Nikkei Stock Index 300 to remove Hitachi Metals from constituents

TOKYO -- Nikkei announced on Thursday that it will remove Hitachi Metals from the constituent stocks of the Nikkei Stock Index 300, or Nikkei 300, on Nov. 10. Maruichi Steel Tube will be added as a replacement then.

A takeover bid for Hitachi Metals by a coalition of U.S. and Japanese funds led by Bain Capital was passed earlier this week. Nikkei has decided that there is a very high possibility that the company will be delisted in the future.

Nikkei also decided to remove Hitachi Metals from the Nikkei 500 Stock Average, or Nikkei 500, on Nov. 10 by the same reason. Systena will be added as a replacement then.

(Nikkei)