Earnings yield vs bonds is the entire signal—10 of 10 names driven by it. Book +9.5% to +15.2%, median conf 91. Normal vol, normal credit, steep curve. Sector labels are mostly noise: two consumer cyc

Konica Minolta, Inc. ($4902.T) +15.2% conf 91: yield plus downside risk and illiquidity—thin tape boost. Idemitsu Kosan Co.,Ltd. ($5019.T) +14.0% conf 91: cleaner, yield plus 6mo momentum and alpha vs SPY. The Kansai Electric Power Company, Incorporated ($9503.T) +13.8% conf 91: same yield, but 12mo momentum drags; vol instability props it up. Sumitomo Pharma Co., Ltd. ($4506.T) +12.6% conf 91: yield plus illiquidity and 60d vol—less liquid. Nomura Holdings, Inc. ($8604.T) +12.2% conf 91: yield plus max drawdown and 6mo momentum—risk-on financial. SoftBank Group Corp. ($9984.T) +12.0% conf 91: yield plus downside risk, but 12mo momentum negative—contrarian. Daiwa House Industry Co., Ltd. ($1925.T) +11.4% conf 91: yield, lower downside risk, 12mo momentum positive—balanced. Yamaha Motor Co., Ltd. ($7272.T) +11.0% conf 91: yield, 12mo momentum drags, 6mo momentum positive—turn? Sharp Corporation ($6753.T) +10.0% conf 91: yield, 12mo momentum, illiquidity. The Yokohama Rubber Company, Lim

Konica Minolta, Inc. ($4902.T) +15.2% conf 91: yield plus downside risk and illiquidity—thin tape boost. Idemitsu Kosan Co.,Ltd. ($5019.T) +14.0% conf 91: cleaner, yield plus 6mo momentum and alpha vs