Model is putting its weight in one trade: earnings yield vs bonds. 10 of 10 names. Book +7.0% to +13.0%, median conf 91. Sector labels are secondary — Industrials, Consumer Cyclical, Utilities repeat,

Konica Minolta, Inc. ($4902.T) +13.0%, conf 91: univ 100/sec 100, ↑downside risk and ↑6mo momentum stack on the common earnings-yield bid. KANSAI ELECTRIC POWER CO INC ($9503.T) +11.4%: ↑vol instability and ↑max drawdown. SoftBank Group Corp. ($9984.T) +9.9%: ↑downside risk, but ↓12mo momentum. Yamaha Motor Co., Ltd. ($7272.T) +9.5%: ↑6mo momentum, ↓12mo momentum. Daiwa House Industry Co., Ltd. ($1925.T) +9.1%: ↑12mo momentum, ↓downside risk actually helps. Tokuyama Corporation ($4043.T) +8.3%: ↑downside risk and ↑illiquidity. Sumitomo Pharma Co., Ltd. ($4506.T) +8.2%: ↓6mo momentum and ↓6mo alpha vs SPY. Nomura Holdings, Inc. ($8604.T) +8.0%: ↑downside risk and ↑vol instability. Financials sec rank 100 — still not a sector call. The Yokohama Rubber Company, Limited ($5101.T) +7.1%: ↑downside risk, ↓12mo momentum, sec 97 not 100. Japan Airlines Co., Ltd. ($9201.T) +7.0%: ↑12mo momentum, ↓downside risk. Bottom of book, lower conf, more momentum conflict. So what: this list lives and die

Konica Minolta, Inc. ($4902.T) +13.0%, conf 91: univ 100/sec 100, ↑downside risk and ↑6mo momentum stack on the common earnings-yield bid. KANSAI ELECTRIC POWER CO INC ($9503.T) +11.4%: ↑vol instabili