What Worked Japan - 03 Feb 2017 - Slight move away from high Beta names and into Quality

What Worked – Slight sell-off in high Beta names and names with a high % of Institutional Investors this week. Both factors turned positive this week after three weeks of underperformance. High Beta names that did not do well were Nippon Steel Glass (5202) down 15%, Konica Minolta (4902) down 12% and Mitsubishi Heavy Industries (7011) down 11%. Names with a high % of Institutional Investors that went down were Hokuriku Electric (9505) down 11%, Tokyo Ohka Kogyo (4186) down 11% and Fuji Heavy (7270) down 10%.

Low Debt to Equity names did well this week. Looking back, low Debt to Equity name have not done well since the middle of last December. This week Canon Marketing Japan (8060) is up 13%, Chugai Pharma (4519) is up 11% and Itochu Techno-Solutions (4739) is up 8%. There was also a slight selloff in low PE name this week.

Who Moved – Despite Chinese New Year this week 32 names moved on volume. On the positive side, MonotaRO Co (3064) is up 25%, Yakult Honsha (2267) is up 15% and Start Today (3092) is up 14%. On the other side, Kakaku.com (2371) is down 22%, NEC (6701) is down 17% and Capcom (9697) is down 13%. All moved on strong volume.


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