Top 10 sector concentration: Industrials (2), Consumer Cyclical (2), Energy (1)

1. Konica Minolta, Inc. (4902.T) · Industrials · univ 100% · sec 100% · +21.2% · conf 92 ↑ earnings yield vs bonds (+0.0956) ↑ downside risk (+0.0233) ↑ 6mo alpha vs SPY (+0.0162) 2. Idemitsu Kosan Co.,Ltd. (5019.T) · Energy · univ 100% · sec 100% · +17.8% · conf 92 ↑ earnings yield vs bonds (+0.1053) ↑ 6mo alpha vs SPY (+0.0208) ↑ 6mo momentum (+0.0151) 3. The Kansai Electric Power Company, Incorporated (9503.T) · Utilities · univ 99% · sec 100% · +17.5% · conf 92 ↑ earnings yield vs bonds (+0.1053) ↓ 12mo momentum (-0.0139) ↑ 6mo alpha vs SPY (+0.0120) 4. Nomura Holdings, Inc. (8604.T) · Financial Services · univ 99% · sec 100% · +15.6% · conf 92 ↑ earnings yield vs bonds (+0.0863) ↑ downside risk (+0.0163) ↑ vol instability (+0.0094) 5. Daiwa House Industry Co., Ltd. (1925.T) · Real Estate · univ 98% · sec 100% · +15.4% · conf 92 ↑ earnings yield vs bonds (+0.1053) ↓ downside risk (-0.0236) ↑ 12mo momentum (+0.0181) 6. Sumitomo Pharma Co., Ltd. (4506.T) · Healthcare · univ

1. Konica Minolta, Inc. (4902.T) · Industrials · univ 100% · sec 100% · +21.2% · conf 92