The scan is leaning hard on earnings yield vs bonds. That driver prints in 10 of 10 names. Book: +16.8% to +29.3%, median conf 87. Consumer Cyclical has 3 names, Financial Services 2, Utilities 1. Kan

What changed

SoftBank Group Corp. ($9984.T) is univ 99%, sec 100%, +25.7%, conf 87. ↑ earnings yield vs bonds (+0.0902), ↑ downside risk (+0.0231), ↑ 6mo momentum (+0.0115). Daiwa House Industry Co., Ltd. ($1925.T) shares that yield and downside risk print, but it rides ↑ 12mo momentum (+0.0155). Yamaha Motor Co., Ltd. ($7272.T) is Consumer Cyclical, univ 98%, sec 100%, +22.5%, conf 87. The issue: ↓ 12mo momentum (-0.0181), but ↑ 6mo momentum (+0.0142) and ↑ earnings yield vs bonds (+0.0840) still carry it. Sumitomo Pharma Co., Ltd. ($4506.T) is Healthcare, univ 98%, sec 100%, +21.8%, conf 87. ↑ earnings yield vs bonds (+0.0902), ↑ illiquidity (+0.0124), ↓ 6mo momentum (-0.0111). Yield is doing the heavy lifting. Suzuki Motor Corporation ($7269.T) is Consumer Cyclical, univ 97%, sec 97%, +20.7%, conf 86. ↑ earnings yield vs bonds (+0.0902), ↓ illiquidity (-0.0076), ↑ 12mo momentum (+0.0075). Lower sec rank than the top names. Tokio Marine Holdings, Inc. ($8766.T) is Financial Services, univ 97%, se

Why it matters