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IND-X Securities - Japanese Radar Screenings – Tuesday, 26 June 2012 A daily scan of the more active stocks to highlight early turning points, and momentum shifts …

#BULL/BEAR - It was nice while it lasted ... but the rally has started to peter out: 2 sub-sectors [TPMINN and TPELEC] have slipped back into BEAR trends. 49 stocks are in BEAR

trends with just 17 stocks in pure BULL trends. buy radar none sell radar

6996 7732 8308 8955

NICHICON CORP TOPCON CORP RESONA HOLDINGS JAPAN PRIME REA

5632 7211 8951 9076

MITSUBISHI STEE MITSUBISHI MOTO NIPPON BUILDING SEINO HOLDINGS

new 12m intra-day highs

Top stocks / Winners

9503 KANSAI ELECTRIC 9507 SHIKOKU ELECTRI 9792 NICHII GAKKAN C

1414 2784 3249 3265 3349 5105 7606 7860

due a fall

new 12m intra-day lows

2281 2766 3265 3606 3845 4651 6801 6985 7122 8029

1414 2466 3249 3265 3349 4553 6727 7740 8242 9435 9984 9987

9503 KANSAI ELECTRIC

Laggards / Losers

aqr busters - pm volume pickup

2121 3858 4813 5214 5310 5912 6640 6723 6996 9427

1721 COMSYS HOLDINGS 2331 SOHGO SECURITY 2802 AJINOMOTO CO IN due a bounce

SHO-BOND HOLDIN PGM HOLDINGS K INDUSTRIAL & IN HULIC CO LTD COSMOS PHARMACE TOWA PHARMACEUT WACOM CO LTD TAMRON CO LTD H2O RETAILING C HIKARI TSUSHIN SOFTBANK CORP SUZUKEN CO LTD

increasing volume - advances 1883 2602 3116 3265 5105 7832 7860 8233 8410 8951

MAEDA ROAD CONS NISSHIN OILLIO TOYOTA BOSHOKU HULIC CO LTD TOYO TIRE & RUB NAMCO BANDAI HO AVEX GROUP HOLD TAKASHIMAYA CO SEVEN BANK LTD NIPPON BUILDING

increasing volume - declines 2466 2579 2702 3028 3401 4063 4307 4553 4555 4985 5012 5101 6971

PGM HOLDINGS K COCA-COLA WEST MCDONALD'S HOLD ALPEN CO LTD TEIJIN LTD SHIN-ETSU CHEMI NOMURA RESEARCH TOWA PHARMACEUT SAWAI PHARMACEU EARTH CHEMICAL TONENGENERAL SE YOKOHAMA RUBBER KYOCERA CORP

1881 2413 3265 4021 4555 6952 7205 8332 9766

SHO-BOND HOLDIN ALFRESA HOLDING INDUSTRIAL & IN HULIC CO LTD COSMOS PHARMACE TOYO TIRE & RUB UNITED ARROWS L AVEX GROUP HOLD

NIPPO CORP M3 INC HULIC CO LTD NISSAN CHEMICAL SAWAI PHARMACEU CASIO COMPUTER HINO MOTORS LTD BANK OF YOKOHAM KONAMI CORP

2371 KAKAKU.COM INC 7261 MAZDA MOTOR COR 9501 TOKYO ELECTRIC

2766 3265 3606 3845 8029

closed at day's high [on volume] 2281 4661 4732 4739 5233 7012 8179 8544 8840 9001 9041 9042 9531

PRIMA MEAT PACK ORIENTAL LAND C USS CO LTD ITOCHU TECHNO-S TAIHEIYO CEMENT KAWASAKI HEAVY ROYAL HOLDINGS KEIYO BANK LTD/ DAIKYO INC TOBU RAILWAY CO KINTETSU CORP HANKYU HANSHIN TOKYO GAS CO LT

3249 3349 8410 9627

PRIMA MEAT PACK JAPAN WIND DEVE HULIC CO LTD RENOWN INC I-FREEK INC SANIX INC TOKO INC U-SHIN LTD KINKI SHARYO CO LOOK INC

none In the clouds - Nikkei225 - BULL stocks

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JAPAN WIND DEVE HULIC CO LTD RENOWN INC I-FREEK INC LOOK INC

10% Intra-day swingers - declines 3858 UBIQUITOUS CORP 4813 ACCESS CO LTD 5912 JAPAN BRIDGE CO Top 10 value traded - [$2.00bn 0.07bn] 6501 6752 6762 7201 7203 7267 7751 8306 8316 9984

closed at day's low [on volume] 5012 TONENGENERAL SE 5407 NISSHIN STEEL C 5480 NIPPON YAKIN KO

HITACHI LTD PANASONIC CORP TDK CORP NISSAN MOTOR CO TOYOTA MOTOR CO HONDA MOTOR CO CANON INC MITSUBISHI UFJ SUMITOMO MITSUI SOFTBANK CORP

INDUSTRIAL & IN COSMOS PHARMACE SEVEN BANK LTD AIN PHARMACIEZ

AT/NEAR All-time LOWS

MIXI INC UBIQUITOUS CORP ACCESS CO LTD NIPPON ELECTRIC TOYO TANSO CO L JAPAN BRIDGE CO DAI-ICHI SEIKO RENESAS ELECTRO NICHICON CORP EACCESS LTD

10% Intra-day swingers unchanged and advances

aqr busters - pm volume drop-off

AT/NEAR All-time HIGHS

6703 7731 7270 5101 5232 9984 4519 6841 1925 9009 9531 2269 4503 4523 9062 2871 9064

OKI ELECTRIC IND NIKON CORP FUJI HEAVY INDUS YOKOHAMA RUBBER SUMITOMO OSAKA SOFTBANK CORP CHUGAI PHARMA CO YOKOGAWA ELEC DAIWA HOUSE INDU KEISEI ELEC RAIL TOKYO GAS CO LTD MEIJI HD ASTELLAS PHARMA EISAI CO LTD NIPPON EXPRESS NICHIREI CORP YAMATO HOLDINGS

In the clouds - Nikkei225 - BEAR stocks [bottom 10] 5214 6753 6302 5631 9503 1332 4901 6472 5301 4188 4183 4911 6773 5541 5706 7735 9501 4005 3407 1605

NIPPON ELEC GLAS SHARP CORP SUMITOMO HEAVY JAPAN STEEL WORK KANSAI ELEC PWR NIPPON SUISAN FUJIFILM HOLDING NTN CORP TOKAI CARBON CO MITSUBISHI CHEMI MITSUI CHEMICALS SHISEIDO CO LTD PIONEER CORP PAC METALS CO MITSUI MINING & DAINIPPON SCREEN TOKYO ELECTRIC P SUMITOMO CHEM CO ASAHI KASEI CORP INPEX CORP

#2602 NISSHIN OILLIO – up 2.6% on 1mn shares – ie. almost 3x normal – no news or analysts’ updates – Nisshin Oillio is trading just 7% below the average analysts’ Y345 target price. It trades at 0.5x book, and 17x Mar2014 TK ests. Is there a trade off between the outperforming 2802 Ajinomoto and 2602 Nisshin Oillio? The 2802 2602 spread is at lows not seen since late 2007. Ajinomoto is up 13% over the last 12 months whilst Nisshin Oillio is DOWN 18%.

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

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JUNE262012RADAR