Nitto Denko, Tokyu Fudosan to be added to Nikkei in annual index rejig

TOKYO, Sept 6 Fri Sep 6, 2013 4:20am EDT

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TOKYO, Sept 6 (Reuters) - Material maker Nitto Denko Corp and real estate firm Tokyu Fudosan Holdings Corp will be promoted to the benchmark Nikkei, index compiler and newspaper publisher Nikkei Inc said on Friday.

Nitto Denko, which has a market capitalisation of $9.9 billion, will replace Tokyu Land Corp starting on Sept. 26, Nikkei said in a statement.

Tokyu Land will be delisted due to corporate reorganisation and Tokyu Fudosan will take over its business.

Nikkei said Tokyu Fudosan will then be added to the benchmark on Oct. 2, replacing Mitsubishi Paper Mills Ltd , which has a market capitalisation of $300 million. (Reporting by Tomo Uetake; Editing by Anand Basu)

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