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IND-X Securities - Japanese Radar Screenings – Wednesday, 19 January 2011 A daily scan of the more active stocks to highlight early turning points, and momentum shifts … buy radar 4817 JUPITER TELECOM 5479 NIPPON METAL IN 9048 NAGOYA RAILROAD sell radar 2815 3231 4521 4569 4626 4974 6395 6463 6652 6762 6986 7241 7283 7522 7613 8803

ARIAKE JAPAN CO NOMURA REAL EST KAKEN PHARMACEU KYORIN HOLDINGS TAIYO HOLDINGS TAKARA BIO INC TADANO LTD TEIKOKU PISTON IDEC CORP TDK CORP FUTABA CORP/CHI FUTABA INDUSTRI AISAN INDUSTRY WATAMI CO LTD SIIX CORP HEIWA REAL ESTA

6310 6407 6460 6474 6501 7013 7832 8281 8336

ISEKI & CO LTD CKD CORP SEGA SAMMY HOLD NACHI-FUJIKOSHI HITACHI LTD IHI CORP NAMCO BANDAI HO XEBIO CO LTD MUSASHINO BANK

3231 3360 4188 4535 5007 5110 6395 6807 7251 7282 8263 8616

NOMURA REAL EST SHIP HEALTHCARE MITSUBISHI CHEM TAISHO PHARMACE COSMO OIL COMPA SUMITOMO RUBBER TADANO LTD JAPAN AVIATION KEIHIN CORP TOYODA GOSEI CO DAIEI INC TOKAI TOKYO FIN

new 12m intra-day highs

2131 ACCORDIA GOLF C

2871 3401 3407 4028 4403 4535 4613 4751 4755 5706 5714 5851 5949 6268 6371 6412 6460 6471 6472 6474 6501 6503 6586 6754 6925 7013 7259 7262 7272 8053 8801 8830 8879

1377 3401 4028 4092 4188 4208 4403 4617 4825 6460 6474 6621 7245 7516 7735 7942 9204 9424

SAKATA SEED COR TEIJIN LTD ISHIHARA SANGYO NIPPON CHEMICAL MITSUBISHI CHEM UBE INDUSTRIES NOF CORP CHUGOKU MARINE WEATHERNEWS INC SEGA SAMMY HOLD NACHI-FUJIKOSHI TAKAOKA ELECTRI DAIDO METAL CO KOHNAN SHOJI CO DAINIPPON SCREE JSP CORP SKYMARK AIRLINE JAPAN COMMUNICA

increasing volume - advances 3110 3401 3402 4005 4028 4751 4755 5706 5711 5713 5714 5851 5857

NITTO BOSEKI CO TEIJIN LTD TORAY INDUSTRIE SUMITOMO CHEMIC ISHIHARA SANGYO CYBERAGENT INC RAKUTEN INC MITSUI MINING & MITSUBISHI MATE SUMITOMO METAL DOWA HOLDINGS C RYOBI LTD ASAHI HOLDINGS

2212 2678 2871 3231 3269 4182 4183 4403 4902 6807 7832 7960 8218 8281 8410 8870 8951 8954 8959

increasing volume - declines

due a bounce

due a fall

aqr busters - pm volume pickup YAMAZAKI BAKING ASKUL CORP NICHIREI CORP NOMURA REAL EST ADVANCE RESIDEN MITSUBISHI GAS MITSUI CHEMICAL NOF CORP KONICA MINOLTA JAPAN AVIATION NAMCO BANDAI HO PARAMOUNT BED C KOMERI CO LTD XEBIO CO LTD SEVEN BANK LTD SUMITOMO REAL E NIPPON BUILDING ORIX JREIT INC NOMURA REAL EST

aqr busters - pm volume drop-off 3315 4028 5233 5701 5726 6310 6508 6621 6674 6703 7270 8303 8316 8356 8404

NICHIREI CORP TEIJIN LTD ASAHI KASEI COR ISHIHARA SANGYO NOF CORP TAISHO PHARMACE KANSAI PAINT CO CYBERAGENT INC RAKUTEN INC MITSUI MINING & DOWA HOLDINGS C RYOBI LTD UNIPRES CORP NABTESCO CORP TSUBAKIMOTO CHA HEIWA CORP SEGA SAMMY HOLD NSK LTD NTN CORP NACHI-FUJIKOSHI HITACHI LTD MITSUBISHI ELEC MAKITA CORP ANRITSU CORP USHIO INC IHI CORP AISIN SEIKI CO DAIHATSU MOTOR YAMAHA MOTOR CO SUMITOMO CORP MITSUI FUDOSAN SUMITOMO REALTY TOKYU LIVABLE I

