BlackRock Japan has confirmed it will close the iShares MSCI Japan SRI ETF (code 2851). In a notice dated 20 October 2026, the manager said a written vote of unitholders passed, so the trust will end early on 25 November 2026. The approval needed at least two-thirds of the voting rights held on the 9 August record date, and the notice counts holders who did not vote as in favour where the law deems them so. Earlier Tokyo Brief coverage
The calendar
The Tokyo Stock Exchange designated the ETF as a security slated for delisting on 20 October. Trading continues until the final session on Friday 20 November, and the listing ends on 21 November, the day the trust deed change takes effect. The trust ends on 25 November, which is also the date that fixes who receives redemption proceeds. Payments are scheduled to start on 30 December, and the notice describes the termination and payment dates as planned. The redemption amount is not yet set; BlackRock Japan said it will post it on its website once confirmed.
New subscriptions stop from 21 October, and exchange requests are not accepted from 18 November. The fund plans to sell its shares on 18 November, so from 19 November its net asset value will no longer follow the target index.
Why BlackRock is closing it
The fund launched on 7 June 2022. At the end of June 2026 its net assets were ¥1.48bn and it had 3,754,032 units outstanding. The trust deed allows termination once three years have passed and units fall below 15 million. BlackRock Japan said it judged that growth in assets was unlikely and chose early redemption.
What holders need to do
The notice says Japanese individuals holding the ETF in a NISA account who realise a gain on redemption cannot claim NISA treatment on it and must file a tax return. Selling on the market by 20 November keeps NISA treatment, according to the notice. For specific accounts, the notice says gains or losses on redemption cannot be netted against other income inside the account, though they can be offset through an individual tax return. It recommends consulting a tax professional.
Holders who voted against can ask the trustee to buy their units between 21 October and 9 November, limited to units held on 9 August and still held at the time of the request. The notice says they are not obliged to do so and may sell on the exchange or hold to redemption.
How proceeds arrive depends on each holder's dividend-receipt method. Those on the proportional-allocation or receipt-slip methods get a receipt to cash at a Japan Post Bank or post office, while registered-account holders are paid into their designated accounts. The notice warns that changing the method at a brokerage also changes how dividends on other holdings are paid.