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

1. Konica Minolta, Inc. (4902.T) · Industrials · univ 100% · sec 100% · +15.5% · conf 91 ↑ earnings yield vs bonds (+0.0850) ↑ downside risk (+0.0164) ↑ 6mo momentum (+0.0112) 2. Idemitsu Kosan Co.,Ltd. (5019.T) · Energy · univ 100% · sec 100% · +13.9% · conf 91 ↑ earnings yield vs bonds (+0.0935) ↑ 6mo momentum (+0.0139) ↑ 6mo alpha vs SPY (+0.0125) 3. The Kansai Electric Power Company, Incorporated (9503.T) · Utilities · univ 99% · sec 100% · +12.4% · conf 91 ↑ earnings yield vs bonds (+0.0935) ↓ 12mo momentum (-0.0115) ↑ max drawdown (+0.0087) 4. Sumitomo Pharma Co., Ltd. (4506.T) · Healthcare · univ 99% · sec 100% · +11.5% · conf 91 ↑ earnings yield vs bonds (+0.0935) ↑ downside risk (+0.0118) ↑ illiquidity (+0.0114) 5. Daiwa House Industry Co., Ltd. (1925.T) · Real Estate · univ 98% · sec 100% · +10.7% · conf 91 ↑ earnings yield vs bonds (+0.0935) ↓ downside risk (-0.0173) ↑ 12mo momentum (+0.0150) 6. Yamaha Motor Co., Ltd. (7272.T) · Consumer Cyclical · univ 98% · sec 1

1. Konica Minolta, Inc. (4902.T) · Industrials · univ 100% · sec 100% · +15.5% · conf 91