What is ex-rights day?Ex-Rights Day

The business day after the last cum-rights day. Buy from this day on and you don't get this dividend or perks, and the share price usually drops by about the dividend.

Learn “ex-rights day” in an animated lesson

Japan Stock Rules
T+2 Settlement and the Record Date
Japanese trades settle on the 2nd business day after the trade; to get dividends and shareholder perks, you must hold at the close 2 business days before the record date (the last cum-rights day) at the latest.

Related terms

settlement
T+0
last cum-rights day

See how “ex-rights day” works for yourself with an animation you can drag and play.

Go to “T+2 Settlement and the Record Date”