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26.03.

2013

Option Implied Volatility Skew Parameters by Terms:


2
IVt = atx + btx + ct

At The Money Implied Volatilities by Terms

TOPIX 1000 Index - TPX1000

Ticker

Name

GICS_SECTOR_NAME

ATM Ref

Dividend
Yield

Next ExDividend
Date

Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew
ATM Vol - ATM Vol - ATM Vol - ATM Vol - ATM Vol - ATM Vol - ATM Vol (a) (a) (a) (a) (a) (a) (a) (b) (b) (b) (b) (b) (b) (b) 30D
60D
90D
6M
12M
18M
24M
30D
60D
90D
6M
12M
18M
24M
30D
60D
90D
6M
12M
18M
24M

7203 JT Equity

TOYOTA MOTOR CORP

Consumer Discretionary

4910.00

1.32%

27.03.2013

30.04

28.41

27.20

-0.112 -0.096 -0.037

0.002

8306 JT Equity

MITSUBISHI UFJ FINANCIAL GRO

Financials

562.00

2.14%

26.09.2013

35.64

35.09

35.69

-0.134 -0.087 -0.065

0.002 -0.004 -0.005

7267 JT Equity

HONDA MOTOR CO LTD

Consumer Discretionary

3640.00

2.17%

26.06.2013

29.82

30.82

32.23

-0.100 0.028

0.186

0.003

8316 JT Equity

SUMITOMO MITSUI FINANCIAL GR

Financials

3900.00

2.95%

26.09.2013

35.18

36.15

38.18

-0.201 0.130

0.446

0.005 -0.002 -0.006

8411 JT Equity

MIZUHO FINANCIAL GROUP INC

Financials

207.00

2.90%

26.09.2013

35.33

33.03

31.18

-0.031 0.037

0.113

0.008 -0.002 -0.006

7751 JT Equity

CANON INC

Information Technology

3495.00

3.43%

26.06.2013

31.34

31.58

32.28

-0.151 -0.057 0.012

0.004 -0.004 -0.012

4502 JT Equity

TAKEDA PHARMACEUTICAL CO LTD

Health Care

5250.00

3.43%

26.09.2013

21.14

21.24

21.85

-0.096 0.015

0.139

0.010 -0.001 -0.004

2914 JT Equity

JAPAN TOBACCO INC

Consumer Staples

3025.00

1.98%

26.09.2013

31.70

34.75

38.38

-0.095 0.006

0.055

9984 JT Equity

SOFTBANK CORP

Telecommunication Services3975.00

1.01%

26.09.2013

37.90

38.82

40.09

-0.101 -0.103 -0.150

0.003 -0.004 -0.010

8802 JT Equity

MITSUBISHI ESTATE CO LTD

Financials

2596.00

0.54%

26.09.2013

39.86

41.69

45.34

-0.129 -0.117 -0.123

-0.001 -0.004 -0.012

9432 JT Equity

NIPPON TELEGRAPH & TELEPHONE

Telecommunication Services4190.00

3.82%

26.09.2013

21.53

21.60

21.99

-0.016 0.002

0.002 -0.005 -0.012

6954 JT Equity

FANUC CORP

Industrials

14780.00

1.29%

27.03.2013

36.70

35.76

35.52

-0.116 -0.022 0.052

0.000

9020 JT Equity

EAST JAPAN RAILWAY CO

Industrials

7800.00

1.47%

26.09.2013

26.89

33.09

40.16

-0.084 -0.114 -0.177

0.004 -0.016 -0.034

8058 JT Equity

MITSUBISHI CORP

Industrials

1828.00

2.74%

26.09.2013

25.28

21.70

18.06

-0.038 -0.058 0.003

0.008

0.004

0.005

6501 JT Equity

HITACHI LTD

Information Technology

556.00

1.89%

26.09.2013

34.13

32.05

31.33

-0.205 -0.070 0.034

0.003

0.002

0.003

3382 JT Equity

SEVEN & I HOLDINGS CO LTD

Consumer Staples

3035.00

2.17%

28.08.2013

26.71

29.74

34.39

-0.144 -0.185 -0.262

0.004 -0.008 -0.018

8801 JT Equity

MITSUI FUDOSAN CO LTD

Financials

2631.00

0.84%

26.09.2013

36.83

38.51

42.03

-0.061 -0.021 -0.006

-0.001 -0.014 -0.029

9437 JT Equity

NTT DOCOMO INC

Telecommunication Services
147400.00

4.07%

26.09.2013

17.87

16.55

14.61

-0.106 -0.056 0.005

0.009

4063 JT Equity

SHIN-ETSU CHEMICAL CO LTD

Materials

6370.00

1.57%

26.09.2013

31.26

31.43

32.08

-0.175 -0.092 -0.076

0.006 -0.003 -0.009

4503 JT Equity

ASTELLAS PHARMA INC

Health Care

5130.00

2.53%

26.09.2013

23.36

23.21

23.13

-0.066 0.044

0.158

0.007 -0.002 -0.007

8604 JT Equity

NOMURA HOLDINGS INC

Financials

585.00

0.68%

27.03.2013

38.02

33.52

29.02

-0.131 0.002

0.195

0.004

0.005

0.003

8031 JT Equity

MITSUI & CO LTD

Industrials

1382.00

3.69%

26.09.2013

24.69

22.58

20.65

-0.145 -0.085 -0.078

0.009

0.004

0.005

7201 JT Equity

NISSAN MOTOR CO LTD

Consumer Discretionary

927.00

2.75%

26.09.2013

33.74

32.16

30.78

-0.119 -0.034 0.061

0.003 -0.004 -0.009

6301 JT Equity

KOMATSU LTD

Industrials

2306.00

1.99%

26.09.2013

31.59

29.54

27.77

-0.151 -0.027 0.102

0.004

0.007

0.011

9433 JT Equity

KDDI CORP

Telecommunication Services7630.00

2.29%

26.09.2013

24.32

23.88

23.55

-0.121 -0.106 -0.151

0.004

0.004

0.006

8766 JT Equity

TOKIO MARINE HOLDINGS INC

Financials

2774.00

1.98%

26.09.2013

34.29

33.90

34.18

-0.228 -0.031 0.097

0.005 -0.005 -0.014

5401 JT Equity

NIPPON STEEL & SUMITOMO META

Materials

239.00

1.26%

26.09.2013

38.33

37.19

36.39

-0.066 -0.005 0.071

0.004

0.005

0.009

6758 JT Equity

SONY CORP

Consumer Discretionary

1666.00

1.50%

27.03.2013

44.25

49.78

56.58

-0.101 -0.132 -0.151

0.003

0.002

0.000

6902 JT Equity

DENSO CORP

Consumer Discretionary

4095.00

1.32%

26.09.2013

31.78

34.33

37.79

-0.193 -0.126 -0.115

0.003 -0.005 -0.012

5108 JT Equity

BRIDGESTONE CORP

Consumer Discretionary

3080.00

1.75%

26.06.2014

34.75

36.25

38.65

-0.235 -0.095 0.021

0.001 -0.019 -0.040

8001 JT Equity

ITOCHU CORP

Industrials

1202.00

3.33%

26.09.2013

24.51

26.90

29.71

-0.083 -0.042 -0.080

0.008 -0.003 -0.006

6502 JT Equity

TOSHIBA CORP

Information Technology

475.00

1.68%

26.09.2013

36.56

37.43

38.64

-0.151 -0.049 -0.020

0.002 -0.001 -0.002

8309 JT Equity

SUMITOMO MITSUI TRUST HOLDIN

Financials

444.00

2.31%

26.09.2013

35.69

35.33

35.22

-0.059 0.008

0.005

7011 JT Equity

MITSUBISHI HEAVY INDUSTRIES

Industrials

525.00

0.95%

26.09.2013

32.64

28.02

23.37

0.039

0.018

8830 JT Equity

SUMITOMO REALTY & DEVELOPMNT

Financials

3670.00

0.54%

26.09.2013

44.30

43.42

41.60

-0.194 -0.207 -0.199

-0.005 -0.003 -0.002

4452 JT Equity

KAO CORP

Consumer Staples

3105.00

2.06%

26.06.2014

21.62

22.30

23.21

-0.141 -0.029 0.000

0.009

9022 JT Equity

CENTRAL JAPAN RAILWAY CO

Industrials

10020.00

1.05%

26.09.2013

18.40

23.19

28.55

-0.050 0.059

0.120

0.012 -0.004 -0.008

6752 JT Equity

PANASONIC CORP

Consumer Discretionary

673.00

26.09.2013

42.12

35.22

28.86

-0.089 0.034

0.185

0.000 -0.002 -0.005

6326 JT Equity

KUBOTA CORP

Industrials

1373.00

1.24%

26.09.2013

30.67

30.96

31.58

-0.054 0.007

0.017

0.004

0.003

0.006

6503 JT Equity

MITSUBISHI ELECTRIC CORP

Industrials

760.00

1.58%

26.09.2013

31.05

31.81

32.99

0.018 -0.026 -0.076

0.004

0.004

0.010

6971 JT Equity

KYOCERA CORP

Information Technology

8910.00

1.35%

27.03.2013

28.42

29.85

31.53

-0.205 -0.139 -0.123

0.006 -0.002 -0.011

8053 JT Equity

SUMITOMO CORP

Industrials

1244.00

3.86%

26.09.2013

22.20

20.47

18.42

-0.074 0.011

0.052

0.015

6981 JT Equity

MURATA MANUFACTURING CO LTD

Information Technology

6890.00

1.60%

26.09.2013

34.52

36.76

39.52

0.045

0.030

0.000 -0.005 -0.009

2503 JT Equity

KIRIN HOLDINGS CO LTD

Consumer Staples

1498.00

2.40%

26.06.2014

30.63

30.34

32.24

-0.081 -0.095 -0.170

0.002 -0.005 -0.010

6861 JT Equity

KEYENCE CORP

Information Technology

28640.00

0.14%

18.09.2013

25.53

25.24

25.17

-0.030 0.004

0.000

0.000

1605 JT Equity

INPEX CORP

Energy

500000.00

1.30%

26.09.2013

30.55

29.97

29.83

-0.128 -0.049 -0.018

-0.002 0.008

0.018

4578 JT Equity

OTSUKA HOLDINGS CO LTD

Health Care

3265.00

1.53%

26.09.2013

8750 JT Equity

DAI-ICHI LIFE INSURANCE

Financials

125300.00

1.28%

27.03.2014

36.71

36.31

36.23

0.001

0.000

0.000

8601 JT Equity

DAIWA SECURITIES GROUP INC

Financials

662.00

1.96%

27.03.2013

35.49

38.29

41.55

-0.024 0.002 -0.003

0.002 -0.007 -0.014

5020 JT Equity

JX HOLDINGS INC

Energy

542.00

2.95%

26.09.2013

30.61

28.17

25.77

-0.007 0.062

0.128

0.005

8725 JT Equity

MS&AD INSURANCE GROUP HOLDIN

Financials

2118.00

2.55%

26.09.2013

40.79

42.31

44.33

0.006

0.385

0.000 -0.010 -0.020

8591 JT Equity

ORIX CORP

Financials

11990.00

0.75%

27.03.2013

31.65

37.27

43.66

-0.001 -0.026 -0.053

0.000 -0.003 -0.006

4568 JT Equity

DAIICHI SANKYO CO LTD

Health Care

1850.00

3.51%

26.09.2013

20.28

22.20

24.69

-0.085 0.002

0.099

0.015

0.000 -0.004

8002 JT Equity

MARUBENI CORP

Industrials

754.00

3.32%

26.09.2013

26.52

28.24

30.32

-0.102 0.146

0.288

0.005

0.000

9531 JT Equity

TOKYO GAS CO LTD

Utilities

508.00

1.87%

26.09.2013

20.39

22.12

24.17

-0.040 -0.045 -0.122

0.022 -0.001 -0.005

9983 JT Equity

FAST RETAILING CO LTD

Consumer Discretionary

30150.00

0.93%

26.02.2014

42.69

49.08

58.36

0.042

0.201

0.415

0.001 -0.008 -0.019

7974 JT Equity

NINTENDO CO LTD

Information Technology

10410.00

0.96%

27.03.2014

37.12

39.43

42.06

-0.026 0.111

0.232

0.002 -0.006 -0.012

6273 JT Equity

SMC CORP

Industrials

18000.00

0.21%

26.09.2013

29.62

29.32

29.27

-0.018 0.002

0.003

0.001

4523 JT Equity

EISAI CO LTD

Health Care

4330.00

3.46%

26.09.2013

17.63

21.01

24.68

-0.172 -0.059 -0.052

0.008 -0.001 -0.003

9735 JT Equity

SECOM CO LTD

Industrials

4970.00

2.01%

27.03.2014

23.20

25.38

28.02

-0.034 -0.048 -0.078

0.009 -0.003 -0.007

3402 JT Equity

TORAY INDUSTRIES INC

Materials

646.00

1.55%

26.09.2013

25.83

25.52

25.59

-0.078 0.208

0.453

0.012

0.011

0.022

1925 JT Equity

DAIWA HOUSE INDUSTRY CO LTD

Financials

1856.00

1.62%

27.03.2014

25.93

27.95

30.06

-0.091 -0.193 -0.325

0.008

0.002

0.002

6367 JT Equity

DAIKIN INDUSTRIES LTD

Industrials

3745.00

0.99%

26.09.2013

35.93

35.40

35.33

-0.218 -0.080 0.016

0.000

0.000

0.000

8308 JT Equity

RESONA HOLDINGS INC

Financials

503.00

2.39%

27.03.2014

35.66

46.04

57.48

0.007

0.792

0.004 -0.012 -0.025

2502 JT Equity

ASAHI GROUP HOLDINGS LTD

Consumer Staples

2230.00

1.93%

26.06.2014

23.15

23.82

25.03

-0.123 -0.114 -0.132

0.009 -0.003 -0.006

4661 JT Equity

ORIENTAL LAND CO LTD

Consumer Discretionary

15520.00

0.74%

26.09.2013

20.45

20.19

20.15

-0.091 0.003

0.004

0.005

5411 JT Equity

JFE HOLDINGS INC

Materials

1789.00

1.68%

26.09.2013

44.69

47.26

49.84

-0.111 0.152

0.388

-0.002 -0.019 -0.038

6988 JT Equity

NITTO DENKO CORP

Materials

5520.00

1.63%

26.09.2013

32.60

32.18

32.03

0.008 -0.053 -0.115

0.001

0.010

0.021

7270 JT Equity

FUJI HEAVY INDUSTRIES LTD

Consumer Discretionary

1464.00

0.68%

26.09.2013

7269 JT Equity

SUZUKI MOTOR CORP

Consumer Discretionary

2169.00

0.74%

26.09.2013

30.26

26.80

23.24

-0.200 -0.107 -0.013

0.005

0.004

0.005

8630 JT Equity

NKSJ HOLDINGS INC

Financials

2055.00

2.92%

27.03.2014

33.74

36.84

40.55

0.020

0.002 -0.003 -0.006

7261 JT Equity

MAZDA MOTOR CORP

Consumer Discretionary

280.00

27.03.2014

46.01

43.24

40.51

-0.155 -0.276 -0.347

0.025

0.007

0.004

7741 JT Equity

HOYA CORP

Information Technology

1798.00

3.89%

27.03.2013

22.04

20.53

19.11

0.109

0.006

0.002

0.005

1928 JT Equity

SEKISUI HOUSE LTD

Consumer Discretionary

1291.00

2.79%

29.07.2014

30.53

40.91

52.28

-0.058 -0.208 -0.433

0.003 -0.018 -0.037

4901 JT Equity

FUJIFILM HOLDINGS CORP

Information Technology

1900.00

2.11%

26.09.2013

29.13

29.72

29.25

-0.175 0.135

0.003 -0.001 -0.003

5802 JT Equity

SUMITOMO ELECTRIC INDUSTRIES

