Nihon Keizai Shimbun Inc. said Friday it will replace Asahi Bank with another issue on the Nikkei average of 225 selected stocks on Feb. 25, when the bank is taken off the Tokyo Stock Exchange.
Asahi Bank will be delisted because it will become a wholly owned subsidiary of Daiwa Bank Holdings Inc. on March 1, the publisher of the like-named business daily said.
The issue that will replace Asahi Bank will be announced after the TSE closes on Friday. The new issue will be added Feb. 27.
Nihon Keizai Shimbun said the delisting and replacement of Nikkei index components will be done on the condition that the share-exchange agreement between the two banks is approved at an extraordinary general meeting of shareholders of Daiwa Bank Holdings next Friday.
When the constituents are changed, the 225-issue Nikkei average will fall to 224 issues on Feb. 25 and 26, according to the company.
The change will also involve the Nikkei Stock Index 300 and the Nikkei 500 Stock Average as Asahi is also listed on those indexes, the company said.