The scan is saying the same thing across 10/10: earnings yield vs bonds is the dominant short driver. Rates are squeezing every sector. Consumer cyclical, healthcare, financials, industrials all show

Fast Retailing Co., Ltd. ($9983.T) is the cleanest top short: -9.6%, conf 82, earnings-yield gap huge, 12mo momentum already rolling, downside risk adds pressure. Takeda Pharmaceutical Company Limited ($4502.T) same bond-yield issue plus downside risk and 12mo momentum; -8.5%, conf 79. Sompo Holdings, Inc. ($8630.T) is the financials version: earnings yield vs bonds, downside risk, 6mo momentum; -7.7%, conf 81. Teijin Limited ($3401.T) is Industrials, highest conviction at 83 but different: earnings-yield gap max -0.0919, illiquidity actually helps, vol instability hurts; -7.5%. Aeon Co., Ltd. ($8267.T) is Consumer Cyclical with positive 12mo momentum but 6mo rolling over — classic fade; -7.1%, conf 80. Takashimaya Company, Limited ($8233.T) is Consumer Cyclical, low vol, weak 12mo momentum, conf 78; -6.8%. Mitsubishi Heavy Industries, Ltd. ($7011.T) is Industrials with positive 12mo momentum but earnings-yield gap and liquidity drag it down; -6.4%, conf 82. HOYA Corporation ($7741.T)

Fast Retailing Co., Ltd. ($9983.T) is the cleanest top short: -9.6%, conf 82, earnings-yield gap huge, 12mo momentum already rolling, downside risk adds pressure. Takeda Pharmaceutical Company Limited