NIPPON COKE & E ISHIHARA SANGYO TAIHEIYO CEMENT NIPPON LIGHT ME OSAKA TITANIUM ISEKI & CO LTD MEIDENSHA CORP TAKAOKA ELECTRI GS YUASA CORP OKI ELECTRIC IN FUJI HEAVY INDU SHINSEI BANK LT SUMITOMO MITSUI JUROKU BANK LTD MIZUHO TRUST &

closed at day's high [on volume] 2327 2651 3315 3401 3402 4005 4403 4684 4739 5471 5714 6135 6268 6269 6370 6444 6472 6480 6503 6754 8801 8840

new 12m intra-day lows 2131 ACCORDIA GOLF C 7459 MEDIPAL HOLDING

NS SOLUTIONS CO LAWSON INC NIPPON COKE & E TEIJIN LTD TORAY INDUSTRIE SUMITOMO CHEMIC NOF CORP OBIC CO LTD ITOCHU TECHNO-S DAIDO STEEL CO DOWA HOLDINGS C MAKINO MILLING NABTESCO CORP MODEC INC KURITA WATER IN SANDEN CORP NTN CORP NIPPON THOMPSON MITSUBISHI ELEC ANRITSU CORP MITSUI FUDOSAN DAIKYO INC

8956 PREMIER INVESTM 9787 AEON DELIGHT CO closed at day's low [on volume] 4502 4661 6768 7717 7952 8714 8803 9202

TAKEDA PHARMACE ORIENTAL LAND C TAMURA CORP V TECHNOLOGY CO KAWAI MUSICAL I SENSHU IKEDA HO HEIWA REAL ESTA ALL NIPPON AIRW

Top stocks / Winners 1964 2167 2497 3236 4028 4751 6145 6474 8237 8409

CHUGAI RO CO LT WEBMONEY CORP NGI GROUP INC PROPERST CO LTD ISHIHARA SANGYO CYBERAGENT INC NITTOKU ENGINEE NACHI-FUJIKOSHI MATSUYA CO LTD YACHIYO BANK LT

Laggards / Losers 2342 3843 3858 6461 8263 9478

TRANS GENIC INC FREEBIT CO LTD UBIQUITOUS CORP NIPPON PISTON R DAIEI INC SE HOLDINGS AND

10% Intra-day swingers – advances 1964 4028 4849 6145 8237

CHUGAI RO CO LT ISHIHARA SANGYO EN-JAPAN INC NITTOKU ENGINEE MATSUYA CO LTD

10% Intra-day swingers – declines 3843 FREEBIT CO LTD 6672 RAYTEX CORP 9424 JAPAN COMMUNICA Top 10 value traded – [$2.81bn –0.05bn] 4028 4751 6501 6502 7203 8306 8316 8411 8591 9984

ISHIHARA SANGYO CYBERAGENT INC HITACHI LTD TOSHIBA CORP TOYOTA MOTOR CO MITSUBISHI UFJ SUMITOMO MITSUI MIZUHO FINANCIA ORIX CORP SOFTBANK CORP

#6501 Hitachi – closed at Y465, up 4% on 86.8mn shares [cf. 50mn avg] – MS raised its target price to Y500 [Y400] and IBM’s 4Q profits and sales topped analysts’s estimates. Hitachi trades at 9.5x Mar2012 TK ests. The long-term [10-yr] 6501/TPX ratio of 0.4963 is just 0.4 sds below the 10-yr mean. In the short-term, Hitachi has outperformed TPX by almost 18% since late Oct 2010, and the TPELMH sector by almost 19%. The long-term 6501/TPX relative is still neutral and the stock price is now back at levels last seen Dec 2008.

hilary.persent@indxsecurties.com - +44 20 7826 9063

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JAN192011RADAR  

3110 NITTO BOSEKI CO 3401 TEIJIN LTD 3402 TORAY INDUSTRIE 4005 SUMITOMO CHEMIC 4028 ISHIHARA SANGYO 4751 CYBERAGENT INC 4755 RAKUTEN INC 570...

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