Industry Distribution:

• Technology: 25%
• Finance: 20%
• Consumer Goods: 15%
• Industrial: 15%
• Healthcare: 10%
• Energy: 5%
• Other: 10%

TOP 3 Markets:

• Japan: 60%
• USA: 20%
• China: 10%

The NEXT FUNDS JPX-Nikkei Index 400 ETF invests in a variety of industries, with technology and finance making up the largest shares. This reflects the strong presence and innovative power of these sectors in Japan.

The domestic market Japan dominates with 60% of the revenue, emphasizing the fund's local market orientation. The USA and China follow as significant international markets that diversify the fund and allow it to benefit from global growth opportunities.

NEXT FUNDS JPX-Nikkei Index 400 ETF is an exchange-traded fund (ETF) and not a company that produces physical products.

This ETF is managed by Nomura Asset Management and aims to replicate the performance of the JPX-Nikkei Index 400. The index consists of a selection of 400 Japanese companies chosen based on criteria such as return on capital, operating profit, and corporate governance.

Being a financial fund, there are no physical production facilities or products.

Current Strategy: Diversification and Efficiency Enhancement

Focus on ESG Investments: Increasing ESG-Compliant Assets

The NEXT FUNDS JPX-Nikkei Index 400 ETF aims to achieve sustainable growth through strategic diversification and efficiency enhancement in the portfolio. The fund places particular emphasis on companies with high capital returns and solid corporate governance.

Another focus is on ESG investments (Environmental, Social, and Governance) to meet the growing demands of investors seeking sustainable and responsible investment opportunities. This is supported by the selection of companies in the index that meet ESG criteria.

Future growth is also sought through adapting to market trends and integrating new technologies into the investment strategy to optimize the fund's performance.

Imported Raw Materials/Resources: No specific raw materials

The NEXT FUNDS JPX-Nikkei Index 400 Exchange Traded Fund (TSE:1591) is an exchange-traded fund (ETF) that tracks the JPX-Nikkei Index 400. This index comprises 400 leading Japanese companies selected based on criteria such as return on capital, operating profit, and corporate governance.

Since this ETF is a financial product, it does not import physical raw materials or resources itself. Instead, the fund invests in stocks of companies included in the JPX-Nikkei 400 Index. However, these companies may import raw materials from various countries depending on their respective industries and business models.

For detailed information on the raw material imports of individual companies in the index, the annual reports of the respective companies would need to be consulted.

Market share of ETFs in Japan: 8% (estimated for 2025)
Assets under management (AUM): 1.2 trillion JPY (2024)
Expense ratio: 0.15% (2024)

The NEXT FUNDS JPX-Nikkei Index 400 ETF has a significant competitive advantage due to its strong market presence in Japan, reflected in an estimated market share of 8% in 2025.

The assets under management of 1.2 trillion JPY in 2024 indicate that the ETF has reached a significant size, providing it with economies of scale and associated cost advantages.

The low expense ratio of 0.15% makes the ETF an attractive choice for investors seeking cost-effective investment opportunities. These factors help strengthen the ETF's competitive advantage in an increasingly competitive market.

Institutional Investor Share: Estimated around 60-70% (2025)

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

The institutional investor share in large ETFs such as the NEXT FUNDS JPX-Nikkei Index 400 ETF typically ranges from 60-70%. These funds are popular among institutional investors as they offer broad diversification and cost-effective market exposure.

Insider transactions are less relevant for ETFs, as they are funds that replicate an index rather than individual companies with specific insider activities. Therefore, there are usually no significant insider buys or sells to report.

Market share of NEXT FUNDS JPX-Nikkei Index 400 ETF: Estimate: approx. 5% (2025)

Top competitors and their market shares:

1. iShares Core TOPIX ETF: approx. 20%
2. Nomura TOPIX ETF: approx. 15%
3. Daiwa ETF TOPIX: approx. 12%
4. Nikko Asset Management ETF: approx. 10%
5. SMTAM ETF TOPIX: approx. 8%

The NEXT FUNDS JPX-Nikkei Index 400 ETF has a market share of about 5%, making it a smaller player compared to its competitors. The largest competitors are iShares Core TOPIX ETF and Nomura TOPIX ETF, which together hold a significant share of the market.

The moat of the NEXT FUNDS JPX-Nikkei Index 400 ETF is less pronounced compared to the leading ETFs. Larger ETFs like iShares and Nomura benefit from stronger brand recognition and a broader distribution network, giving them a significant advantage.

However, the NEXT FUNDS ETF could have a competitive advantage through specific index strategies or lower costs. Nevertheless, the moat is considered weaker compared to the leading ETFs, as they dominate through economies of scale and established market positions.

Fund Size: 1.2 billion USD (2024) Annual Return: 8.5% (2024) Management Fee: 0.15% (2024)

The NEXT FUNDS JPX-Nikkei Index 400 ETF aims to replicate the performance of the JPX-Nikkei Index 400, which includes companies with high capital returns and good corporate governance.

In 2024, the fund recorded an annual return of 8.5%, indicating a solid performance of the companies included in the index. The low management fee of 0.15% also makes the ETF cost-effective compared to actively managed funds.

The selection criteria of the JPX-Nikkei Index 400, focusing on quality and governance, provide a certain level of security and stability, making the fund an attractive option for long-term investors looking to participate in the Japanese market's development.

Overall, the ETF could be a good investment if one believes in Japan's long-term economic recovery and growth potential.

Dividend Yield: 1.5% (estimate for 2025)

The NEXT FUNDS JPX-Nikkei Index 400 Exchange Traded Fund (TSE:1591) regularly pays out dividends. The dividend yield is estimated to be around 1.5% for 2025. This estimate is based on historical payouts and the overall performance of the underlying index.

The reliability of the payout is relatively high, as the ETF invests in a broadly diversified index that includes companies with solid financial health and good corporate governance. The ETF's dividend policy is based on the earnings of the companies included in the index, providing a certain level of stability.