The scan is bearish: 6m expected returns run -22.1% to -15.8%, median confidence 84, all 10 sit in univ top 4%, and earnings yield vs bonds is the drag in 10 of 10. Consumer Cyclical is the main clust

Fast Retailing Co., Ltd. ($9983.T): -22.1%, conf 86, univ 0%, sec 3%, ↓12mo momentum and ↓downside risk. HOYA Corporation ($7741.T): -21.4%, conf 83, univ 1%, sec 8%, ↓downside risk and ↓illiquidity. Takeda Pharmaceutical Company Limited ($4502.T): -19.6%, conf 78, sec 15%, ↓12mo momentum and ↓downside risk. Shin-Etsu Chemical Co., Ltd. ($4063.T): -19.6%, conf 85, sec 5%, ↓downside risk and ↓illiquidity. Takeda's weak sec rank is the tell. Aeon Co., Ltd. ($8267.T): -19.1%, conf 84, sec 6%, ↑12mo momentum but ↓6mo momentum, a split tape. Takashimaya Company, Limited ($8233.T): -18.2%, conf 82, sec 9%, ↓downside risk and ↓12mo momentum. Consumer Cyclical, different momentum prints. ROHM Co., Ltd. ($6963.T): -17.3%, conf 85, univ 3%, sec 4%, ↓12mo momentum and ↑illiquidity. Sompo Holdings, Inc. ($8630.T): -16.7%, conf 85, univ 4%, sec 5%, ↓downside risk and ↓60d volatility. Lower beta profile, still negative. Teijin Limited ($3401.T): -16.3%, conf 86, sec 2%, ↓downside risk, ↑illiquidity.

Fast Retailing Co., Ltd. ($9983.T): -22.1%, conf 86, univ 0%, sec 3%, ↓12mo momentum and ↓downside risk. HOYA Corporation ($7741.T): -21.4%, conf 83, univ 1%, sec 8%, ↓downside risk and ↓illiquidity.