Industrials

1146.00

1.83%

26.09.2013

31.14

28.57

26.31

-0.128 -0.137 -0.130

0.007

9005 JT Equity

TOKYU CORP

Industrials

714.00

0.91%

26.09.2013

30.56

30.27

30.17

-0.067 0.018

0.004 -0.001 0.000

7731 JT Equity

NIKON CORP

Consumer Discretionary

2249.00

0.98%

26.09.2013

37.79

36.34

33.38

-0.191 -0.026 0.118

0.005

0.005

0.007

3407 JT Equity

ASAHI KASEI CORP

Materials

636.00

2.36%

26.09.2013

23.62

25.37

27.56

-0.067 0.023

0.016

0.002

0.001

9041 JT Equity

KINTETSU CORP

Industrials

456.00

1.10%

27.03.2014

2802 JT Equity

AJINOMOTO CO INC

Consumer Staples

1378.00

1.16%

26.09.2013

22.54

24.78

26.10

-0.111 -0.057 -0.095

0.013 -0.005 -0.011

8267 JT Equity

AEON CO LTD

Consumer Staples

1153.00

2.08%

28.08.2013

18.29

19.70

21.24

-0.208 -0.109 -0.096

0.015

0.001 -0.004

9202 JT Equity

ALL NIPPON AIRWAYS CO LTD

Industrials

203.00

1.97%

27.03.2014

25.26

25.36

25.15

-0.008 -0.011 -0.004

0.021

0.003

9532 JT Equity

OSAKA GAS CO LTD

Utilities

410.00

2.07%

26.09.2013

20.32

21.47

22.91

-0.229 -0.147 -0.179

0.015

0.000 -0.006

9021 JT Equity

WEST JAPAN RAILWAY CO

Industrials

4605.00

2.28%

26.09.2013

25.50

30.26

35.60

-0.067 0.047

0.094

0.003 -0.006 -0.013

9201 JT Equity

JAPAN AIRLINES CO LTD

Industrials

4555.00

3.95%

9007 JT Equity

ODAKYU ELECTRIC RAILWAY CO

Industrials

1189.00

0.63%

6702 JT Equity

FUJITSU LTD

Information Technology

395.00

8795 JT Equity

T&D HOLDINGS INC

Financials

1117.00

5713 JT Equity

SUMITOMO METAL MINING CO LTD

Materials

1371.00

9042 JT Equity

HANKYU HANSHIN HOLDINGS INC

Industrials

1878 JT Equity

DAITO TRUST CONSTRUCT CO LTD

9502 JT Equity
8035 JT Equity
8332 JT Equity

0.011

0.037

0.003

0.185

0.383

0.006
0.009

0.049

0.005

0.004

0.009
0.009
0.393
0.004
0.077

0.005

0.010

0.000 -0.004

0.001 -0.005 -0.011

0.000 -0.001

0.001 -0.001

0.003

0.000

0.000

0.003

0.008

0.016

0.002

0.000

0.004

0.000
0.001

0.000

0.000

0.008

0.000

0.007

0.001

0.000

0.000

0.000

0.013

0.000

20.01

19.93

19.91

-0.044 0.013

0.012

0.003

0.000

0.000

26.09.2013

36.86

37.02

37.57

0.007

0.187

0.387

0.001

0.002

0.005

2.01%

27.03.2014

40.63

39.45

38.54

0.009

0.006

0.009

0.000

0.000

0.000

2.04%

26.09.2013

32.36

33.91

35.07

-0.089 -0.023 0.071

0.003

0.002

0.003

576.00

0.87%

27.03.2014

Financials

8370.00

3.80%

26.09.2013

CHUBU ELECTRIC POWER CO INC

Utilities

1159.00

4.31%

26.09.2013

39.78

27.36

14.40

0.002

0.197

0.409

0.000

0.009

0.019

TOKYO ELECTRON LTD

Information Technology

4050.00

0.89%

26.09.2013

36.24

36.41

36.90

-0.140 0.004

0.120

0.002 -0.003 -0.007

BANK OF YOKOHAMA LTD/THE

Financials

540.00

1.85%

26.09.2013

9503 JT Equity

KANSAI ELECTRIC POWER CO INC

Utilities

828.00

26.09.2013

42.48

39.62

34.25

-0.054 0.138

0.314

0.002 -0.005 -0.013

7202 JT Equity

ISUZU MOTORS LTD

Consumer Discretionary

579.00

1.38%

26.09.2013

32.83

32.89

30.10

-0.179 -0.206 -0.232

0.005 -0.001 0.002

5201 JT Equity

ASAHI GLASS CO LTD

Industrials

648.00

4.01%

26.06.2014

32.60

26.56

20.27

-0.066 0.036

0.070

0.003

0.002

0.003

6701 JT Equity

NEC CORP

Information Technology

253.00

1.58%

27.03.2014

39.11

33.25

27.65

0.011

0.185

0.004

0.004

0.009

9064 JT Equity

YAMATO HOLDINGS CO LTD

Industrials

1720.00

1.28%

26.09.2013

26.54

28.19

29.91

-0.147 -0.067 -0.073

0.006 -0.004 -0.010

6201 JT Equity

TOYOTA INDUSTRIES CORP

Consumer Discretionary

3495.00

1.57%

26.09.2013

8113 JT Equity

UNICHARM CORP

Consumer Staples

5500.00

0.62%

26.09.2013

20.51

20.25

20.22

0.010

0.004

0.003

0.007

0.000

0.000

9001 JT Equity

TOBU RAILWAY CO LTD

Industrials

556.00

0.90%

26.09.2013

7259 JT Equity

AISIN SEIKI CO LTD

Consumer Discretionary

3405.00

1.62%

26.09.2013

34.62

34.84

35.42

0.005

0.028

0.055

0.000

0.002

0.003

4543 JT Equity

TERUMO CORP

Health Care

4050.00

1.09%

26.09.2013

26.41

26.69

27.74

-0.160 -0.068 0.006

0.001

0.001

0.000

7752 JT Equity

RICOH CO LTD

Information Technology

1028.00

3.26%

26.09.2013

37.05

40.14

41.72

-0.114 -0.118 -0.073

0.004 -0.002 -0.006

8355 JT Equity

SHIZUOKA BANK LTD/THE

Financials

1057.00

1.28%

26.09.2013

4507 JT Equity

SHIONOGI & CO LTD

Health Care

1995.00

2.16%

26.09.2013

4188 JT Equity

MITSUBISHI CHEMICAL HOLDINGS

Materials

465.00

2.37%

26.09.2013

35.65

37.04

38.78

-0.063 0.023

0.053

0.002 -0.004 -0.008

6594 JT Equity

NIDEC CORP

Industrials

5610.00

1.52%

26.09.2013

32.44

29.50

28.55

0.050

0.001 -0.001

-0.005 -0.001 0.000

4689 JT Equity

YAHOO JAPAN CORP

Information Technology

41400.00

0.93%

27.03.2014

29.19

29.86

30.82

0.001

0.002 -0.004

0.000 -0.003 -0.006

4528 JT Equity

ONO PHARMACEUTICAL CO LTD

Health Care

5800.00

3.10%

26.09.2013

7309 JT Equity

SHIMANO INC

Consumer Discretionary

7300.00

0.17%

26.06.2014

7912 JT Equity

DAI NIPPON PRINTING CO LTD

Industrials

926.00

3.46%

26.09.2013

23.92

23.82

24.42

-0.104 -0.066 0.002

0.014

1963 JT Equity

JGC CORP

Industrials

2494.00

1.74%

27.03.2014

26.63

35.15

32.53

-0.013 -0.001 -0.010

0.009 -0.005 -0.001

5938 JT Equity

LIXIL GROUP CORP

Industrials

1919.00

2.08%

26.09.2013

27.47

26.29

25.28

0.043

0.011

0.003 -0.004 -0.007

4324 JT Equity

DENTSU INC

Consumer Discretionary

2900.00

1.10%

26.09.2013

41.52

34.50

27.95

-0.269 -0.063 0.047

-0.010 -0.005 -0.003

8015 JT Equity

TOYOTA TSUSHO CORP

Industrials

2488.00

1.97%

26.09.2013

2651 JT Equity

LAWSON INC

Consumer Staples

7240.00

2.76%

28.08.2013

25.19

24.19

24.48

-0.179 -0.073 -0.070

0.002 -0.002 -0.003

6645 JT Equity

OMRON CORP

Information Technology

2413.00

1.78%

26.09.2013

3099 JT Equity

ISETAN MITSUKOSHI HOLDINGS L

Consumer Discretionary

1362.00

0.73%

27.03.2014

7733 JT Equity

OLYMPUS CORP

Health Care

2260.00

27.03.2014

39.59

32.01

29.10

-0.181 -0.155 -0.171

-0.015 -0.008 0.000

6586 JT Equity
4519 JT Equity

MAKITA CORP
CHUGAI PHARMACEUTICAL CO LTD

Industrials
Health Care

4330.00
2149.00

27.03.2013
26.06.2014

20.60

25.57

31.09

-0.077 -0.117 -0.248

0.013 -0.005 -0.011

0.88%
2.09%

26.09.2013

0.090

0.008

Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |

0.001

0.000

26.03.2013

Option Implied Volatility Skew Parameters by Terms:


IVt = atx + btx2 + ct

At The Money Implied Volatilities by Terms

TOPIX 1000 Index - TPX1000

Ticker
8331 JT Equity
9006 JT Equity
4911 JT Equity
2267 JT Equity
3405 JT Equity
7211 JT Equity
7012 JT Equity
9008 JT Equity
6806 JT Equity
4204 JT Equity
6460 JT Equity
7262 JT Equity
9508 JT Equity
6869 JT Equity
8253 JT Equity
9101 JT Equity
4005 JT Equity
4185 JT Equity
7013 JT Equity
7911 JT Equity
7272 JT Equity
8333 JT Equity
9831 JT Equity
2897 JT Equity
9613 JT Equity
6762 JT Equity
8815 JT Equity
8303 JT Equity
8354 JT Equity
9501 JT Equity
4902 JT Equity
9062 JT Equity
6963 JT Equity
3086 JT Equity
7832 JT Equity
9506 JT Equity
9504 JT Equity
4581 JT Equity
5711 JT Equity
3861 JT Equity
4530 JT Equity
8369 JT Equity
6471 JT Equity
5406 JT Equity
8697 JT Equity
4536 JT Equity
9104 JT Equity
1802 JT Equity
9009 JT Equity
2875 JT Equity
9533 JT Equity
1801 JT Equity
6753 JT Equity
4676 JT Equity
2269 JT Equity
9513 JT Equity
5012 JT Equity
7936 JT Equity
2801 JT Equity
6965 JT Equity
8358 JT Equity
9843 JT Equity
5333 JT Equity
9602 JT Equity
5332 JT Equity
2432 JT Equity
8729 JT Equity
6417 JT Equity
4307 JT Equity
4151 JT Equity
5334 JT Equity
8252 JT Equity
2282 JT Equity
8379 JT Equity
8377 JT Equity
8028 JT Equity
9404 JT Equity
1812 JT Equity
7205 JT Equity
8233 JT Equity
9783 JT Equity
2002 JT Equity
6448 JT Equity
9987 JT Equity
4508 JT Equity
4506 JT Equity
5233 JT Equity
8905 JT Equity
2784 JT Equity
4732 JT Equity
6923 JT Equity
4613 JT Equity
7459 JT Equity
9301 JT Equity
8334 JT Equity
5110 JT Equity
8227 JT Equity
6481 JT Equity
5101 JT Equity
4544 JT Equity
8804 JT Equity
6370 JT Equity
7532 JT Equity
8593 JT Equity
9505 JT Equity
9507 JT Equity
4088 JT Equity
8382 JT Equity
5947 JT Equity
6305 JT Equity
6302 JT Equity
9048 JT Equity
8473 JT Equity
2433 JT Equity
1803 JT Equity
6506 JT Equity
8136 JT Equity
4704 JT Equity
8304 JT Equity
4182 JT Equity
6113 JT Equity
5019 JT Equity
8410 JT Equity
8359 JT Equity
8327 JT Equity
5901 JT Equity

Name
CHIBA BANK LTD/THE
KEIKYU CORP
SHISEIDO CO LTD
YAKULT HONSHA CO LTD
KURARAY CO LTD
MITSUBISHI MOTORS CORP
KAWASAKI HEAVY INDUSTRIES
KEIO CORP
HIROSE ELECTRIC CO LTD
SEKISUI CHEMICAL CO LTD
SEGA SAMMY HOLDINGS INC
DAIHATSU MOTOR CO LTD
KYUSHU ELECTRIC POWER CO INC
SYSMEX CORP
CREDIT SAISON CO LTD
NIPPON YUSEN
SUMITOMO CHEMICAL CO LTD
JSR CORP
IHI CORP
TOPPAN PRINTING CO LTD
YAMAHA MOTOR CO LTD
JOYO BANK LTD/THE
YAMADA DENKI CO LTD
NISSIN FOODS HOLDINGS CO LTD
NTT DATA CORP
TDK CORP
TOKYU LAND CORP
SHINSEI BANK LTD
FUKUOKA FINANCIAL GROUP INC
TOKYO ELECTRIC POWER CO INC
KONICA MINOLTA HOLDINGS INC
NIPPON EXPRESS CO LTD
ROHM CO LTD
J FRONT RETAILING CO LTD
NAMCO BANDAI HOLDINGS INC
TOHOKU ELECTRIC POWER CO INC
CHUGOKU ELECTRIC POWER CO
TAISHO PHARMACEUTICAL HOLDIN
MITSUBISHI MATERIALS CORP
OJI HOLDINGS CORP
HISAMITSU PHARMACEUTICAL CO
BANK OF KYOTO LTD/THE
NSK LTD
KOBE STEEL LTD
JAPAN EXCHANGE GROUP INC
SANTEN PHARMACEUTICAL CO LTD
MITSUI OSK LINES LTD
OBAYASHI CORP
KEISEI ELECTRIC RAILWAY CO
TOYO SUISAN KAISHA LTD
TOHO GAS CO LTD
TAISEI CORP
SHARP CORP
FUJI MEDIA HOLDINGS INC
MEIJI HOLDINGS CO LTD
ELECTRIC POWER DEVELOPMENT C
TONENGENERAL SEKIYU KK
ASICS CORP
KIKKOMAN CORP
HAMAMATSU PHOTONICS KK
SURUGA BANK LTD
NITORI HOLDINGS CO LTD
NGK INSULATORS LTD
TOHO CO LTD
TOTO LTD
DENA CO LTD
SONY FINANCIAL HOLDINGS INC
SANKYO CO LTD
NOMURA RESEARCH INSTITUTE LT
KYOWA HAKKO KIRIN CO LTD
NGK SPARK PLUG CO LTD
MARUI GROUP CO LTD
NIPPON MEAT PACKERS INC
HIROSHIMA BANK LTD/THE
HOKUHOKU FINANCIAL GROUP INC
FAMILYMART CO LTD
NIPPON TELEVISION HOLDINGS
KAJIMA CORP
HINO MOTORS LTD
TAKASHIMAYA CO LTD
BENESSE HOLDINGS INC
NISSHIN SEIFUN GROUP INC
BROTHER INDUSTRIES LTD
SUZUKEN CO LTD
MITSUBISHI TANABE PHARMA
DAINIPPON SUMITOMO PHARMA CO
TAIHEIYO CEMENT CORP
AEON MALL CO LTD
ALFRESA HOLDINGS CORP
USS CO LTD
STANLEY ELECTRIC CO LTD
KANSAI PAINT CO LTD
MEDIPAL HOLDINGS CORP
MITSUBISHI LOGISTICS CORP
GUNMA BANK LTD/THE
SUMITOMO RUBBER INDUSTRIES
SHIMAMURA CO LTD
THK CO LTD
YOKOHAMA RUBBER CO LTD
MIRACA HOLDINGS INC
TOKYO TATEMONO CO LTD
KURITA WATER INDUSTRIES LTD
DON QUIJOTE CO LTD
MITSUBISHI UFJ LEASE & FINAN
HOKURIKU ELECTRIC POWER CO
SHIKOKU ELECTRIC POWER CO
AIR WATER INC
CHUGOKU BANK LTD/THE
RINNAI CORP
HITACHI CONSTRUCTION MACHINE
SUMITOMO HEAVY INDUSTRIES
NAGOYA RAILROAD CO LTD
SBI HOLDINGS INC
HAKUHODO DY HOLDINGS INC
SHIMIZU CORP
YASKAWA ELECTRIC CORP
SANRIO CO LTD
TREND MICRO INC
AOZORA BANK LTD
MITSUBISHI GAS CHEMICAL CO
AMADA CO LTD
IDEMITSU KOSAN CO LTD
SEVEN BANK LTD
HACHIJUNI BANK LTD/THE
NISHI-NIPPON CITY BANK LTD
TOYO SEIKAN KAISHA LTD

