MSCI Japan Buyback Yield Index

The MSCI Japan Buyback Yield Index is based on the MSCI Japan Index, its parent index, and includes large and mid-cap stocks across the Japanese market. The index is designed to reflect the performance of companies that return capital to shareholders through share buybacks. The index seeks to avoid companies whose buybacks are structured to offset other sources of issuance (ESOPS etc.) by capturing buyback yield adjusted for issuance.