MSCI Japan Index

The MSCI Japan Index is designed to measure the performance of the large and mid cap segments of the Japanese market. The index covers approximately 85% of the free float-adjusted market capitalization in Japan.

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Index code	939200
Index type	Equity
Benchmark administrator	MSCI LIMITED
Div Yld (%)	1.94
P/E	18.52
P/E Fwd	14.62
P/BV	1.93

Number of constituents	167
Index Market Cap	$5.12 T
Largest constituent Market Cap	$233.78 B
Smallest constituent Market Cap	$3.11 B
Average constituent Market Cap	$30.66 B
Median constituent Market Cap	$16.25 B
Does this benchmark pursue ESG objectives?	No

Data as of Oct. 30, 2026

		Annualized std dev (%)²	Sharpe ratio^2,3	Maximum drawdown
MSCI Japan Index	5.07	14.71	15.95	14.36	1.11	0.42	0.50	63.68	1989-02-28 - 2003-04-28
MSCI ACWI IMI Index	2.62	12.02	14.99	14.96	1.36	0.44	0.67	58.59	2007-10-31 - 2009-03-09

Ticker	Provider	Name	Product type	Index name	Currency
EWJ US	iShares	iShares MSCI Japan ETF	ETF	MSCI Japan Index	USD
XMJP GY	DWS	Xtrackers MSCI Japan UCITS ETF 1C	ETF	MSCI Japan Index	USD
LCJP NA	Amundi	Amundi MSCI Japan UCITS ETF - Acc	ETF	MSCI Japan Index	JPY
JPNA SW	UBS	UBS ETF (LU) MSCI Japan UCITS ETF (JPY) A-acc	ETF	MSCI Japan Index	JPY
IJPN LN	iShares	iShares MSCI Japan UCITS ETF USD (Dist)	ETF	MSCI Japan Index	USD

ESG metrics

Summary

MSCI Japan Index

Implied Temperature Rise

> 2.0°C - < 3.2°C

100.0% coverage

MSCI ACWI IMI Index

Implied Temperature Rise

> 2.0°C - < 3.2°C

94.3% coverage

MSCI Japan Index	Score	Coverage
ESG Score	7.8	100.0%
UN Global Compact Violations % (*)	0.0%	100.0%
Red Flag ESG Controversies % (*)	0.0%	100.0%

MSCI ACWI IMI Index	Score	Coverage
ESG Score	6.7	89.8%
UN Global Compact Violations % (*)	0.1%	100.0%
Red Flag ESG Controversies % (*)	0.1%	100.0%

(*) Additional ESG factor not mentioned in the regulation but provided for transparency purposes.

Data available as of Oct. 2026. The information was updated as part of the regular monthly update cycle. Data available as of Oct. 2026. The information was updated as part of the regular monthly update cycle.

MSCI ESG and climate ratings, research and data are produced by MSCI Solutions LLC, a subsidiary of MSCI Inc. MSCI Sustainability Indexes, Analytics, Real Assets, and Private Capital Solutions are products of MSCI Inc. that utilize information from MSCI Solutions LLC. MSCI Indexes are administered by MSCI Limited and MSCI Deutschland GmbH.

Consolidated environmental rating distribution

MSCI Japan Index

MSCI ACWI IMI Index

MSCI Japan Index	Score	Coverage
Environmental Pillar Score	6.0	100.0%
Aggregated Climate VaR %	-23.5%	--
Policy Risk Climate VaR %	-23.3%	100.0%
Technology Opportunities Climate VaR %	3.7%	94.6%
Physical Risk Climate VaR %	-10.3%	100.0%
Fossil Fuel-Based Sector Exposure (NACE) %	4.7%	100.0%
Enterprise Carbon Intensity (t CO2e/$M EVIC)	453.8	100.0%
Reported Emissions %	94.2%	--
Estimated Emissions %	5.8%	--
Wtd Avg Carbon Intensity (t CO2e/$M Sales)	839.6	100.0%
High Climate Impact Sector Exposure %	65.3%	100.0%
Fossil Fuel Reserves % (*)	8.3%	100.0%
Green Revenue	5.7	100.0%
Green Capex %	0.0%	13.8%
Green Bonds % (**)	--	--