GICS_SECTOR_NAME
Financials
Industrials
Consumer Staples
Consumer Staples
Materials
Consumer Discretionary
Industrials
Industrials
Information Technology
Consumer Discretionary
Consumer Discretionary
Consumer Discretionary
Utilities
Health Care
Financials
Industrials
Materials
Materials
Industrials
Industrials
Consumer Discretionary
Financials
Consumer Discretionary
Consumer Staples
Information Technology
Information Technology
Financials
Financials
Financials
Utilities
Information Technology
Industrials
Information Technology
Consumer Discretionary
Consumer Discretionary
Utilities
Utilities
Health Care
Materials
Materials
Health Care
Financials
Industrials
Materials
Financials
Health Care
Industrials
Industrials
Industrials
Consumer Staples
Utilities
Industrials
Consumer Discretionary
Consumer Discretionary
Consumer Staples
Utilities
Energy
Consumer Discretionary
Consumer Staples
Information Technology
Financials
Consumer Discretionary
Industrials
Consumer Discretionary
Industrials
Information Technology
Financials
Consumer Discretionary
Information Technology
Health Care
Consumer Discretionary
Consumer Discretionary
Consumer Staples
Financials
Financials
Consumer Staples
Consumer Discretionary
Industrials
Industrials
Consumer Discretionary
Consumer Discretionary
Consumer Staples
Information Technology
Health Care
Health Care
Health Care
Materials
Financials
Health Care
Consumer Discretionary
Consumer Discretionary
Materials
Health Care
Industrials
Financials
Consumer Discretionary
Consumer Discretionary
Industrials
Consumer Discretionary
Health Care
Financials
Industrials
Consumer Discretionary
Financials
Utilities
Utilities
Materials
Financials
Consumer Discretionary
Industrials
Industrials
Industrials
Financials
Consumer Discretionary
Industrials
Information Technology
Consumer Discretionary
Information Technology
Financials
Materials
Industrials
Energy
Financials
Financials
Financials
Materials

ATM Ref
682.00
985.00
1350.00
3805.00
1374.00
101.00
309.00
821.00
12270.00
985.00
1909.00
1923.00
922.00
5670.00
2312.00
251.00
275.00
1907.00
288.00
696.00
1281.00
517.00
4255.00
4350.00
312000.00
3365.00
871.00
219.00
467.00
220.00
705.00
467.00
3325.00
752.00
1668.00
690.00
1222.00
6690.00
273.00
361.00
5090.00
924.00
731.00
111.00
8470.00
4365.00
320.00
456.00
1019.00
2956.00
595.00
265.00
290.00
157000.00
4455.00
2375.00
932.00
1576.00
1601.00
3695.00
1486.00
7160.00
1017.00
1951.00
848.00
2639.00
1430.00
4455.00
2415.00
1073.00
1483.00
1036.00
1553.00
452.00
190.00
4315.00
1448.00
264.00
1035.00
965.00
4035.00
1264.00
991.00
3370.00
1460.00
1716.00
220.00
2816.00
4945.00
10770.00
1612.00
1054.00
1257.00
1743.00
558.00
1509.00
10750.00
1848.00
1042.00
4405.00
637.00
2071.00
4055.00
4600.00
1174.00
1271.00
1324.00
1488.00
6570.00
2049.00
382.00
312.00
859.00
7440.00
310.00
963.00
4240.00
2689.00
292.00
630.00
641.00
8220.00
306.00
557.00
288.00
1338.00

Dividend
Yield

Next ExDividend
Date

1.61%
0.61%
3.70%
0.62%
2.62%

26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013

1.62%
0.73%
1.18%
1.83%
2.62%
2.70%
2.17%
0.43%
1.30%
1.59%
2.18%
1.78%
1.39%
2.87%
1.33%
1.64%
1.79%
1.61%
2.08%
2.38%
0.86%
0.46%
2.14%

27.03.2014
26.09.2013
26.09.2013
26.09.2013
26.09.2013
27.03.2013
26.09.2013
26.09.2013
27.03.2014
27.03.2013
26.09.2013
26.09.2013
27.03.2014
26.09.2013
26.06.2014
26.09.2013
27.03.2014
26.09.2013
26.09.2013
26.09.2013
26.09.2013
27.03.2014
26.09.2013
27.03.2014
26.09.2013
26.09.2013
26.09.2013
28.08.2013
26.09.2013
27.03.2014
26.09.2013
26.09.2013
27.03.2014
26.09.2013
28.08.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.06.2014
27.03.2014
27.03.2014
27.03.2014
26.09.2013
16.08.2013
26.09.2013
28.08.2013
26.09.2013
27.03.2014
27.03.2014
26.09.2013
26.09.2013
26.06.2014
26.09.2013
26.09.2013
27.03.2014
26.09.2013
27.03.2014
28.08.2013
26.09.2013
26.09.2013
26.09.2013
28.08.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
28.08.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.06.2014
16.08.2013
26.09.2013
26.06.2014
26.09.2013
26.12.2014
26.09.2013
26.12.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
27.03.2014
27.03.2014
26.09.2013
26.09.2013
18.09.2013
26.09.2013
26.12.2013
27.03.2014
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013

2.13%
2.14%
1.35%
1.20%
1.80%
4.09%
1.79%
1.47%
2.77%
1.45%
1.08%
1.50%
1.65%
2.29%
0.94%
1.75%
0.49%
1.35%
1.51%
2.08%
2.99%
1.80%
2.95%
4.08%
0.76%
0.94%
1.24%
0.87%
1.12%
2.06%
0.51%
1.30%
1.89%
1.75%
3.48%
2.15%
2.33%
1.48%
1.64%
1.09%
1.22%
1.97%
2.13%
2.00%
2.27%
1.26%
1.04%
2.42%
1.58%
2.42%
1.51%
2.74%
1.05%
1.82%
0.78%
1.88%
2.60%
1.74%
1.04%
1.43%
0.69%
1.61%
1.99%
1.30%
1.14%
2.11%
1.82%
0.63%
1.93%
0.76%
1.28%
4.26%
2.36%
1.66%
0.89%
0.88%
1.95%
2.09%
0.96%
1.16%
1.08%
2.26%
1.04%
1.06%
2.79%
4.39%
1.90%
1.56%
2.13%
1.99%
1.26%
1.74%
0.75%

Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew
ATM Vol - ATM Vol - ATM Vol - ATM Vol - ATM Vol - ATM Vol - ATM Vol (a) (a) (a) (a) (a) (a) (a) (b) (b) (b) (b) (b) (b) (b) 30D
60D
90D
6M
12M
18M
24M
30D
60D
90D
6M
12M
18M
24M
30D
60D
90D
6M
12M
18M
24M

24.98

25.10

25.66

-0.135 -0.058 0.007

0.011

0.001

0.000

25.52

25.48

25.58

-0.146 -0.071 0.006

0.009

0.002

0.000

36.68

35.29

34.24

-0.066 0.113

0.240

0.002

0.002

0.004

31.53

31.18

31.05

-0.004 0.004

0.006

0.000

0.000

0.000

36.88

34.40

32.07

-0.001 0.231

0.477

-0.001 -0.004 -0.008

40.51
38.37
45.86

39.88
40.08
42.19

40.67
42.12
40.15

-0.155 -0.052 0.001


0.078 0.128 0.131
-0.305 -0.089 0.124

-0.002 -0.001 0.000


0.005 -0.009 -0.018
0.001 0.003 0.008

41.16
25.76

45.93
25.31

46.37
25.22

0.034 -0.056 -0.123


-0.076 0.002 0.007

0.008
0.011

39.78

40.97

42.65

-0.011 0.107

0.000 -0.004 -0.008

28.18
35.88

29.38
35.68

28.19
34.77

-0.113 -0.003 0.068


-0.154 0.001 0.146

0.004
0.002

0.006
0.002

0.007
0.000

43.61
39.01
21.51
38.54

37.84
39.44
24.63
38.11

33.26
38.97
28.24
38.49

-0.039
-0.008
-0.057
0.144

0.014
0.030
-0.072
0.389

0.094
0.055
-0.157
0.658

0.002
0.000
0.019
-0.004

-0.005
-0.003
-0.003
0.000

-0.012
-0.003
-0.006
0.004

30.51
21.32

30.04
25.31

29.88
27.03

-0.062 0.005
0.167 0.402

0.003
0.476

0.005 0.000 0.000


0.014 -0.002 -0.006

32.31
35.59

37.80
37.44

34.31
39.79

0.042 -0.008 -0.027


-0.041 0.159 0.327

0.002 -0.005 0.000


0.003 -0.012 -0.026

36.79
34.63

36.40
37.04

36.28
36.03

-0.021 0.003
-0.024 0.326

0.004
0.513

0.001
0.023

47.85
25.33

45.23
26.87

42.79
28.78

-0.014 0.101
0.120 0.047

0.207
0.098

0.001 -0.012 -0.025


0.007 -0.005 -0.010

27.47
58.30
26.56

26.79
59.00
28.69

25.15
60.36
31.19

-0.070 -0.008 0.012


0.011 0.443 0.921
-0.011 0.213 0.434

0.017 0.001 -0.001


0.000 -0.007 -0.015
0.002 -0.003 -0.006

24.56

24.28

24.14

-0.105 0.004

0.003

0.010

0.000

0.000

29.26

30.49

30.02

-0.102 -0.055 0.004

0.008

0.000

0.000

40.77

40.24

40.10

-0.017 -0.007 -0.004

0.001

0.000

0.000

31.22

36.23

34.47

0.066 -0.005 -0.033

0.006 -0.003 -0.002

33.69

39.53

46.22

-0.034 0.019

0.043

0.002 -0.004 -0.008

20.71
25.49
25.20

20.48
26.69
25.11

20.40
28.30
24.91

-0.132 0.003 0.003


-0.057 -0.029 -0.063
-0.072 -0.041 -0.020

0.007 0.000 0.000


0.007 -0.004 -0.009
0.020 0.011 0.016

25.04

25.33

26.84

-0.115 -0.037 0.004

0.011

0.002

0.000

31.61

31.27

31.17

-0.051 0.001

0.003

0.000

0.000

31.78
36.41

48.63
37.13

55.60
36.43

-0.057 -0.018 -0.037


-0.005 -0.012 -0.017

0.035 0.009 0.000


0.000 -0.001 -0.001

38.07

42.18

41.46

-0.023 -0.060 -0.070

0.003 -0.003 -0.003

31.81

31.29

31.11

-0.043 -0.006 0.009

0.011

0.000

0.000

31.51

27.47

22.36

-0.123 -0.109 0.001

0.001

0.000

0.000

36.46

37.06

38.48

-0.122 -0.055 0.007

0.003

0.002

0.001

Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |

0.228

0.004

0.001
0.000

0.000
0.007

0.001
0.000

0.000
0.003

26.03.2013

TOPIX 1000 Index - TPX1000

Ticker

Name

GICS_SECTOR_NAME

ATM2 Ref

Dividend
Yield

Next ExDividend
Date

At The Money Implied Volatilities by Terms

Option Implied Volatility Skew Parameters by Terms:


2
IVt = atx + btx + ct

ATM2
ATM2
ATM2
ATM2
ATM2
ATM2
ATM2
Vol - 30D Vol - 60D Vol - 90D Vol - 6M Vol - 12M Vol - 18M Vol - 24M

Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew
(a) (a) (a) (a) (a) (a) (a) (b) (b) (b) (b) (b) (b) (b) 30D
60D
90D
6M
12M
18M
24M
30D
60D
90D
6M
12M
18M
24M

