Scan is all in on earnings yield vs bonds—10/10 names have it top driver. Book +11.3%..+17.7% 6m, median conf 91. Broad sector spread, not one theme. Top of book: Konica Minolta, Inc. ($4902.T) +17.7%

Sumitomo Pharma Co., Ltd. ($4506.T) +14.1%, conf 91: illiquidity is a positive driver—thin tape, not clean fundamental. The Kansai Electric Power Company, Incorporated ($9503.T) +14.0%, conf 91: negative 12mo momentum but positive max drawdown; cheap, not trending. Daiwa House Industry Co., Ltd. ($1925.T) +12.1%, conf 91: 12mo momentum up, but downside risk down—not a safety bid. Nomura Holdings, Inc. ($8604.T) +12.0%, conf 91: 6mo momentum and vol instability both positive; risk-on financial, not quiet value. Yamaha Motor Co., Ltd. ($7272.T) +11.7%, conf 91: negative 12mo momentum and negative downside risk—cheap but still falling. The Yokohama Rubber Company, Limited ($5101.T) +11.5%, conf 89: positive downside risk, negative 12mo momentum; mixed tape. FUJIFILM Holdings Corporation ($4901.T) +11.4%, conf 90: lowest earnings-yield contribution of the group (+0.0393), but 12mo momentum and downside risk both positive. SoftBank Group Corp. ($9984.T) +11.3%, conf 91: highest downside ris

Sumitomo Pharma Co., Ltd. ($4506.T) +14.1%, conf 91: illiquidity is a positive driver—thin tape, not clean fundamental. The Kansai Electric Power Company, Incorporated ($9503.T) +14.0%, conf 91: negat