MSCI ACWI IMI Index	Score	Coverage
Environmental Pillar Score	5.7	89.8%
Aggregated Climate VaR %	-17.1%	--
Policy Risk Climate VaR %	-13.9%	96.3%
Technology Opportunities Climate VaR %	1.3%	63.8%
Physical Risk Climate VaR %	-4.7%	96.5%
Fossil Fuel-Based Sector Exposure (NACE) %	7.4%	100.0%
Enterprise Carbon Intensity (t CO2e/$M EVIC)	331.4	97.8%
Reported Emissions %	92.5%	--
Estimated Emissions %	7.4%	--
Wtd Avg Carbon Intensity (t CO2e/$M Sales)	1039.8	97.4%
High Climate Impact Sector Exposure %	62.9%	100.0%
Fossil Fuel Reserves % (*)	5.6%	99.1%
Green Revenue	9.3	99.9%
Green Capex %	0.4%	12.9%
Green Bonds % (**)	--	--

(*) Additional ESG factor not mentioned in the regulation but provided for transparency purposes.

(**) The universe of self-labelled green bonds is sourced from Refinitiv and Climate Bonds Initiative. Bonds included in the MSCI Fixed Income Indexes that are not identified as selflabelled green bonds based on data from Refinitiv and Climate Bonds Initiative are deemed non-compliant with the green bond criteria as defined by the MSCI ESG Research Green Bond Assessment methodology. Such bonds are counted towards the Coverage %.

MSCI Japan Index	Score	Coverage
Social Pillar Score	5.3	100.0%
Controversial Weapons %	0.0%	100.0%
Tobacco Involvement - Highly Restrictive %	1.5%	--
Tobacco Involvement - Moderately Restrictive % (*)	1.0%	100.0%
Social Violations (Count)	0.0	100.0%
Social Violations (% of Constituents)	0.0%	100.0%
Lack of Due Diligence Policy (ILO) %	8.5%	100.0%
Gender Pay Gap	29.5	100.0%
Female:Male Board Diversity Ratio	35.4	100.0%
Total Recordable Injury Rate	1.5	97.0%
Bribery and Corruption Controversies (Sum)	3.0	100.0%

MSCI ACWI IMI Index	Score	Coverage
Social Pillar Score	4.9	89.8%
Controversial Weapons %	0.4%	99.9%
Tobacco Involvement - Highly Restrictive %	0.7%	--
Tobacco Involvement - Moderately Restrictive % (*)	0.6%	99.9%
Social Violations (Count)	11.0	100.0%
Social Violations (% of Constituents)	0.1%	100.0%
Lack of Due Diligence Policy (ILO) %	22.7%	97.5%
Gender Pay Gap	14.0	83.8%
Female:Male Board Diversity Ratio	55.8	96.7%
Total Recordable Injury Rate	4.0	69.1%
Bribery and Corruption Controversies (Sum)	103.0	100.0%

MSCI Japan Index	Score	Coverage
Governance Pillar Score	6.7	100.0%
Board Independence	54.5	100.0%
Board Gender Diversity	25.2	100.0%

MSCI ACWI IMI Index	Score	Coverage
Governance Pillar Score	5.8	89.8%
Board Independence	79.0	98.6%
Board Gender Diversity	33.8	98.6%

What is the MSCI Japan Index?

Japan’s equity market is constantly evolving. Discover how the MSCI Japan Index captures the performance of large- and mid-cap companies, spanning industries and long-term structural trends shaping this dynamic market.

Want to learn more about MSCI indexes?
Get in touch.