2212 JT Equity

YAMAZAKI BAKING CO LTD

Consumer Staples

1204.00

1.33%

26.12.2014

4540 JT Equity

TSUMURA & CO

Health Care

3450.00

1.74%

26.09.2013

9045 JT Equity

KEIHAN ELECTRIC RAILWAY CO

Industrials

437.00

1.14%

26.09.2013

4208 JT Equity

UBE INDUSTRIES LTD

Materials

195.00

2.56%

27.03.2014

3003 JT Equity

HULIC CO LTD

Financials

761.00

0.66%

26.06.2014

3231 JT Equity

NOMURA REAL ESTATE HOLDINGS

Financials

2048.00

1.46%

26.09.2013

9364 JT Equity

KAMIGUMI CO LTD

Industrials

867.00

1.15%

27.03.2014

9962 JT Equity

MISUMI GROUP INC

Industrials

2607.00

1.04%

26.09.2013

6268 JT Equity

NABTESCO CORP

Industrials

1845.00

1.90%

26.09.2013

6857 JT Equity

ADVANTEST CORP

Information Technology

1397.00

1.43%

26.09.2013

43.71

43.79

41.82

-0.121 0.001

0.106

0.005

0.006

0.008

4183 JT Equity

MITSUI CHEMICALS INC

Materials

214.00

2.80%

26.09.2013

30.55

30.40

30.06

-0.031 0.005

0.016

0.014

0.001

0.000

6473 JT Equity

JTEKT CORP

Industrials

888.00

1.69%

26.09.2013

4091 JT Equity

TAIYO NIPPON SANSO CORP

Materials

685.00

1.75%

26.09.2013

6841 JT Equity

YOKOGAWA ELECTRIC CORP

Information Technology

932.00

1.07%

26.09.2013

9107 JT Equity

KAWASAKI KISEN KAISHA LTD

Industrials

212.00

0.47%

27.03.2013

63.65

63.76

63.39

-0.154 -0.064 -0.018

0.004

0.000 -0.002

8418 JT Equity

YAMAGUCHI FINANCIAL GROUP IN

Financials

941.00

1.28%

26.09.2013

2768 JT Equity

SOJITZ CORP

Industrials

149.00

2.68%

26.09.2013

35.57

31.83

28.28

-0.078 0.024

0.066

0.010

0.013

0.023

4666 JT Equity

PARK24 CO LTD

Industrials

1800.00

1.94%

29.10.2014

4205 JT Equity

ZEON CORP

Materials

1023.00

1.17%

26.09.2013

4202 JT Equity

DAICEL CORP

Materials

738.00

1.36%

26.09.2013

8385 JT Equity

IYO BANK LTD/THE

Financials

863.00

0.98%

26.09.2013

8570 JT Equity

AEON CREDIT SERVICE CO LTD

Financials

2528.00

1.58%

26.09.2013

4768 JT Equity

OTSUKA CORP

Information Technology

10220.00

2.01%

26.12.2014

4062 JT Equity

IBIDEN CO LTD

Information Technology

1480.00

2.36%

27.03.2013

40.77

40.78

41.23

0.008 -0.262 -0.553

0.000

0.005

0.011

4004 JT Equity

SHOWA DENKO K K

Materials

138.00

2.17%

26.12.2014

3401 JT Equity

TEIJIN LTD

Materials

223.00

2.24%

26.09.2013

5214 JT Equity

NIPPON ELECTRIC GLASS CO LTD

Information Technology

477.00

2.94%

26.09.2013

37.20

44.60

47.85

0.213

0.063 -0.013

0.016

0.005

0.000

9044 JT Equity

NANKAI ELECTRIC RAILWAY CO

Industrials

420.00

1.19%

27.03.2014

3391 JT Equity

TSURUHA HOLDINGS INC

Consumer Staples

9000.00

1.17%

13.11.2013

6366 JT Equity

CHIYODA CORP

Industrials

1076.00

1.63%

27.03.2014

9766 JT Equity

KONAMI CORP

Information Technology

1950.00

3.03%

26.09.2013

32.62

30.26

27.99

0.001

0.064

0.136

0.000

0.012

0.026

4021 JT Equity

NISSAN CHEMICAL INDUSTRIES

Materials

1166.00

2.23%

26.09.2013

6674 JT Equity

GS YUASA CORP

Industrials

448.00

1.79%

27.03.2014

40.92

40.35

40.18

0.031

0.000

0.000

0.001

0.000

0.000

5714 JT Equity

DOWA HOLDINGS CO LTD

Materials

742.00

1.35%

27.03.2014

4272 JT Equity

NIPPON KAYAKU CO LTD

Materials

1161.00

1.72%

27.11.2013

9509 JT Equity

HOKKAIDO ELECTRIC POWER CO

Utilities

903.00

2.77%

26.09.2013

6504 JT Equity

FUJI ELECTRIC CO LTD

Industrials

280.00

1.43%

27.03.2013

4612 JT Equity

NIPPON PAINT CO LTD

Materials

929.00

1.18%

26.09.2013

5631 JT Equity

JAPAN STEEL WORKS LTD

Industrials

514.00

1.95%

26.09.2013

33.02

31.42

26.65

0.050

0.164

0.269

0.003 -0.002 -0.001

6361 JT Equity

EBARA CORP

Industrials

382.00

1.31%

26.09.2013

5471 JT Equity

DAIDO STEEL CO LTD

Materials

508.00

1.08%

26.09.2013

4716 JT Equity

ORACLE CORP JAPAN

Information Technology

4165.00

2.09%

28.05.2014

21.50

21.11

21.27

-0.101 0.004

0.005

0.005

0.000

0.000

6754 JT Equity

ANRITSU CORP

Information Technology

1507.00

1.16%

26.09.2013

7276 JT Equity

KOITO MANUFACTURING CO LTD

Consumer Discretionary

1615.00

1.24%

27.03.2013

5463 JT Equity

MARUICHI STEEL TUBE LTD

Materials

2283.00

2.69%

26.09.2013

8616 JT Equity

TOKAI TOKYO FINANCIAL HOLDIN

Financials

705.00

2.55%

26.09.2013

8341 JT Equity

77 BANK LTD/THE

Financials

516.00

1.36%

26.09.2013

4042 JT Equity

TOSOH CORP

Materials

281.00

2.14%

26.09.2013

1911 JT Equity

SUMITOMO FORESTRY CO LTD

Consumer Discretionary

1018.00

1.47%

26.09.2013

2229 JT Equity

CALBEE INC

Consumer Staples

7680.00

0.65%

27.03.2014

8609 JT Equity

OKASAN SECURITIES GROUP INC

Financials

928.00

1.62%

27.03.2014

7701 JT Equity

SHIMADZU CORP

Information Technology

642.00

1.40%

26.09.2013

4555 JT Equity

SAWAI PHARMACEUTICAL CO LTD

Health Care

11120.00

1.26%

26.09.2013

6592 JT Equity

MABUCHI MOTOR CO LTD

Industrials

5140.00

1.17%

26.06.2014

25.53

25.19

25.08

-0.083 0.004

0.005

0.004

0.000

0.000

9989 JT Equity

SUNDRUG CO LTD

Consumer Staples

4035.00

1.09%

26.09.2013

4631 JT Equity

DIC CORP

Materials

204.00

2.94%

26.09.2013

30.69

30.20

29.80

-0.025 -0.015 0.024

0.014

0.000 -0.001

3101 JT Equity

TOYOBO CO LTD

Consumer Discretionary

171.00

2.05%

27.03.2014

2809 JT Equity

KEWPIE CORP

Consumer Staples

1325.00

1.66%

28.05.2014

7453 JT Equity

RYOHIN KEIKAKU CO LTD

Consumer Discretionary

7210.00

1.66%

28.08.2013

3893 JT Equity

NIPPON PAPER GROUP INC

Materials

1466.00

2.05%

26.09.2013

2.70

2.70

2.70

0.033

0.023

0.023

3659 JT Equity

NEXON CO LTD

Information Technology

911.00

1.10%

4967 JT Equity

KOBAYASHI PHARMACEUTICAL CO

Consumer Staples

4660.00

1.72%

26.09.2013

4684 JT Equity

OBIC CO LTD

Information Technology

21670.00

1.85%

26.09.2013

5991 JT Equity

NHK SPRING CO LTD

Consumer Discretionary

968.00

1.55%

27.03.2013

9401 JT Equity

TOKYO BROADCASTING SYSTEM

Consumer Discretionary

1365.00

0.99%

26.09.2013

4118 JT Equity

KANEKA CORP

Materials

557.00

2.87%

26.09.2013

6952 JT Equity

CASIO COMPUTER CO LTD

Consumer Discretionary

761.00

2.23%

27.03.2013

34.85

35.04

33.19

-0.096 -0.075 -0.062

0.001 -0.002 0.001

2811 JT Equity

KAGOME CO LTD

Consumer Staples

1800.00

1.11%

27.03.2014

2501 JT Equity

SAPPORO HOLDINGS LTD

Consumer Staples

394.00

1.78%

26.12.2014

4061 JT Equity

DENKI KAGAKU KOGYO K K

Materials

344.00

2.91%

26.09.2013

8282 JT Equity

K'S HOLDINGS CORP

Consumer Discretionary

2909.00

2.06%

26.09.2013

2531 JT Equity

TAKARA HOLDINGS INC

Consumer Staples

810.00

1.11%

27.03.2014

31.47

24.75

21.20

-0.127 -0.116 -0.132

0.003 -0.001 -0.001

7003 JT Equity

MITSUI ENGINEER & SHIPBUILD

Industrials

182.00

1.65%

27.03.2014

2871 JT Equity

NICHIREI CORP

Consumer Staples

556.00

1.80%

26.09.2013

4521 JT Equity

KAKEN PHARMACEUTICAL CO LTD

Health Care

1695.00

2.48%

26.09.2013

5801 JT Equity

FURUKAWA ELECTRIC CO LTD

Industrials

211.00

3.08%

26.09.2013

40.17

37.89

36.11

-0.006 0.037

0.085

0.004 -0.001 -0.004

8933 JT Equity

NTT URBAN DEVELOPMENT CORP

Financials

112900.00

1.24%

26.09.2013

2371 JT Equity

KAKAKU.COM INC

Information Technology

4860.00

0.72%

27.03.2014

6457 JT Equity

GLORY LTD

Industrials

2285.00

1.79%

26.09.2013

8129 JT Equity

TOHO HOLDINGS CO LTD

Health Care

2126.00

0.75%

26.09.2013

3436 JT Equity

SUMCO CORP

Information Technology

1049.00

47.40

50.35

50.56

0.106

0.092

0.144

0.005

0.000 -0.003

8219 JT Equity

AOYAMA TRADING CO LTD

Consumer Discretionary

2448.00

2.45%

26.09.2013

7951 JT Equity

YAMAHA CORP

Consumer Discretionary

906.00

0.99%

26.09.2013

8270 JT Equity

UNY GROUP HOLDINGS CO LTD

Consumer Staples

704.00

3.13%

16.08.2013

2593 JT Equity

ITO EN LTD

Consumer Staples

2180.00

1.74%

29.10.2013

5486 JT Equity

HITACHI METALS LTD

Materials

893.00

1.57%

26.09.2013

8012 JT Equity

NAGASE & CO LTD

Industrials

1187.00

2.11%

26.09.2013

4217 JT Equity

HITACHI CHEMICAL CO LTD

Materials

1459.00

2.54%

26.09.2013

6727 JT Equity

WACOM CO LTD

Information Technology

359000.00

1.11%

27.03.2014

3591 JT Equity

WACOAL HOLDINGS CORP

Consumer Discretionary

1045.00

2.68%

27.03.2014

9076 JT Equity

SEINO HOLDINGS CO LTD

Industrials

840.00

1.31%

27.03.2014

2810 JT Equity

HOUSE FOODS CORPORATION

Consumer Staples

1648.00

1.82%

26.09.2013

7240 JT Equity

NOK CORP

Consumer Discretionary

1342.00

1.49%

26.09.2013

4569 JT Equity

KYORIN HOLDINGS INC

Health Care

2325.00

2.15%

26.09.2013

4114 JT Equity

NIPPON SHOKUBAI CO LTD

Materials

843.00

1.96%

26.09.2013

6146 JT Equity

DISCO CORP

Information Technology

5490.00

0.93%

26.09.2013

6849 JT Equity

NIHON KOHDEN CORP

Health Care

3180.00

1.45%

26.09.2013

3632 JT Equity

GREE INC

Information Technology

1239.00

2.58%

26.06.2013

30.59

30.22

30.02

-0.055 0.002

0.007

0.005

0.000

0.000

4912 JT Equity

LION CORP

Consumer Staples

521.00

1.92%

26.06.2014

9601 JT Equity

SHOCHIKU CO LTD

Consumer Discretionary

962.00

0.31%

26.02.2014

1721 JT Equity

COMSYS HOLDINGS CORP

Industrials

1145.00

1.75%

26.09.2013

6724 JT Equity

SEIKO EPSON CORP

Information Technology

912.00

2.19%

26.09.2013

5002 JT Equity

SHOWA SHELL SEKIYU KK

Energy

659.00

2.73%

26.06.2014

7282 JT Equity

TOYODA GOSEI CO LTD

Consumer Discretionary

2183.00

1.74%

26.09.2013

6141 JT Equity

MORI SEIKI CO LTD

Industrials

1112.00

1.80%

26.09.2013

1808 JT Equity

HASEKO CORP

Consumer Discretionary

41.66

48.75

45.55

-0.060 0.030

0.269

0.017

0.001

0.000

7004 JT Equity

HITACHI ZOSEN CORP

Industrials

154.00

1.30%

27.03.2014

3349 JT Equity

COSMOS PHARMACEUTICAL CORP

Consumer Staples

12200.00

0.35%

27.11.2013

8628 JT Equity

MATSUI SECURITIES CO LTD

Financials

1035.00

1.93%

27.03.2014

6465 JT Equity

HOSHIZAKI ELECTRIC CO LTD

Industrials

2750.00

1.09%

26.12.2014

2579 JT Equity

COCA-COLA WEST CO LTD

Consumer Staples

1578.00

2.60%

26.06.2014

8415 JT Equity

KIYO HOLDINGS INC

Financials

152.00

1.97%

27.03.2014

8242 JT Equity

H2O RETAILING CORP

Consumer Discretionary

930.00

1.34%

26.09.2013

8336 JT Equity

MUSASHINO BANK LTD/THE

Financials

3775.00

1.85%

26.09.2013

8366 JT Equity

SHIGA BANK LTD/THE

Financials

636.00

0.94%

26.09.2013

1662 JT Equity

JAPAN PETROLEUM EXPLORATION

Energy

3690.00

1.08%

26.09.2013

8036 JT Equity

HITACHI HIGH-TECHNOLOGIES CO

Information Technology

1953.00

1.28%

26.09.2013

6925 JT Equity

USHIO INC

Industrials

962.00

2.29%

27.03.2014

4527 JT Equity

ROHTO PHARMACEUTICAL CO LTD

Health Care

1325.00

1.28%

26.09.2013

5007 JT Equity

COSMO OIL COMPANY LTD

Energy

201.00

6976 JT Equity

TAIYO YUDEN CO LTD

Information Technology

1191.00

0.84%

26.09.2013

49.23

49.58

50.83

-0.130 -0.018 0.043

0.000

0.001

0.001

6856 JT Equity

HORIBA LTD

Information Technology

2919.00

1.54%

26.06.2014

9003 JT Equity
5706 JT Equity

SOTETSU HOLDINGS INC


MITSUI MINING & SMELTING CO

Industrials
Materials

359.00
215.00

1.39%
1.40%

26.09.2013
27.03.2014

40.40

39.28

39.11

-0.004 0.010

0.002

0.000

0.000

87.00

0.033

0.033

0.023

27.03.2013

Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |

0.011

26.03.2013

TOPIX 1000 Index - TPX1000

Ticker
8585 JT Equity
6845 JT Equity
8016 JT Equity
8439 JT Equity
5444 JT Equity
7313 JT Equity
6136 JT Equity
8273 JT Equity
6472 JT Equity
4739 JT Equity
7762 JT Equity
4665 JT Equity
9832 JT Equity
5232 JT Equity
2331 JT Equity
9065 JT Equity
7649 JT Equity
6395 JT Equity
4045 JT Equity
5803 JT Equity
4206 JT Equity
5202 JT Equity
9031 JT Equity
8572 JT Equity
4534 JT Equity
8840 JT Equity
8356 JT Equity
7988 JT Equity
7956 JT Equity
8088 JT Equity
8324 JT Equity
8184 JT Equity
7550 JT Equity
6103 JT Equity
9072 JT Equity
8394 JT Equity
8515 JT Equity
8086 JT Equity
8388 JT Equity
3116 JT Equity
8381 JT Equity
8524 JT Equity
4681 JT Equity
7860 JT Equity
9435 JT Equity
6770 JT Equity
5929 JT Equity
9747 JT Equity
9409 JT Equity
8361 JT Equity
3360 JT Equity
3105 JT Equity
8060 JT Equity
3088 JT Equity
8390 JT Equity
2413 JT Equity
1944 JT Equity
8363 JT Equity
6479 JT Equity
8714 JT Equity
2131 JT Equity
8544 JT Equity
9719 JT Equity
8425 JT Equity
7735 JT Equity
8367 JT Equity
9303 JT Equity
4634 JT Equity
8595 JT Equity
8130 JT Equity
8218 JT Equity
9706 JT Equity
8698 JT Equity
2685 JT Equity
4922 JT Equity
1883 JT Equity
8368 JT Equity
8386 JT Equity
3941 JT Equity
6995 JT Equity
4321 JT Equity
1951 JT Equity
9684 JT Equity
6412 JT Equity
9744 JT Equity
2670 JT Equity
1334 JT Equity
4186 JT Equity
2206 JT Equity
9681 JT Equity
7222 JT Equity
3626 JT Equity
7966 JT Equity
6376 JT Equity
4095 JT Equity
4043 JT Equity
2607 JT Equity
8586 JT Equity
3050 JT Equity
4547 JT Equity
7296 JT Equity
9412 JT Equity
4403 JT Equity
1833 JT Equity
9956 JT Equity
5943 JT Equity
8522 JT Equity
4917 JT Equity
6005 JT Equity
4927 JT Equity
4401 JT Equity
7984 JT Equity
6703 JT Equity
5949 JT Equity
6474 JT Equity
3774 JT Equity
5105 JT Equity
7242 JT Equity
6588 JT Equity
8848 JT Equity
7729 JT Equity
3098 JT Equity
1979 JT Equity
6383 JT Equity
9934 JT Equity
9603 JT Equity

