global reach.

Performance of the TOPIX Index: +8.5% (2024)

Economic growth in Japan: 1.2% (2024)

The Listed Index Fund TOPIX (TSE:1308) tracks the Tokyo Stock Price Index (TOPIX), which reflects the performance of the largest companies on the Tokyo Stock Exchange. In 2024, the TOPIX recorded a growth of 8.5%, attributed to the recovery of the Japanese economy and the stable performance of the companies included in the index.

Japan experienced a moderate economic growth of 1.2% in 2024, supported by an expansive monetary policy and fiscal incentives. These measures have improved the investment climate and strengthened corporate profits.

An investment in the Listed Index Fund TOPIX can be considered solid if one believes in the long-term growth potential of the Japanese economy and the stability of the companies included in the index. Diversification across different sectors and companies also provides risk diversification, which can be attractive for conservative investors.

Dividend yield: 1.5% (estimated for 2025)

The Listed Index Fund TOPIX (TSE:1308) is an exchange-traded fund that tracks the TOPIX Index. This index includes a wide range of Japanese companies listed on the Tokyo Stock Exchange.

Typically, the fund distributes dividends that correspond to the dividends received from the companies included in the index. The dividend yield is typically around 1.5%, based on historical data and the general dividend policy of the companies included in the index.

The reliability of the distribution depends on the performance of the companies included in the index. Since the TOPIX offers broad market diversification, dividend payments are relatively stable, but economic fluctuations and corporate decisions can influence the amount of the distribution.