A major overhaul of the Topix index is underway, with plans to significantly reduce the number of constituting stocks. The current total of around 1,600 stocks will be cut by approximately 40 percent. This reduction will result in the number of stocks falling below 1,000.

Further details about the revamp are available from the source. The overhaul aims to modify the composition of the Topix index, although specific details about the implementation and timeline are not provided here.

For more information about the changes to the Topix index, readers can refer to the original source for a more comprehensive update.