Name
ORIENT CORP
AZBIL CORP
ONWARD HOLDINGS CO LTD
CENTURY TOKYO LEASING CORP
YAMATO KOGYO CO LTD
TS TECH CO LTD
OSG CORP
IZUMI CO LTD
NTN CORP
ITOCHU TECHNO-SOLUTIONS CORP
CITIZEN HOLDINGS CO LTD
DUSKIN CO LTD
AUTOBACS SEVEN CO LTD
SUMITOMO OSAKA CEMENT CO LTD
SOHGO SECURITY SERVICES CO
SANKYU INC
SUGI HOLDINGS CO LTD
TADANO LTD
TOAGOSEI CO LTD
FUJIKURA LTD
AICA KOGYO CO LTD
NIPPON SHEET GLASS CO LTD
NISHI-NIPPON RAILROAD CO LTD
ACOM CO LTD
MOCHIDA PHARMACEUTICAL CO
DAIKYO INC
JUROKU BANK LTD/THE
NIFCO INC
PIGEON CORP
IWATANI CORP
DAISHI BANK LTD/THE
SHIMACHU CO LTD
ZENSHO HOLDINGS CO LTD
OKUMA CORP
NIPPON KONPO UNYU SOKO CO
HIGO BANK LTD/THE
AIFUL CORP
NIPRO CORP
AWA BANK LTD/THE
TOYOTA BOSHOKU CORP
SAN-IN GODO BANK LTD/THE
NORTH PACIFIC BANK LTD
RESORTTRUST INC
AVEX GROUP HOLDINGS INC
HIKARI TSUSHIN INC
ALPS ELECTRIC CO LTD
SANWA HOLDINGS CORP
ASATSU-DK INC
TV ASAHI CORP
OGAKI KYORITSU BANK LTD/THE
SHIP HEALTHCARE HOLDINGS INC
NISSHINBO HOLDINGS INC
CANON MARKETING JAPAN INC
MATSUMOTOKIYOSHI HOLDINGS CO
KAGOSHIMA BANK LTD/THE
M3 INC
KINDEN CORP
HOKKOKU BANK LTD/THE
MINEBEA CO LTD
SENSHU IKEDA HOLDINGS INC
ACCORDIA GOLF CO LTD
KEIYO BANK LTD/THE
SCSK CORP
IBJ LEASING CO LTD
DAINIPPON SCREEN MFG CO LTD
NANTO BANK LTD/THE
SUMITOMO WAREHOUSE CO LTD
TOYO INK SC HOLDINGS CO LTD
JAFCO CO LTD
SANGETSU CO LTD
KOMERI CO LTD
JAPAN AIRPORT TERMINAL CO
MONEX GROUP INC
POINT INC
KOSE CORP
MAEDA ROAD CONSTRUCTION CO
HYAKUGO BANK LTD/THE
HYAKUJUSHI BANK LTD/THE
RENGO CO LTD
TOKAI RIKA CO LTD
KENEDIX INC
KYOWA EXEO CORP
SQUARE ENIX HOLDINGS CO LTD
HEIWA CORP
MEITEC CORP
ABC-MART INC
MARUHA NICHIRO HOLDINGS INC
TOKYO OHKA KOGYO CO LTD
EZAKI GLICO CO LTD
TOKYO DOME CORP
NISSAN SHATAI CO LTD
IT HOLDINGS CORP
LINTEC CORP
NIKKISO CO LTD
NIHON PARKERIZING CO LTD
TOKUYAMA CORPORATION
FUJI OIL CO LTD
HITACHI CAPITAL CORP
DCM HOLDINGS CO LTD
KISSEI PHARMACEUTICAL CO LTD
FCC CO LTD
SKY PERFECT JSAT HOLDINGS
NOF CORP
OKUMURA CORP
VALOR CO LTD
NORITZ CORP
BANK OF NAGOYA LTD/THE
MANDOM CORP
MIURA CO LTD
POLA ORBIS HOLDINGS INC
ADEKA CORP
KOKUYO CO LTD
OKI ELECTRIC INDUSTRY CO LTD
UNIPRES CORP
NACHI-FUJIKOSHI CORP
INTERNET INITIATIVE JAPAN
TOYO TIRE & RUBBER CO LTD
KYB CO LTD
TOSHIBA TEC CORP
LEOPALACE21 CORP
TOKYO SEIMITSU CO LTD
COCOKARA FINE INC
TAIKISHA LTD
DAIFUKU CO LTD
INABA DENKI SANGYO CO LTD
H I S CO LTD

GICS_SECTOR_NAME
Financials
Information Technology
Consumer Discretionary
Financials
Materials
Consumer Discretionary
Industrials
Consumer Discretionary
Industrials
Information Technology
Information Technology
Industrials
Consumer Discretionary
Materials
Industrials
Industrials
Consumer Staples
Industrials
Materials
Industrials
Industrials
Industrials
Industrials
Financials
Health Care
Financials
Financials
Consumer Discretionary
Consumer Staples
Industrials
Financials
Consumer Discretionary
Consumer Discretionary
Industrials
Industrials
Financials
Financials
Health Care
Financials
Consumer Discretionary
Financials
Financials
Consumer Discretionary
Consumer Discretionary
Consumer Discretionary
Information Technology
Industrials
Consumer Discretionary
Consumer Discretionary
Financials
Health Care
Industrials
Consumer Discretionary
Consumer Staples
Financials
Health Care
Industrials
Financials
Industrials
Financials
Consumer Discretionary
Financials
Information Technology
Financials
Information Technology
Financials
Industrials
Materials
Financials
Consumer Discretionary
Consumer Discretionary
Industrials
Financials
Consumer Discretionary
Consumer Staples
Industrials
Financials
Financials
Materials
Consumer Discretionary
Financials
Industrials
Information Technology
Consumer Discretionary
Industrials
Consumer Discretionary
Consumer Staples
Materials
Consumer Staples
Consumer Discretionary
Consumer Discretionary
Information Technology
Materials
Health Care
Materials
Materials
Consumer Staples
Financials
Consumer Discretionary
Health Care
Consumer Discretionary
Consumer Discretionary
Materials
Industrials
Consumer Staples
Industrials
Financials
Consumer Staples
Industrials
Consumer Staples
Materials
Industrials
Information Technology
Consumer Discretionary
Industrials
Information Technology
Consumer Discretionary
Consumer Discretionary
Information Technology
Financials
Information Technology
Consumer Staples
Industrials
Industrials
Industrials
Consumer Discretionary

ATM2 Ref
298.00
2028.00
812.00
2445.00
2600.00
2653.00
1293.00
2245.00
255.00
4700.00
483.00
1887.00
4460.00
284.00
1385.00
429.00
3285.00
1064.00
414.00
302.00
1727.00
106.00
388.00
2517.00
1264.00
327.00
402.00
2124.00
6560.00
452.00
386.00
2185.00
1296.00
715.00
1505.00
597.00
589.00
899.00
588.00
1364.00
820.00
316.00
2654.00
2515.00
4695.00
635.00
481.00
2681.00
1846.00
350.00
3250.00
687.00
1393.00
2728.00
654.00
181800.00
602.00
391.00
327.00
543.00
96100.00
541.00
1870.00
2947.00
426.00
443.00
647.00
459.00
3195.00
2463.00
2829.00
1256.00
38350.00
4675.00
2246.00
1302.00
470.00
384.00
493.00
1760.00
40850.00
1011.00
1127.00
1860.00
2494.00
3445.00
187.00
1983.00
986.00
514.00
1163.00
1200.00
1833.00
1120.00
1582.00
257.00
1432.00
2003.00
756.00
1972.00
2345.00
44700.00
470.00
382.00
1779.00
1840.00
422.00
3345.00
2401.00
2999.00
828.00
715.00
102.00
2098.00
389.00
3115.00
408.00
464.00
564.00
409.00
1958.00
3405.00
2188.00
758.00
2975.00
4060.00

Dividend
Yield

3.16%
3.20%
1.76%
1.15%
0.98%
1.78%
1.60%
2.13%
1.55%
2.12%
3.25%
1.76%
1.52%
2.10%
0.76%
0.94%
2.42%
1.66%
1.97%
1.55%
2.22%
0.92%
1.74%
2.26%
1.86%
1.55%
1.81%
2.52%
1.23%
1.40%
1.53%
1.42%
2.36%
1.19%
1.25%
1.34%
0.47%
1.88%
2.19%
1.96%
1.57%
2.08%
0.93%
1.63%
2.00%
0.92%
2.18%
1.72%
1.47%
1.30%
0.55%
1.99%
1.53%
2.75%
2.76%
5.72%
1.85%
1.82%
1.70%

Next ExDividend
Date
26.09.2013
26.02.2014
26.09.2013
26.09.2013
26.09.2013
28.05.2014
28.08.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
27.03.2014
26.09.2013
27.03.2014
28.08.2013
26.09.2013
26.06.2014
26.09.2013
26.09.2013
26.09.2013
26.09.2013
27.03.2014
26.09.2013
27.03.2014
26.09.2013
26.09.2013
29.07.2014
27.03.2014
26.09.2013
26.02.2014
26.09.2013
26.09.2013
26.09.2013
26.09.2013

1.35%
1.62%
2.51%
0.78%
3.05%
1.24%
0.56%
1.10%
2.78%
1.78%
1.38%
1.60%
1.82%
2.43%
1.70%

26.09.2013
26.09.2013
26.09.2013
26.09.2013
27.03.2014
26.09.2013
26.09.2013
26.06.2013
26.09.2013
26.09.2013
26.06.2014
26.09.2013
26.09.2013
27.03.2014
26.09.2013
26.06.2014
26.09.2013
26.09.2013
27.03.2014
26.09.2013
26.09.2013
26.09.2013
27.03.2014
27.03.2014
26.09.2013
26.09.2013
26.09.2013
27.03.2014
26.09.2013
26.09.2013
26.09.2013
27.03.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
28.08.2013
26.09.2013
27.03.2014
26.09.2013
26.09.2013
26.09.2013
26.09.2013

2.18%
2.66%
2.96%
4.25%
1.51%
1.60%
2.02%
1.52%
0.97%
0.77%
2.00%
2.13%
1.25%
1.42%
2.33%
1.82%
1.80%
2.38%
1.93%
1.54%
2.68%
2.13%
2.36%
1.52%
1.63%
1.54%
1.79%
1.75%
1.83%
2.66%
2.10%

26.09.2013
26.09.2013
26.09.2013
26.09.2013
28.08.2013
27.03.2014
26.09.2013
26.09.2013
28.01.2015
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
28.08.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
27.03.2014
26.09.2013
26.06.2014
26.09.2013
26.09.2013
26.09.2013
26.06.2014
26.09.2013
26.06.2014

1.19%
1.54%
0.62%
2.21%
1.72%
1.24%

26.09.2013
26.11.2014
26.09.2013
26.12.2014
26.09.2013
26.09.2013
27.03.2014
26.09.2013
26.09.2013
26.09.2013
26.09.2013
27.03.2014
29.10.2014

0.92%
1.91%
1.60%
1.98%
3.06%
0.84%

At The Money Implied Volatilities by Terms

Option Implied Volatility Skew Parameters by Terms:


IVt = atx + btx2 + ct

ATM2
ATM2
ATM2
ATM2
ATM2
ATM2
ATM2
Vol - 30D Vol - 60D Vol - 90D Vol - 6M Vol - 12M Vol - 18M Vol - 24M

Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew
(a) (a) (a) (a) (a) (a) (a) (b) (b) (b) (b) (b) (b) (b) 30D
60D
90D
6M
12M
18M
24M
30D
60D
90D
6M
12M
18M
24M