MSCI Japan Index

Score

Coverage

ESG Score

7.8

100.0%

UN Global Compact Violations % (*)

0.0%

100.0%

Red Flag ESG Controversies % (*)

0.0%

100.0%

MSCI ACWI IMI Index

Score

Coverage

ESG Score

6.7

89.8%

UN Global Compact Violations % (*)

0.1%

100.0%

Red Flag ESG Controversies % (*)

0.1%

100.0%

MSCI Japan Index

Score

Coverage

Environmental Pillar Score

6.0

100.0%

Aggregated Climate VaR %

-23.5%

Policy Risk Climate VaR %

-23.3%

100.0%

Technology Opportunities Climate VaR %

3.7%

94.6%

Physical Risk Climate VaR %

-10.3%

100.0%

Fossil Fuel-Based Sector Exposure (NACE) %

4.7%

100.0%

Enterprise Carbon Intensity (t CO2e/$M EVIC)

453.8

100.0%

Reported Emissions %

94.2%

Estimated Emissions %

5.8%

Wtd Avg Carbon Intensity (t CO2e/$M Sales)

839.6

100.0%

High Climate Impact Sector Exposure %

65.3%

100.0%

Fossil Fuel Reserves % (*)

8.3%

100.0%

Green Revenue

5.7

100.0%

Green Capex %

0.0%

13.8%

Green Bonds % (**)

MSCI ACWI IMI Index

Score

Coverage

Environmental Pillar Score

5.7

89.8%

Aggregated Climate VaR %

-17.1%

Policy Risk Climate VaR %

-13.9%

96.3%

Technology Opportunities Climate VaR %

1.3%

63.8%

Physical Risk Climate VaR %

-4.7%

96.5%

Fossil Fuel-Based Sector Exposure (NACE) %

7.4%

100.0%

Enterprise Carbon Intensity (t CO2e/$M EVIC)

331.4

97.8%

Reported Emissions %

92.5%

Estimated Emissions %

7.4%

Wtd Avg Carbon Intensity (t CO2e/$M Sales)

1039.8

97.4%

High Climate Impact Sector Exposure %

62.9%

100.0%

Fossil Fuel Reserves % (*)

5.6%

99.1%

Green Revenue

9.3

99.9%

Green Capex %

0.4%

12.9%

Green Bonds % (**)

MITSUBISHI UFJ FIN GRP	4.56%
TOYOTA MOTOR CORP	3.61%
ADVANTEST CORP	3.16%
RECRUIT HOLDINGS CO	3.15%
SUMITOMO MITSUI FINL GRP	2.91%
SONY GROUP CORP	2.85%
HITACHI	2.79%
TOKYO ELECTRON	2.62%
MIZUHO FINANCIAL GROUP	2.23%
SOFTBANK GROUP CORP	2.06%

		Annualized std dev (%)²			Sharpe ratio^2,3			Maximum drawdown
Index	Turnover(%)¹	3 YR	5 YR	10 YR	3 YR	5 YR	10 YR	%	Period YYYY-MM-DD
MSCI Japan Index	5.07	14.71	15.95	14.36	1.11	0.42	0.50	63.68	1989-02-28 - 2003-04-28
MSCI ACWI IMI Index	2.62	12.02	14.99	14.96	1.36	0.44	0.67	58.59	2007-10-31 - 2009-03-09

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MSCI Japan Index

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37 index-linked ETPs

ESG metrics

Summary

MSCI Japan Index

MSCI ACWI IMI Index

Consolidated environmental rating distribution

MSCI Japan Index

MSCI ACWI IMI Index

Consolidated social rating distribution

MSCI Japan Index

MSCI ACWI IMI Index

Consolidated governance rating distribution

MSCI Japan Index

MSCI ACWI IMI Index

What is the MSCI Japan Index?

Want to learn more about MSCI indexes?Get in touch.

ESG metrics

Summary

MSCI Japan Index

MSCI ACWI IMI Index

Consolidated environmental rating distribution

MSCI Japan Index

MSCI ACWI IMI Index

Consolidated social rating distribution

MSCI Japan Index

MSCI ACWI IMI Index

Consolidated governance rating distribution

MSCI Japan Index

MSCI ACWI IMI Index

Index risk and return characteristics

Want to learn more about MSCI indexes?
Get in touch.