Sales of products linked to the Nikkei 225 index in Japan have decreased by 55% year-on-year, from JPY325bn to JPY145bn, according to SRP data. Similarly, issuance decreased by 36%, from 74 to 47 products linked to the Nikkei 225. The majority of the Nikkei 225-linked products year-to-date were distributed by Mitsubishi UFJ (nine products), Tokai Tokyo Financial Holdings (seven products) and IwaiCosmo Holdings (five products). All 47 products were wrapped as registered notes . Despite the fall

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