25.70

25.43

25.37

-0.059 0.004

0.005

0.004

0.000

0.000

41.66

41.28

41.20

-0.015 0.008

0.004

0.002

0.000

0.000

28.42

31.93

35.41

-0.210 -0.069 0.064

0.025

0.010

0.008

41.35

42.35

43.04

-0.126 0.291

0.720

0.004

0.005

0.007

33.34

27.42

23.80

0.091

0.129

0.166

0.000 -0.005 -0.002

35.89

35.61

35.51

-0.007 0.000

0.000

0.005

0.000

0.001

38.74

52.28

56.83

0.273

0.171

0.033

0.011

0.006

0.226

Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |

26.03.2013

TOPIX 1000 Index - TPX1000

Ticker

Name

GICS_SECTOR_NAME

ATM3 Ref

Dividend
Yield

Next ExDividend
Date

8078 JT Equity

HANWA CO LTD

Industrials

348.00

3.45%

26.09.2013

6310 JT Equity

ISEKI & CO LTD

Industrials

343.00

0.87%

27.03.2014

7312 JT Equity

TAKATA CORP

Consumer Discretionary

1881.00

1.86%

27.03.2013

8424 JT Equity

FUYO GENERAL LEASE CO LTD

Financials

3615.00

1.88%

26.09.2013

7606 JT Equity

UNITED ARROWS LTD

Consumer Discretionary

3190.00

1.29%

26.09.2013

1414 JT Equity

SHO-BOND HOLDINGS CO LTD

Industrials

3390.00

1.56%

26.12.2013

9075 JT Equity

FUKUYAMA TRANSPORTING CO LTD

Industrials

554.00

1.81%

26.09.2013

2270 JT Equity

MEGMILK SNOW BRAND CO LTD

Consumer Staples

1511.00

1.65%

27.03.2014

3593 JT Equity

HOGY MEDICAL CO LTD

Health Care

5030.00

1.95%

26.06.2013

7981 JT Equity

TAKARA STANDARD CO LTD

Industrials

721.00

1.39%

26.09.2013

7616 JT Equity

COLOWIDE CO LTD

Consumer Discretionary

1011.00

0.49%

27.03.2014

5541 JT Equity

PACIFIC METALS CO LTD

Materials

491.00

0.61%

26.09.2013

4541 JT Equity

NICHI-IKO PHARMACEUTICAL CO

Health Care

2157.00

1.48%

26.09.2013

9948 JT Equity

ARCS CO LTD

Consumer Staples

1942.00

2.06%

28.08.2013

8803 JT Equity

HEIWA REAL ESTATE CO LTD

Financials

1745.00

1.15%

26.09.2013

5413 JT Equity

NISSHIN STEEL HOLDINGS CO LT

Materials

722.00

0.69%

7230 JT Equity

NISSIN KOGYO CO LTD

Consumer Discretionary

1571.00

2.29%

26.09.2013

1893 JT Equity

PENTA-OCEAN CONSTRUCTION CO

Industrials

238.00

0.84%

27.03.2014

8584 JT Equity

JACCS CO LTD

Financials

582.00

1.89%

26.09.2013

7518 JT Equity

NET ONE SYSTEMS CO LTD

Information Technology

881.00

3.86%

26.09.2013

9749 JT Equity

FUJI SOFT INC

Information Technology

2256.00

1.06%

26.09.2013

5857 JT Equity

ASAHI HOLDINGS INC

Materials

2006.00

2.99%

26.09.2013

4203 JT Equity

SUMITOMO BAKELITE CO LTD

Materials

387.00

2.58%

26.09.2013

7947 JT Equity

FP CORP

Materials

6120.00

1.96%

26.09.2013

7451 JT Equity

MITSUBISHI SHOKUHIN CO LTD

Consumer Staples

2907.00

1.44%

26.09.2013

3865 JT Equity

HOKUETSU KISHU PAPER CO LTD

Materials

481.00

2.08%

26.09.2013

8237 JT Equity

MATSUYA CO LTD

Consumer Discretionary

1547.00

8600 JT Equity

TOMONY HOLDINGS INC

Financials

404.00

1.98%

26.09.2013

2284 JT Equity

ITOHAM FOODS INC

Consumer Staples

495.00

1.01%

27.03.2014

9672 JT Equity

TOKYOTOKEIBA CO LTD

Consumer Discretionary

378.00

0.79%

26.06.2014

7278 JT Equity

EXEDY CORP

Consumer Discretionary

2234.00

2.24%

26.09.2013

9375 JT Equity

KINTETSU WORLD EXPRESS INC

Industrials

3385.00

0.95%

26.09.2013

5301 JT Equity

TOKAI CARBON CO LTD

Materials

333.00

1.80%

26.06.2014

1881 JT Equity

NIPPO CORP

Industrials

1163.00

1.29%

27.03.2014

9697 JT Equity

CAPCOM CO LTD

Information Technology

1590.00

2.83%

26.09.2013

2001 JT Equity

NIPPON FLOUR MILLS CO LTD

Consumer Staples

437.00

2.29%

26.09.2013

4044 JT Equity

CENTRAL GLASS CO LTD

Industrials

320.00

2.50%

26.09.2013

4516 JT Equity

NIPPON SHINYAKU CO LTD

Health Care

1365.00

1.54%

26.09.2013

6222 JT Equity

SHIMA SEIKI MFG LTD

Industrials

2182.00

0.92%

27.03.2013

7817 JT Equity

PARAMOUNT BED HOLDINGS CO LT

Health Care

3455.00

1.30%

26.09.2013

3608 JT Equity

TSI HOLDINGS CO LTD

Consumer Discretionary

549.00

3.19%

26.02.2014

8140 JT Equity

RYOSAN CO LTD

Information Technology

1835.00

3.81%

26.09.2013

9449 JT Equity

GMO INTERNET INC

Information Technology

895.00

1.56%

27.03.2014

6508 JT Equity

MEIDENSHA CORP

Industrials

297.00

1.68%

27.03.2014

9861 JT Equity

YOSHINOYA HOLDINGS CO LTD

Consumer Discretionary

109900.00

1.82%

28.08.2013

3064 JT Equity

MONOTARO CO LTD

Industrials

4430.00

0.54%

26.06.2014

1860 JT Equity

TODA CORP

Industrials

225.00

2.22%

27.03.2014

8895 JT Equity

ARNEST ONE CORP

Consumer Discretionary

1794.00

2.23%

26.09.2013

9627 JT Equity

AIN PHARMACIEZ INC

Consumer Staples

4925.00

1.22%

25.04.2014

1417 JT Equity

MIRAIT HOLDINGS CORP

Industrials

915.00

2.19%

26.09.2013

8397 JT Equity

BANK OF OKINAWA LTD/THE

Financials

3950.00

1.65%

26.09.2013

7864 JT Equity

FUJI SEAL INTERNATIONAL INC

Materials

2386.00

1.59%

26.09.2013

8399 JT Equity

BANK OF THE RYUKYUS LTD

Financials

1397.00

2.15%

26.09.2013

9119 JT Equity

IINO KAIUN KAISHA LTD

Industrials

689.00

0.87%

26.09.2013

7224 JT Equity

SHINMAYWA INDUSTRIES LTD

Industrials

703.00

1.42%

26.09.2013

6135 JT Equity

MAKINO MILLING MACHINE CO

Industrials

584.00

1.37%

26.09.2013

3110 JT Equity

NITTO BOSEKI CO LTD

Industrials

366.00

1.09%

27.03.2013

8806 JT Equity

DAIBIRU CORP

Financials

1107.00

0.99%

26.09.2013

1924 JT Equity

PANAHOME CORP

Consumer Discretionary

671.00

2.24%

26.09.2013

4041 JT Equity

NIPPON SODA CO LTD

Materials

449.00

1.34%

27.03.2014

8276 JT Equity

HEIWADO CO LTD

Consumer Staples

1398.00

1.72%

16.08.2013

2264 JT Equity

MORINAGA MILK INDUSTRY CO

Consumer Staples

294.00

2.38%

27.03.2014

4921 JT Equity

FANCL CORP

Consumer Staples

1056.00

3.22%

26.09.2013

9869 JT Equity

KATO SANGYO CO LTD

Consumer Staples

1948.00

2.26%

27.03.2014

8511 JT Equity

JAPAN SECURITIES FINANCE CO

Financials

732.00

2.32%

26.09.2013

7248 JT Equity

CALSONIC KANSEI CORP

Consumer Discretionary

406.00

1.85%

26.09.2013

8345 JT Equity

BANK OF IWATE LTD/THE

Financials

3855.00

1.56%

26.09.2013

6436 JT Equity

AMANO CORP

Information Technology

896.00

3.13%

26.09.2013

7251 JT Equity

KEIHIN CORP

Consumer Discretionary

1308.00

2.22%

26.09.2013

6406 JT Equity

FUJITEC CO LTD

Industrials

928.00

1.19%

26.09.2013

3880 JT Equity

DAIO PAPER CORP

Materials

613.00

1.47%

26.09.2013

8020 JT Equity

KANEMATSU CORP

Industrials

128.00

4553 JT Equity

TOWA PHARMACEUTICAL CO LTD

Health Care

5030.00

1.44%

26.09.2013

6967 JT Equity

SHINKO ELECTRIC INDUSTRIES

Information Technology

793.00

2.52%

26.09.2013

8281 JT Equity

XEBIO CO LTD

Consumer Discretionary

1986.00

1.51%

26.09.2013

8050 JT Equity

SEIKO HOLDINGS CORP

Consumer Discretionary

416.00

0.60%

27.03.2014

8344 JT Equity

YAMAGATA BANK LTD/THE

Financials

441.00

1.36%

26.09.2013

9605 JT Equity

TOEI CO LTD

Consumer Discretionary

638.00

0.94%

26.09.2013

7915 JT Equity

NISSHA PRINTING CO LTD

Industrials

1709.00

5393 JT Equity

NICHIAS CORP

Industrials

563.00

2.58%

5932 JT Equity

SANKYO TATEYAMA INC

Industrials

1912.00

1.05%

5451 JT Equity

YODOGAWA STEEL WORKS LTD

Materials

350.00

2.43%

26.09.2013

8153 JT Equity

MOS FOOD SERVICES INC

Consumer Discretionary

2011.00

0.99%

26.09.2013

5738 JT Equity

SUMITOMO LIGHT METAL IND LTD

Materials

102.00

1.96%

1766 JT Equity

TOKEN CORP

Consumer Discretionary

6130.00

1.39%

25.04.2014

6996 JT Equity

NICHICON CORP

Information Technology

814.00

1.84%

26.09.2013

8185 JT Equity

CHIYODA CO LTD

Consumer Discretionary

2203.00

2.27%

28.08.2013

9302 JT Equity

MITSUI-SOKO CO LTD

Industrials

551.00

1.72%

26.09.2013

1824 JT Equity

MAEDA CORP

Industrials

370.00

1.89%

27.03.2014

4023 JT Equity

KUREHA CORP

Materials

345.00

2.90%

26.09.2013

6371 JT Equity

TSUBAKIMOTO CHAIN CO

Industrials

473.00

1.69%

26.09.2013

9086 JT Equity

HITACHI TRANSPORT SYSTEM LTD

Industrials

1455.00

1.51%

26.09.2013

8360 JT Equity

YAMANASHI CHUO BANK LTD/THE

Financials

417.00

1.44%

26.09.2013

5703 JT Equity

NIPPON LIGHT METAL HOLDINGS

Materials

114.00

2.63%

27.03.2014

8346 JT Equity

TOHO BANK LTD/THE

Financials

300.00

2.25%

26.09.2013

6330 JT Equity

TOYO ENGINEERING CORP

Industrials

416.00

1.20%

27.03.2014

9536 JT Equity

SAIBU GAS CO LTD

Utilities

221.00

2.71%

26.09.2013

1969 JT Equity

TAKASAGO THERMAL ENGINEERING

Industrials

773.00

3.23%

26.09.2013

9793 JT Equity

DAISEKI CO LTD

Industrials

1591.00

1.32%

28.08.2013

7994 JT Equity

OKAMURA CORP

Industrials

638.00

1.72%

26.09.2013

2590 JT Equity

DYDO DRINCO INC

Consumer Staples

4315.00

1.39%

16.07.2014

8051 JT Equity

YAMAZEN CORP

Industrials

639.00

2.03%

26.09.2013

4985 JT Equity

EARTH CHEMICAL CO LTD

Materials

3205.00

2.96%

26.12.2014

8841 JT Equity

TOC CO LTD

Financials

709.00

1.27%

26.09.2013

4708 JT Equity

MOSHI MOSHI HOTLINE INC

Industrials

1396.00

4.08%

26.09.2013

5423 JT Equity

TOKYO STEEL MFG CO LTD

Materials

417.00

0.72%

26.09.2013

6269 JT Equity

MODEC INC

Energy

2781.00

1.08%

26.06.2014

3087 JT Equity

DOUTOR NICHIRES HOLDINGS CO

Consumer Discretionary

1375.00

1.89%

28.08.2013

3092 JT Equity

START TODAY CO LTD

Consumer Discretionary

1153.00

1.73%

26.09.2013

4626 JT Equity

TAIYO HOLDINGS CO LTD

Materials

2766.00

3.43%

26.09.2013

8703 JT Equity

KABU.COM SECURITIES CO LTD

Financials

586.00

1.37%

27.03.2014

6349 JT Equity

KOMORI CORP

Industrials

925.00

1.08%

26.09.2013

2201 JT Equity

MORINAGA & CO LTD

Consumer Staples

215.00

2.79%

27.03.2014

7274 JT Equity

SHOWA CORP

Consumer Discretionary

995.00

2.41%

26.09.2013

8160 JT Equity

KISOJI CO LTD

Consumer Discretionary

1942.00

0.72%

26.09.2013

8325 JT Equity

HOKUETSU BANK LTD/THE

Financials

232.00

2.59%

26.09.2013

8624 JT Equity

ICHIYOSHI SECURITIES CO LTD

Financials

1056.00

2.84%

26.09.2013

3201 JT Equity

JAPAN WOOL TEXTILE CO LTD

Consumer Discretionary

704.00

2.56%

28.05.2014

6140 JT Equity

ASAHI DIAMOND INDUSTRIAL CO

Industrials

900.00

3.33%

26.09.2013

9678 JT Equity

KANAMOTO CO LTD

Industrials

1882.00

1.06%

25.04.2014

6104 JT Equity

TOSHIBA MACHINE CO LTD

Industrials

441.00

1.93%

26.09.2013

1820 JT Equity

NISHIMATSU CONSTRUCTION CO

Industrials

165.00

2.42%

27.03.2014

8706 JT Equity
6444 JT Equity

KYOKUTO SECURITIES
SANDEN CORP

Financials
Consumer Discretionary

1715.00
400.00

4.66%
2.50%

26.09.2013
27.03.2014

At The Money Implied Volatilities by Terms

Option Implied Volatility Skew Parameters by Terms:


2
IVt = atx + btx + ct

ATM3
ATM3
ATM3
ATM3
ATM3
ATM3
ATM3
Vol - 30D Vol - 60D Vol - 90D Vol - 6M Vol - 12M Vol - 18M Vol - 24M

Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew
(a) (a) (a) (a) (a) (a) (a) (b) (b) (b) (b) (b) (b) (b) 30D
60D
90D
6M
12M
18M
24M
30D
60D
90D
6M
12M
18M
24M

27.03.2013
26.09.2013

Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |

26.03.2013

TOPIX 1000 Index - TPX1000

Ticker
5707 JT Equity
7220 JT Equity
1942 JT Equity
4680 JT Equity
8056 JT Equity
1332 JT Equity
8342 JT Equity
1835 JT Equity
9477 JT Equity
7239 JT Equity
2127 JT Equity
8387 JT Equity
2874 JT Equity
8022 JT Equity
6773 JT Equity
7541 JT Equity
8613 JT Equity
5482 JT Equity
1983 JT Equity
9759 JT Equity
8339 JT Equity
9830 JT Equity
6581 JT Equity
6651 JT Equity
5191 JT Equity
1379 JT Equity
4548 JT Equity
8074 JT Equity
8338 JT Equity
7522 JT Equity
8179 JT Equity
1377 JT Equity
8392 JT Equity
5946 JT Equity
8214 JT Equity
5715 JT Equity
8879 JT Equity
7246 JT Equity
9787 JT Equity
9069 JT Equity
6767 JT Equity
1950 JT Equity
6013 JT Equity
8173 JT Equity
2681 JT Equity
3002 JT Equity
8278 JT Equity
9430 JT Equity
2815 JT Equity
4924 JT Equity
8279 JT Equity
6707 JT Equity
2730 JT Equity
8870 JT Equity
7238 JT Equity
6498 JT Equity
8170 JT Equity
6282 JT Equity
3715 JT Equity
1722 JT Equity
6756 JT Equity
6369 JT Equity
7732 JT Equity
5975 JT Equity
3106 JT Equity
8527 JT Equity
6741 JT Equity
6986 JT Equity
7581 JT Equity
5726 JT Equity
6118 JT Equity
7280 JT Equity
6454 JT Equity
9511 JT Equity
8251 JT Equity
6755 JT Equity
8550 JT Equity
3635 JT Equity
8545 JT Equity
9715 JT Equity
8343 JT Equity
6379 JT Equity
6287 JT Equity
8362 JT Equity
7226 JT Equity
8266 JT Equity
4958 JT Equity
8263 JT Equity
8151 JT Equity
7447 JT Equity
8880 JT Equity
6816 JT Equity
5186 JT Equity
2288 JT Equity
6339 JT Equity
8393 JT Equity
4914 JT Equity
8566 JT Equity
4201 JT Equity
5481 JT Equity
6961 JT Equity
2602 JT Equity
9792 JT Equity
3569 JT Equity
8871 JT Equity
4733 JT Equity
9938 JT Equity
4116 JT Equity
4212 JT Equity
7739 JT Equity
1973 JT Equity
7599 JT Equity
4471 JT Equity
6407 JT Equity
4919 JT Equity
8409 JT Equity
8098 JT Equity
6807 JT Equity
9755 JT Equity
9543 JT Equity
5959 JT Equity
6480 JT Equity
4282 JT Equity
9474 JT Equity
3151 JT Equity
2580 JT Equity

