The scan is bearish. Top 10 all negative 6m, -23.3% to -16.7%, median confidence 84. The common drag is earnings yield vs bonds in 10 of 10. Not a stock-specific story. All sit univ 0-4%, sec 2-15%. C

HOYA Corporation ($7741.T) -23.3% conf 83, univ 0%, sec 8%: ↓yield vs bonds, ↓downside risk, ↓illiquidity. Fast Retailing Co., Ltd. ($9983.T) -21.7% conf 86, univ 1%, sec 3%: ↓yield vs bonds, ↓12mo mom, ↓illiquidity. Both top-decile ranks. Different second drivers. Shin-Etsu Chemical Co., Ltd. ($4063.T) -20.4% conf 85: ↓yield vs bonds, ↓downside risk, ↓illiquidity. Takeda Pharmaceutical Company Limited ($4502.T) -20.3% conf 78: ↓yield vs bonds, ↓downside risk, ↓12mo mom. Nearly identical. Takeda is sec 15% vs Shin-Etsu sec 5%. Takashimaya Company, Limited ($8233.T) -19.5% conf 84: ↓yield, ↓downside risk, ↓12mo mom. ROHM Co., Ltd. ($6963.T) -19.4% conf 85: ↓yield, ↓12mo mom, ↓6mo mom. Aeon Co., Ltd. ($8267.T) -17.8% conf 82: ↓yield, ↑12mo mom, ↓6mo mom. Consumer Cyclical is 3 of 10. Fujikura Ltd. ($5803.T) -17.3% conf 86: ↓yield, ↑downside risk, ↓12mo mom. SoftBank Corp. ($9434.T) -17.2% conf 82: ↓yield, ↓downside risk, ↓60d vol. Teijin Limited ($3401.T) -16.7% conf 86: ↓yield, ↓downsid

HOYA Corporation ($7741.T) -23.3% conf 83, univ 0%, sec 8%: ↓yield vs bonds, ↓downside risk, ↓illiquidity. Fast Retailing Co., Ltd. ($9983.T) -21.7% conf 86, univ 1%, sec 3%: ↓yield vs bonds, ↓12mo mo