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

1. Konica Minolta, Inc. (4902.T) · Industrials · univ 100% · sec 100% · +13.7% · conf 91 ↑ earnings yield vs bonds (+0.0850) ↑ downside risk (+0.0164) ↑ 6mo momentum (+0.0112) 2. The Kansai Electric Power Company, Incorporated (9503.T) · Utilities · univ 100% · sec 100% · +12.9% · conf 91 ↑ earnings yield vs bonds (+0.0935) ↑ 6mo momentum (+0.0139) ↑ 6mo alpha vs SPY (+0.0125) 3. Idemitsu Kosan Co.,Ltd. (5019.T) · Energy · univ 99% · sec 100% · +12.3% · conf 91 ↑ earnings yield vs bonds (+0.0935) ↑ 6mo momentum (+0.0139) ↑ 6mo alpha vs SPY (+0.0125) 4. Nomura Holdings, Inc. (8604.T) · Financial Services · univ 99% · sec 100% · +10.8% · conf 91 ↑ earnings yield vs bonds (+0.0767) ↑ 6mo momentum (+0.0112) ↑ 6mo alpha vs SPY (+0.0101) 5. Sumitomo Pharma Co., Ltd. (4506.T) · Healthcare · univ 98% · sec 100% · +10.3% · conf 91 ↑ earnings yield vs bonds (+0.0935) ↑ downside risk (+0.0118) ↑ illiquidity (+0.0096) 6. Daiwa House Industry Co., Ltd. (1925.T) · Real Estate · univ 98% ·

1. Konica Minolta, Inc. (4902.T) · Industrials · univ 100% · sec 100% · +13.7% · conf 91