Name
TOHO ZINC CO LTD
MUSASHI SEIMITSU INDUSTRY CO
KANDENKO CO LTD
ROUND ONE CORP
NIHON UNISYS LTD
NIPPON SUISAN KAISHA LTD
AOMORI BANK LTD/THE
TOTETSU KOGYO CO LTD
KADOKAWA GROUP HOLDINGS INC
TACHI-S CO LTD
NIHON M&A CENTER INC
SHIKOKU BANK LTD/THE
YOKOHAMA REITO CO LTD
MIZUNO CORP
PIONEER CORP
MEGANE TOP CO LTD
MARUSAN SECURITIES CO LTD
AICHI STEEL CORP
TOSHIBA PLANT SYSTEMS & SERV
NSD CO LTD
TOKYO TOMIN BANK LTD/THE
TRUSCO NAKAYAMA CORP
HITACHI KOKI CO LTD
NITTO KOGYO CORP
TOKAI RUBBER INDUSTRIES
HOKUTO CORP
SEIKAGAKU CORP
YUASA TRADING CO LTD
TSUKUBA BANK LTD
WATAMI CO LTD
ROYAL HOLDINGS CO LTD
SAKATA SEED CORP
OITA BANK LTD/THE
CHOFU SEISAKUSHO CO LTD
AOKI HOLDINGS INC
FURUKAWA CO LTD
TOKYU LIVABLE INC
PRESS KOGYO CO LTD
AEON DELIGHT CO LTD
SENKO CO LTD
MITSUMI ELECTRIC CO LTD
NIPPON DENSETSU KOGYO CO LTD
TAKUMA CO LTD
JOSHIN DENKI CO LTD
GEO HOLDINGS CORP
GUNZE LTD
FUJI CO LTD
NEC MOBILING LTD
ARIAKE JAPAN CO LTD
DR CI:LABO CO LTD
YAOKO CO LTD
SANKEN ELECTRIC CO LTD
EDION CORP
SUMITOMO REAL ESTATE SALES
AKEBONO BRAKE INDUSTRY CO
KITZ CORP
ADERANS CO LTD
OILES CORP
DWANGO CO LTD
MISAWA HOMES CO LTD
HITACHI KOKUSAI ELECTRIC INC
TOYO KANETSU K K
TOPCON CORP
TOPRE CORP
KURABO INDUSTRIES LTD
AICHI BANK LTD/THE
NIPPON SIGNAL CO LTD/THE
FUTABA CORP/CHIBA
SAIZERIYA CO LTD
OSAKA TITANIUM TECHNOLOGIES
AIDA ENGINEERING LTD
MITSUBA CORP
MAX CO LTD
OKINAWA ELECTRIC POWER CO
PARCO CO LTD
FUJITSU GENERAL LTD
TOCHIGI BANK LTD/THE
TECMO KOEI HOLDINGS CO LTD
KANSAI URBAN BANKING CORP
TRANSCOSMOS INC
AKITA BANK LTD/THE
SHINKO PLANTECH CO LTD
SATO HOLDINGS CORP
FUKUI BANK LTD/THE
KYOKUTO KAIHATSU KOGYO CO
IZUMIYA CO LTD
T HASEGAWA CO LTD
DAIEI INC
TOYO CORP
NAGAILEBEN CO LTD
IIDA HOME MAX
ALPINE ELECTRONICS INC
NITTA CORP
MARUDAI FOOD CO LTD
SINTOKOGIO LTD
MIYAZAKI BANK LTD/THE
TAKASAGO INTERNATIONAL CORP
RICOH LEASING CO LTD
NIPPON SYNTHETIC CHEMICAL
SANYO SPECIAL STEEL CO LTD
ENPLAS CORP
NISSHIN OILLIO GROUP LTD/THE
NICHII GAKKAN CO
SEIREN CO LTD
GOLDCREST CO LTD
OBIC BUSINESS CONSULTANTS
SUMIKIN BUSSAN CORP
DAINICHISEIKA COLOR & CHEM
SEKISUI JUSHI CORP
CANON ELECTRONICS INC
NEC NETWORKS & SYSTEM INTEGR
GULLIVER INTERNATIONAL CO
SANYO CHEMICAL INDUSTRIES
CKD CORP
MILBON CO LTD
YACHIYO BANK LTD/THE
INABATA & CO LTD
JAPAN AVIATION ELECTRONICS
OYO CORP
SHIZUOKA GAS CO LTD
OKABE CO LTD
NIPPON THOMPSON CO LTD
EPS CORPORATION
ZENRIN CO LTD
VITAL KSK HOLDINGS INC
COCA-COLA CENTRAL JAPAN CO

GICS_SECTOR_NAME
Materials
Consumer Discretionary
Industrials
Consumer Discretionary
Information Technology
Consumer Staples
Financials
Industrials
Consumer Discretionary
Consumer Discretionary
Industrials
Financials
Consumer Staples
Consumer Discretionary
Consumer Discretionary
Consumer Discretionary
Financials
Materials
Industrials
Information Technology
Financials
Industrials
Industrials
Industrials
Consumer Discretionary
Consumer Staples
Health Care
Industrials
Financials
Consumer Discretionary
Consumer Discretionary
Consumer Staples
Financials
Consumer Discretionary
Consumer Discretionary
Industrials
Financials
Consumer Discretionary
Industrials
Industrials
Information Technology
Industrials
Industrials
Consumer Discretionary
Consumer Discretionary
Consumer Discretionary
Consumer Discretionary
Consumer Discretionary
Consumer Staples
Consumer Staples
Consumer Staples
Information Technology
Consumer Discretionary
Financials
Consumer Discretionary
Industrials
Consumer Staples
Industrials
Information Technology
Consumer Discretionary
Information Technology
Energy
Information Technology
Consumer Discretionary
Consumer Discretionary
Financials
Industrials
Industrials
Consumer Discretionary
Materials
Industrials
Consumer Discretionary
Industrials
Utilities
Consumer Discretionary
Consumer Discretionary
Financials
Information Technology
Financials
Information Technology
Financials
Energy
Industrials
Financials
Industrials
Consumer Staples
Materials
Consumer Discretionary
Information Technology
Health Care
Financials
Consumer Discretionary
Industrials
Consumer Staples
Industrials
Financials
Materials
Financials
Materials
Materials
Information Technology
Consumer Staples
Health Care
Consumer Discretionary
Financials
Information Technology
Industrials
Materials
Industrials
Information Technology
Information Technology
Consumer Discretionary
Materials
Industrials
Consumer Staples
Financials
Industrials
Information Technology
Industrials
Utilities
Industrials
Industrials
Health Care
Consumer Discretionary
Health Care
Consumer Staples

ATM3 Ref
381.00
2104.00
438.00
681.00
815.00
184.00
300.00
1518.00
2604.00
1641.00
4095.00
304.00
886.00
437.00
178.00
1274.00
713.00
384.00
1170.00
1089.00
1135.00
1875.00
788.00
1430.00
1081.00
1835.00
1044.00
207.00
507.00
1782.00
1258.00
1248.00
353.00
2035.00
2405.00
116.00
1944.00
475.00
1997.00
502.00
528.00
989.00
566.00
934.00
118600.00
256.00
1815.00
5510.00
1950.00
279200.00
3990.00
391.00
464.00
5560.00
425.00
478.00
1567.00
1789.00
384000.00
1469.00
845.00
345.00
836.00
957.00
179.00
5370.00
755.00
1021.00
1294.00
1836.00
766.00
1023.00
1196.00
3130.00
991.00
785.00
374.00
948.00
134.00
1350.00
271.00
796.00
1674.00
215.00
978.00
490.00
1368.00
317.00
1335.00
1383.00
1609.00
919.00
1729.00
333.00
845.00
271.00
516.00
2606.00
823.00
339.00
3965.00
359.00
852.00
618.00
2229.00
5500.00
337.00
458.00
1171.00
1875.00
1847.00
5160.00
518.00
607.00
3300.00
3350.00
698.00
738.00
1543.00
648.00
817.00
491.00
271100.00
1279.00
896.00
1187.00

Dividend
Yield

Next ExDividend
Date

1.31%
1.90%
2.74%
2.94%
1.35%
1.36%
2.00%
1.32%
1.34%
0.79%
1.34%
1.81%
2.26%
2.29%

27.03.2014
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
27.03.2014
27.03.2014
26.09.2013
26.09.2013
26.09.2013
27.03.2014
26.09.2013

1.10%
1.89%
2.60%
1.28%
2.48%
1.32%
3.28%
3.81%
2.66%
1.57%
3.11%
2.39%
2.42%
0.99%
1.68%
0.95%
1.60%
1.70%
1.47%
1.87%
1.72%
1.03%
1.79%
2.50%
2.59%

26.09.2013
26.09.2013
26.09.2013
26.09.2013
27.03.2014
27.03.2014
26.09.2013
26.06.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
27.03.2014
26.09.2013
26.12.2014
27.11.2013
26.09.2013
26.06.2014
26.09.2013

1.21%
0.71%
1.71%
2.53%
2.93%
0.83%
2.36%
2.46%
3.22%
1.38%
1.53%
4.31%
1.98%
2.35%
2.20%

27.03.2014
26.09.2013
28.08.2013
26.09.2013
27.03.2014
27.03.2014
26.09.2013
27.03.2014
26.09.2013
27.03.2014
28.08.2013
26.09.2013
26.09.2013
29.07.2014
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013

1.96%
0.52%
0.68%
1.42%
1.16%
0.96%
1.57%
2.79%
1.49%
1.85%
3.43%
1.39%
0.82%
2.22%
0.68%
3.01%
1.92%
1.82%
1.02%
1.87%
3.06%
2.24%
2.22%
2.21%
3.77%
2.15%
2.33%
1.12%
1.22%
1.83%

26.09.2013
26.09.2014
27.03.2014
26.09.2013
27.03.2014
26.09.2013
26.09.2013
27.03.2014
26.09.2013
26.09.2013
27.03.2013
27.08.2014
26.09.2013
27.03.2014
27.03.2014
27.03.2014
26.09.2013
28.08.2013
27.03.2014
26.09.2013
27.03.2014
27.03.2014
27.03.2013
26.09.2013
27.03.2014
26.09.2013
26.09.2013
26.09.2013
28.08.2013
27.03.2014

3.52%
2.53%
1.62%
2.18%
1.62%
2.70%
1.66%
2.21%
1.55%
1.59%
1.46%
2.65%
1.01%
2.79%
2.11%
2.02%
1.79%
1.82%
3.12%
2.62%
1.88%
3.47%
2.06%
1.74%
2.90%
1.98%
2.00%
1.79%
2.87%
1.49%
1.17%
1.39%
1.96%
2.24%
1.33%
2.31%
1.79%
3.03%

27.03.2014
27.08.2014
29.10.2013
26.09.2013
26.09.2013
27.03.2014
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
27.03.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.06.2013
26.09.2013
28.08.2013
26.09.2013
26.09.2013
18.06.2014
26.09.2013
26.09.2013
26.09.2013
26.06.2014
26.06.2014
26.06.2014
26.09.2013
27.03.2014
26.09.2013
26.09.2013
26.12.2013

At The Money Implied Volatilities by Terms

Option Implied Volatility Skew Parameters by Terms:


IVt = atx + btx2 + ct

ATM3
ATM3
ATM3
ATM3
ATM3
ATM3
ATM3
Vol - 30D Vol - 60D Vol - 90D Vol - 6M Vol - 12M Vol - 18M Vol - 24M

Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew
(a) (a) (a) (a) (a) (a) (a) (b) (b) (b) (b) (b) (b) (b) 30D
60D
90D
6M
12M
18M
24M
30D
60D
90D
6M
12M
18M
24M

