At one point in 2026, Kioxia Holdings’ market cap was more than 10 times its value in late 2025. (Photo by Shintaro Ino)
TOKYO — Japan’s broad Topix index is set to see a notable reduction in its constituents, as structural reforms and the ballooning market valuations of AI-linked firms such as memory chip manufacturer Kioxia Holdings push small- and mid-cap stocks out of the benchmark.
