JAPAN ANALYTICS

The Japan Analytics App’s Heatmaps module divides the market’s 30  sectors into 328 ‘Peer Groups” based on the most recently disclosed segment data. This allows for a finer degree of aggregation and  insight and is a useful intermediate step before individual stock analysis.

Some Peer Groups are small in terms of number of constituents and total market value.  Peer Groups with a total market value of over ¥500b are highlighted. Scores are cap-weighted within each Peer Group.

As with Sector Scores, we shall review the trends for October in terms of Price Score, Volume Score and Results Score in 10 tables. For details of the Constituents of each Peer Group can be found in our App.

[Read more…]

The top large cap Annual Revision Scores for the week were:-

16 Nintendo
14 Tokyo Electron
13 SANYO DENKI
12 NITTO DENKO
12 NGK SPARK PLUG
11 TOKAI CARBON

The bottom large cap Annual Revision Scores for the week were:-

-9 Japan Exchange
-8 Murata Manufacturing
-5 Rengo
-4 NITTO BOSEKI
-4 Mitsubishi Heavy Industries
-4 EZAKI GLICO

The Japan Analytics Revision Score is a measure of the deviation of the most recent revision or initial forecast from the company’s previous forecast and/or its trailing twelve-month results. The score has a maximum of 20 and minimum of -20

The top large cap Results Scores for the week were:

26 ROHM
24 SHOWA
24 NITTO DENKO
24 Nintendo
24 Sumitomo Dainippon Pharma
22 Yamaha Motor

The bottom large cap Results Scores for the week were:

-13 OBIC BUSINESS CONSULTANTS
-12 Astellas Pharma
-12 Nankai Electric Railway
-11 FUJI MEDIA
-9 GungHo Online Entertainment
-8 SAPPORO

The top large cap 3 month change in Results Scores for the week were:

16 Electric Power Development
14 FUJI KYUKO
13 Mitsui Eng & Shipbuilding
13 NGK SPARK PLUG
13 Nippon Yusen
13 SHOWA

The bottom large cap 3 month change in Results Scores for the week were:

-22 EIZO
-14 SAPPORO
-14 Financial Products
-13 Nihon M & A Center
-10 Nankai Electric Railway
-10 Hankyu Hanshin

The Japan Analytics Results Score is a measure of earnings results and momentum which covers the last eight quarters of Revenue and Operating Income. The score has a maximum of 30 and minimum of -30. The Results Score is one of 40 factors that an be ranked and screened in our App.

The Japan Analytics App scores  all listed companies by (Relative) Price and Volume as well as Quarterly Results. Scores can then be aggregated by Sectors and Peer Groups to derive cap-weighted averages which can highlight  trends and outliers.

[Read more…]

Sector rotation is a feature of many markets and Japan is no exception.

For the last two years there have been three turning points for both the larger and smaller of the Japan Analytics 30 All Market Sectors two of which occurred in the early summer and one in December.

For larger sectors, the most volatile have been, FB&T, Banks, Non-Bank Finance, and Telecommunications which have been either a bottom 3 or top 3 large sector at least three times.

For smaller sectors the volatile sectors are Internet, Metals and REITs.

The best performing large sectors since January 2016 are Other Consumer Products, Chemicals and Technology Hardware, the worst being Banks, Autos and Non-Bank Finance. The best small sectors are Commercial Services, Restaurants and Building Materials and the worst are Multi-Industry, Utilities and Media.

The charts below show the cumulative percentage changes in sector market weights since January 2016.

Will there be another rotation turning point before year-end?