Nuclear Hidden Gems

Report Date: 2026-04-11 | Holdings: 5 | Theme: nuclear_energy | Top-3: 60.0% | HHI: 0.2 (~5.0 effective names)

Portfolio with 5 holdings (0 HIGH conviction). Theme: Nuclear / Energy. Nuclear restart and energy transition value chain

2. Macro Context

Nuclear / Energy: Nuclear restart and energy transition value chain

3. Comparison Table

Fundamentals from yfinance. Forward PE must be verified against StockAnalysis.com for Japanese mid/small-caps (known yfinance data quality issue).

Stock	Ticker	Wt	Conv	PE	Fwd PE	P/B	ROE	OpM	D/E	DY	FCF
Mitsubishi Heavy	7011.T	20.0%	MED	55.9	49.1	5.76	—	10.0%	35%	0.5%	—
Kansai Electric	9503.T	20.0%	MED	6.8	8.0	0.87	12.4%	11.8%	127%	3.4%	—
Tokyo Electric (TEPCO)	9501.T	20.0%	MED	—	3.0	0.33	-21.5%	2.8%	211%	—	—
IHI	7013.T	20.0%	MED	28.7	6.1	6.60	23.6%	7.3%	108%	0.6%	+¥102B
Kyushu Electric	9508.T	20.0%	MED	5.0	11.0	0.76	16.8%	8.9%	283%	2.8%	—

4. Stock-by-Stock: Why This Stock, Why This Weight

7011.T — Mitsubishi Heavy — 20.0% MEDIUM

55.9x

49.1x

Fwd PE

10.0%

Op Margin

35%

D/E

0.5%

Yield

9503.T — Kansai Electric — 20.0% MEDIUM

6.8x

8.0x

Fwd PE

12.4%

ROE

11.8%

Op Margin

127%

D/E

3.4%

Yield

9501.T — Tokyo Electric (TEPCO) — 20.0% MEDIUM

3.0x

Fwd PE

-21.5%

ROE

2.8%

Op Margin

211%

D/E

7013.T — IHI — 20.0% MEDIUM

28.7x

6.1x

Fwd PE

23.6%

ROE

7.3%

Op Margin

108%

D/E

0.6%

Yield

9508.T — Kyushu Electric — 20.0% MEDIUM

5.0x

11.0x

Fwd PE

16.8%

ROE

8.9%

Op Margin

283%

D/E

2.8%

Yield

5. Portfolio Construction

Holdings

60.0%

Top-3

0.2

HHI

~5.0

Eff. Names

Layer / Sector Breakdown

Layer	Weight	Stocks
Uncategorized	100.0%

Weights Table

Stock	Ticker	Weight	Conviction	Rationale
Mitsubishi Heavy	7011.T	20.0%	MEDIUM	—
Kansai Electric	9503.T	20.0%	MEDIUM	—
Tokyo Electric (TEPCO)	9501.T	20.0%	MEDIUM	—
IHI	7013.T	20.0%	MEDIUM	—
Kyushu Electric	9508.T	20.0%	MEDIUM	—

Rebalancing Rules: Quarterly review (Jun, Sep, Dec, Mar). Semiannual rebalance (Jun 30 + Dec 31). Drift control: rebalance if any position deviates >25% from target. Cut 25-50% if: fwd PE expands >50% without earnings revision, D/E worsens >0.3, or FCF negative for 2+ periods.

6. Future Plan

Earnings Calendar

Date	Company	What to Watch
2026-04-29	Tokyo Electric (TEPCO)	Earnings announcement for 9501.T
2026-04-30	Kansai Electric	Earnings announcement for 9503.T
2026-04-30	Kyushu Electric	Earnings announcement for 9508.T
2026-05-08	Mitsubishi Heavy	Earnings announcement for 7011.T
2026-05-08	IHI	Earnings announcement for 7013.T

Rebalance Dates

2026-06-30

8. Data Quality Notes

Fundamentals sourced from yfinance — fetched at pipeline run time
Forward PE must be verified against StockAnalysis.com for Japanese mid/small-caps (known to be unreliable in yfinance)
Supply chain evidence is dated — links >12 months old should be re-verified before citing as current
Portfolio limits enforced: no single position >20%, top-3 <50% (current: 60.0%)
Refer to templates/equity_peer_comparison_template_full.md for the complete 24-section research framework

9. Sources

Data	Source	Date
Stock fundamentals	Yahoo Finance (yfinance)	2026-04-11
Stock universe	J-Quants API (JPX)	Synced periodically
Key dates	yfinance earnings calendar + manual catalysts	2026-04-11
DD narrative	Qwen 3.5 via Ollama (local LLM)	Pipeline run
Research framework	Equity Peer Comparison Template (24 sections)	Reference

Auto-generated by JPstock-agent pipeline | 2026-04-11
Follows Equity Peer Comparison framework — see templates/equity_peer_comparison_template_full.md for full 24-section reference
AI-assisted research, not investment advice