Underlying Holdings: The price directly reflects the performance of companies within the Solactive Japan Core Equity ex Financials ex Real Estate UCITS Index TR.

Supply and Demand: Increased buying pressure raises the price; increased selling pressure lowers it.

Market Sentiment: Overall investor optimism or pessimism regarding Japanese equities affects the ETF's valuation.

Currency Fluctuations: Changes in the EUR/JPY exchange rate impact returns for Euro-based investors.

Expense Ratio: The management fee, while small, slightly reduces the ETF's returns compared to the underlying index.

Tracking Error: Deviations between the ETF's performance and the index's performance influence its price.

Economic Conditions in Japan: Economic growth, inflation, and interest rates in Japan influence the performance of the constituent companies.

Global Economic Conditions: Worldwide economic factors can affect Japanese exports and corporate earnings.

Geopolitical Events: Significant global or regional events can create market volatility affecting the ETF.

Dividend Payments: Dividends paid by the underlying companies contribute to the ETF's overall return and influence the price.