44.19

43.37

43.20

-0.015 0.009

79.24

35.55

35.47

0.692 -0.138 0.026

Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |

0.005

0.002

0.000

0.000

-0.035 0.003

0.000

26.03.2013

TOPIX 1000 Index - TPX1000

Ticker

Name

GICS_SECTOR_NAME

ATM4 Ref

Dividend
Yield

Next ExDividend
Date

3048 JT Equity

BIC CAMERA INC

Consumer Discretionary

44100.00

2.27%

26.02.2014

8217 JT Equity

OKUWA CO LTD

Consumer Staples

1065.00

2.44%

16.08.2013

7867 JT Equity

TOMY COMPANY LTD

Consumer Discretionary

499.00

2.00%

26.09.2013

9945 JT Equity

PLENUS CO LTD

Consumer Discretionary

1488.00

3.36%

28.08.2013

4617 JT Equity

CHUGOKU MARINE PAINTS LTD

Materials

509.00

2.55%

26.09.2013

7231 JT Equity

TOPY INDUSTRIES LTD

Materials

219.00

1.83%

26.09.2013

6463 JT Equity

TPR CO LTD

Consumer Discretionary

1463.00

1.71%

26.09.2013

8396 JT Equity

EIGHTEENTH BANK LTD/THE

Financials

256.00

2.34%

26.09.2013

3141 JT Equity

WELCIA HOLDINGS CO LTD

Consumer Staples

4665.00

1.14%

26.02.2014

3107 JT Equity

DAIWABO HOLDINGS CO LTD

Information Technology

178.00

2.25%

27.03.2014

7740 JT Equity

TAMRON CO LTD

Consumer Discretionary

2067.00

2.42%

26.06.2014

5911 JT Equity

YOKOGAWA BRIDGE HOLDINGS COR

Industrials

801.00

1.12%

26.09.2013

8011 JT Equity

SANYO SHOKAI LTD

Consumer Discretionary

289.00

2.77%

26.12.2014

9746 JT Equity

TKC CORP

Information Technology

1733.00

2.54%

27.03.2014

7718 JT Equity

STAR MICRONICS CO LTD

Information Technology

901.00

2.89%

28.08.2013

4694 JT Equity

BML INC

Health Care

2558.00

1.66%

26.09.2013

5440 JT Equity

KYOEI STEEL LTD

Materials

1611.00

1.86%

26.09.2013

7943 JT Equity

NICHIHA CORP

Industrials

1353.00

1.48%

26.09.2013

2659 JT Equity

SAN-A CO LTD

Consumer Staples

4195.00

0.91%

26.02.2014

6905 JT Equity

COSEL CO LTD

Industrials

1074.00

1.96%

18.11.2013

3076 JT Equity

AI HOLDINGS CORP

Information Technology

881.00

2.27%

26.12.2013

7862 JT Equity

TOPPAN FORMS CO LTD

Industrials

861.00

2.90%

26.09.2013

6622 JT Equity

DAIHEN CORP

Industrials

281.00

2.49%

26.09.2013

6101 JT Equity

TSUGAMI CORP

Industrials

550.00

2.55%

26.09.2013

7102 JT Equity

NIPPON SHARYO LTD

Industrials

421.00

1.19%

26.09.2013

7516 JT Equity

KOHNAN SHOJI CO LTD

Consumer Discretionary

1183.00

2.87%

28.08.2013

8174 JT Equity

NIPPON GAS CO LTD

Energy

1126.00

1.33%

26.09.2013

7630 JT Equity

ICHIBANYA CO LTD

Consumer Discretionary

3850.00

1.43%

28.05.2014

1941 JT Equity

CHUDENKO CORP

Industrials

943.00

2.12%

26.09.2013

3148 JT Equity

CREATE SD HOLDINGS CO

Consumer Staples

3670.00

1.36%

27.11.2013

6332 JT Equity

TSUKISHIMA KIKAI CO LTD

Industrials

893.00

1.68%

26.09.2013

6632 JT Equity

JVC KENWOOD CORP

Consumer Discretionary

250.00

2.00%

27.03.2014

4028 JT Equity

ISHIHARA SANGYO KAISHA LTD

Materials

6951 JT Equity

JEOL LTD

Health Care

407.00

0.61%

27.03.2013

9682 JT Equity

DTS CORP

Information Technology

1591.00

1.89%

26.09.2013

6804 JT Equity

HOSIDEN CORP

Information Technology

551.00

2.72%

26.09.2013

3103 JT Equity

UNITIKA LTD

Consumer Discretionary

52.00

2726 JT Equity

PAL CO LTD

Consumer Discretionary

2595.00

0.77%

26.02.2014

8897 JT Equity

TAKARA LEBEN CO LTD

Financials

1435.00

1.18%

26.09.2013

4997 JT Equity

NIHON NOHYAKU CO LTD

Materials

621.00

1.45%

27.03.2014

8876 JT Equity

RELO HOLDINGS INC

Financials

4150.00

1.81%

27.03.2014

7517 JT Equity

KURODA ELECTRIC CO LTD

Industrials

1112.00

2.61%

26.09.2013

7483 JT Equity

DOSHISHA CO LTD

Consumer Discretionary

2791.00

2.06%

26.09.2013

5602 JT Equity

KURIMOTO LTD

Materials

317.00

1.26%

26.09.2013

8395 JT Equity

BANK OF SAGA LTD/THE

Financials

242.00

2.48%

26.09.2013

3395 JT Equity

SAINT MARC HOLDINGS CO LTD

Consumer Discretionary

4545.00

2.35%

26.09.2013

3864 JT Equity

MITSUBISHI PAPER MILLS LTD

Materials

97.00

1.03%

27.03.2014

7545 JT Equity

NISHIMATSUYA CHAIN CO LTD

Consumer Discretionary

742.00

2.96%

16.08.2013

2613 JT Equity

J-OIL MILLS INC

Consumer Staples

308.00

2.60%

26.09.2013

4551 JT Equity

TORII PHARMACEUTICAL CO LTD

Health Care

2296.00

1.83%

26.09.2013

6462 JT Equity

RIKEN CORP

Consumer Discretionary

395.00

2.53%

26.09.2013

3104 JT Equity

FUJIBO HOLDINGS INC

Consumer Discretionary

286.00

1.75%

27.03.2014

1518 JT Equity

MITSUI MATSUSHIMA CO LTD

Industrials

195.00

2.05%

27.03.2014

8283 JT Equity

PALTAC CORP

Consumer Discretionary

1219.00

3.28%

26.09.2013

6737 JT Equity

EIZO NANAO CORP

Information Technology

1660.00

3.01%

26.09.2013

1813 JT Equity

FUDO TETRA CORP

Industrials

177.00

6277 JT Equity

HOSOKAWA MICRON CORP

Industrials

801.00

1.50%

27.03.2014

6997 JT Equity

NIPPON CHEMI-CON CORP

Information Technology

242.00

7976 JT Equity

MITSUBISHI PENCIL CO LTD

Industrials

1687.00

1.54%

26.06.2014

9616 JT Equity

KYORITSU MAINTENANCE CO LTD

Consumer Discretionary

2682.00

1.45%

26.09.2013

6801 JT Equity

TOKO INC

Information Technology

275.00

2281 JT Equity

PRIMA MEAT PACKERS LTD

Consumer Staples

220.00

0.91%

27.03.2014

1515 JT Equity

NITTETSU MINING CO LTD

Materials

483.00

1.45%

26.09.2013

6413 JT Equity

RISO KAGAKU CORP

Information Technology

1914.00

2.61%

27.03.2014

7421 JT Equity

KAPPA CREATE HOLDINGS CO LTD

Consumer Discretionary

1898.00

1.58%

26.02.2014

8111 JT Equity

GOLDWIN INC

Consumer Discretionary

572.00

1.05%

27.03.2014

8907 JT Equity

HOOSIERS CORP

Consumer Discretionary

103600.00

0.68%

26.09.2013

5384 JT Equity

FUJIMI INC

Materials

1429.00

2.45%

26.09.2013

3950 JT Equity

PACK CORP/THE

Materials

1836.00

2.72%

26.06.2014

9882 JT Equity

YELLOW HAT LTD

Consumer Discretionary

1455.00

1.72%

26.09.2013

5851 JT Equity

RYOBI LTD

Industrials

231.00

2.60%

26.09.2013

5310 JT Equity

TOYO TANSO CO LTD

Industrials

2328.00

0.86%

28.05.2014

2664 JT Equity

CAWACHI LTD

Consumer Staples

1964.00

2.04%

12.03.2014

7840 JT Equity

FRANCE BED HOLDINGS CO LTD

Consumer Discretionary

214.00

1.99%

26.09.2013

7241 JT Equity

FUTABA INDUSTRIAL CO LTD

Consumer Discretionary

440.00

5727 JT Equity

TOHO TITANIUM CO LTD

Materials

754.00

0.40%

27.03.2014

1982 JT Equity

HIBIYA ENGINEERING LTD

Industrials

971.00

3.09%

26.09.2013

6794 JT Equity

FOSTER ELECTRIC CO LTD

Consumer Discretionary

1304.00

2.30%

26.09.2013

6820 JT Equity

ICOM INC

Information Technology

2397.00

0.83%

26.09.2013

1884 JT Equity

NIPPON ROAD CO LTD

Industrials

397.00

1.76%

27.03.2014

5192 JT Equity

MITSUBOSHI BELTING CO LTD

Industrials

497.00

3.02%

26.09.2013

1885 JT Equity

TOA CORP

Industrials

134.00

6728 JT Equity

ULVAC INC

Information Technology

777.00

1961 JT Equity

SANKI ENGINEERING CO LTD

Industrials

513.00

2.92%

26.09.2013

3167 JT Equity

TOKAI HOLDINGS CORP

Industrials

338.00

3.55%

26.09.2013

3028 JT Equity

ALPEN CO LTD

Consumer Discretionary

1727.00

2.17%

26.12.2013

2109 JT Equity

MITSUI SUGAR CO LTD

Consumer Staples

295.00

2.71%

26.09.2013

3738 JT Equity

T-GAIA CORP

Consumer Discretionary

1055.00

3.34%

26.09.2013

2211 JT Equity

FUJIYA CO LTD

Consumer Staples

201.00

1.00%

5563 JT Equity

NIPPON DENKO CO LTD

Materials

312.00

1.60%

26.12.2014

5930 JT Equity

BUNKA SHUTTER CO LTD

Industrials

476.00

2.31%

26.09.2013

5632 JT Equity

MITSUBISHI STEEL MFG CO LTD

Materials

202.00

0.99%

26.09.2013

7972 JT Equity

ITOKI CORP

Industrials

605.00

2.07%

26.12.2014

5331 JT Equity

NORITAKE CO LTD

Industrials

234.00

1.92%

27.03.2013

6877 JT Equity

OBARA GROUP INC

Industrials

1776.00

1.13%

27.03.2014

4633 JT Equity

SAKATA INX CORP

Materials

592.00

2.20%

26.09.2013

6875 JT Equity

MEGACHIPS CORP

Information Technology

1510.00

1.99%

27.03.2013

6839 JT Equity

FUNAI ELECTRIC CO LTD

Consumer Discretionary

1227.00

3.26%

27.03.2013

2327 JT Equity

NS SOLUTIONS CORP

Information Technology

1866.00

2.14%

26.09.2013

6517 JT Equity

DENYO CO LTD

Industrials

1243.00

1.37%

26.09.2013

7494 JT Equity

KONAKA CO LTD

Consumer Discretionary

1050.00

1.90%

27.03.2014

5812 JT Equity

HITACHI CABLE LTD

Industrials

149.00

6844 JT Equity

SHINDENGEN ELECTRIC MFG

Information Technology

377.00

0.93%

27.03.2014

5302 JT Equity

NIPPON CARBON CO LTD

Industrials

219.00

2.28%

26.12.2014

5805 JT Equity

SWCC SHOWA HOLDINGS CO LTD

Industrials

90.00

8037 JT Equity

KAMEI CORP

Industrials

1033.00

1.45%

26.09.2013

7294 JT Equity

YOROZU CORP

Consumer Discretionary

1640.00

1.16%

26.09.2013

4996 JT Equity

KUMIAI CHEMICAL INDUSTRY CO

Materials

556.00

1.08%

29.10.2014

4078 JT Equity

SAKAI CHEMICAL INDUSTRY CO

Materials

304.00

2.63%

26.09.2013

6706 JT Equity

DENKI KOGYO CO LTD

Information Technology

441.00

1.59%

27.03.2014

8059 JT Equity

DAIICHI JITSUGYO CO LTD

Industrials

515.00

3.11%

26.09.2013

2466 JT Equity

PGM HOLDINGS K K

Consumer Discretionary

78200.00

1.28%

26.12.2014

8133 JT Equity

ITOCHU ENEX CO LTD

Energy

528.00

3.03%

26.09.2013

6652 JT Equity

IDEC CORP

Industrials

880.00

3.41%

26.09.2013

7250 JT Equity

PACIFIC INDUSTRIAL CO LTD

Consumer Discretionary

562.00

1.60%

26.09.2013

8196 JT Equity

KASUMI CO LTD

Consumer Staples

564.00

2.48%

28.08.2013

6247 JT Equity

HISAKA WORKS LTD

Industrials

861.00

2.32%

26.09.2013

2678 JT Equity

ASKUL CORP

Consumer Discretionary

1350.00

2.22%

18.11.2013

1926 JT Equity

RAITO KOGYO CO LTD

Industrials

451.00

1.77%

27.03.2014

6730 JT Equity

AXELL CORP

Information Technology

2257.00

4.43%

26.09.2013

8536 JT Equity

HIGASHI-NIPPON BANK LTD/THE

Financials

261.00

3.07%

26.09.2013

6419 JT Equity

MARS ENGINEERING CORP

Consumer Discretionary

1983.00

2.77%

26.09.2013

6486 JT Equity
5195 JT Equity

EAGLE INDUSTRY CO LTD


BANDO CHEMICAL INDUSTRIES

Consumer Discretionary
Industrials

898.00
308.00

1.34%
2.92%

26.09.2013
26.09.2013

At The Money Implied Volatilities by Terms

Option Implied Volatility Skew Parameters by Terms:


2
IVt = atx + btx + ct

ATM4
ATM4
ATM4
ATM4
ATM4
ATM4
ATM4
Vol - 30D Vol - 60D Vol - 90D Vol - 6M Vol - 12M Vol - 18M Vol - 24M

Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew
(a) (a) (a) (a) (a) (a) (a) (b) (b) (b) (b) (b) (b) (b) 30D
60D
90D
6M
12M
18M
24M
30D
60D
90D
6M
12M
18M
24M

80.00

27.03.2014

27.03.2013

27.03.2014
26.06.2013

27.03.2013

27.03.2014

Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |

26.03.2013

TOPIX 1000 Index - TPX1000

Ticker
1301 JT Equity
9946 JT Equity
6999 JT Equity
8097 JT Equity
7995 JT Equity
3315 JT Equity
5809 JT Equity
7905 JT Equity
2108 JT Equity
2572 JT Equity
6929 JT Equity
6278 JT Equity
6430 JT Equity
6910 JT Equity
7245 JT Equity
7611 JT Equity
8200 JT Equity
5741 JT Equity
7456 JT Equity
1890 JT Equity
9037 JT Equity
2322 JT Equity
6507 JT Equity
9997 JT Equity
6676 JT Equity
9842 JT Equity
8141 JT Equity
2918 JT Equity
3529 JT Equity
6966 JT Equity
4549 JT Equity
8068 JT Equity
6440 JT Equity
5976 JT Equity
5410 JT Equity
6935 JT Equity
6363 JT Equity
6368 JT Equity
1964 JT Equity
4714 JT Equity
7942 JT Equity
7631 JT Equity
2695 JT Equity
2317 JT Equity
7958 JT Equity
8089 JT Equity
9900 JT Equity
8150 JT Equity
6641 JT Equity
1719 JT Equity
7283 JT Equity
6482 JT Equity
9305 JT Equity
5196 JT Equity
9742 JT Equity
4514 JT Equity
3730 JT Equity
1919 JT Equity
7613 JT Equity
8084 JT Equity
5017 JT Equity
2792 JT Equity
6985 JT Equity
2290 JT Equity
7236 JT Equity
6459 JT Equity
6584 JT Equity
2440 JT Equity
1968 JT Equity
3433 JT Equity
3397 JT Equity
7266 JT Equity
5449 JT Equity
9470 JT Equity
5480 JT Equity
5981 JT Equity
4109 JT Equity
6779 JT Equity
4775 JT Equity
3636 JT Equity
8168 JT Equity
5210 JT Equity
7007 JT Equity
8154 JT Equity
6798 JT Equity
3109 JT Equity
6345 JT Equity
7769 JT Equity
7970 JT Equity
1959 JT Equity
9370 JT Equity
6768 JT Equity
7944 JT Equity
6445 JT Equity
1661 JT Equity
4008 JT Equity
6859 JT Equity
6924 JT Equity
1805 JT Equity
6317 JT Equity
6617 JT Equity
1868 JT Equity
6742 JT Equity
8155 JT Equity
3333 JT Equity
2533 JT Equity
6815 JT Equity
8178 JT Equity
6796 JT Equity
6644 JT Equity
6355 JT Equity
1819 JT Equity
4228 JT Equity
6958 JT Equity
8029 JT Equity
8248 JT Equity
6723 JT Equity
5453 JT Equity
6505 JT Equity
4047 JT Equity
5344 JT Equity
7952 JT Equity
2715 JT Equity
4825 JT Equity
7873 JT Equity
7756 JT Equity

Name
KYOKUYO CO LTD
MINISTOP CO LTD
KOA CORP
SAN-AI OIL CO LTD
NIPPON VALQUA INDUSTRIES LTD
NIPPON COKE & ENGINEERING CO
TATSUTA ELEC WIRE & CABLE
DAIKEN CORP
NIPPON BEET SUGAR MFG CO LTD
MIKUNI COCA-COLA BOTTLING CO
NIPPON CERAMIC CO LTD
UNION TOOL CO
DAIKOKU DENKI CO LTD
HITACHI MEDICAL CORP
DAIDO METAL CO LTD
HIDAY HIDAKA CORP
RINGER HUT CO LTD
FURUKAWA-SKY ALUMINUM CORP
MATSUDA SANGYO CO LTD
TOYO CONSTRUCTION CO LTD
HAMAKYOREX CO LTD
NEC FIELDING LTD
SINFONIA TECHNOLOGY CO LTD
BELLUNA CO LTD
MELCO HOLDINGS INC
ARC LAND SAKAMOTO CO LTD
SHINKO SHOJI CO LTD
WARABEYA NICHIYO CO LTD
ATSUGI CO LTD
MITSUI HIGH-TEC INC
EIKEN CHEMICAL CO LTD
RYOYO ELECTRO CORP
JUKI CORP
NETUREN CO LTD
GODO STEEL LTD
JAPAN DIGITAL LABORATORY CO
TORISHIMA PUMP MFG CO LTD
ORGANO CORP
CHUGAI RO CO LTD
RISO KYOIKU CO LTD
JSP CORP
MACNICA INC
KURA CORP
SYSTENA CORP
TENMA CORP
NICE HOLDINGS INC
SAGAMI CHAIN CO LTD
SANSHIN ELECTRONICS CO LTD
NISSIN ELECTRIC CO LTD
HAZAMA CORP
AISAN INDUSTRY CO LTD
YUSHIN PRECISION EQUIPMENT
YAMATANE CORP
KINUGAWA RUBBER INDUSTRIAL
INES CORP
ASKA PHARMACEUTICAL CO LTD
MACROMILL INC
SXL CORP
SIIX CORP
RYODEN TRADING CO LTD
AOC HOLDINGS INC
HONEYS CO LTD
U-SHIN LTD
YONEKYU CORP
T RAD CO LTD
DAIWA INDUSTRIES LTD
SANOH INDUSTRIAL CO LTD
GURUNAVI INC
TAIHEI DENGYO KAISHA LTD
TOCALO CO LTD
TORIDOLL.CORP
IMASEN ELECTRIC INDUSTRIAL
OSAKA STEEL CO LTD
GAKKEN HOLDINGS CO LTD
NIPPON YAKIN KOGYO CO LTD
TOKYO ROPE MFG CO LTD
STELLA CHEMIFA CORP
NIHON DEMPA KOGYO CO LTD
SOGO MEDICAL CO LTD
MITSUBISHI RESEARCH INSTITUT
KEIYO CO LTD
NIHON YAMAMURA GLASS CO LTD
SASEBO HEAVY INDUSTRIES CO
KAGA ELECTRONICS CO LTD
SMK CORP
SHIKIBO LTD
AICHI CORP
RHYTHM WATCH CO LTD
SHIN-ETSU POLYMER CO LTD
KYUDENKO CORP
YUSEN LOGISTICS CO LTD
TAMURA CORP
ROLAND CORP
JANOME SEWING MACHINE CO LTD
KANTO NATURAL GAS DEVELOP
SUMITOMO SEIKA CHEMICALS CO
ESPEC CORP
IWASAKI ELECTRIC CO LTD
TOBISHIMA CORP
KITAGAWA IRON WORKS CO LTD
TAKAOKA TOKO HOLDINGS CO LTD
MITSUI HOME CO LTD
KYOSAN ELECTRIC MFG CO LTD
MIMASU SEMICONDUCTOR INDUST
ASAHI CO LTD
OENON HOLDINGS INC
UNIDEN CORP
MARUETSU INC/THE
CLARION CO LTD
OSAKI ELECTRIC CO LTD
SUMITOMO PRECISION PRODUCTS
TAIHEI KOGYO CO LTD
SEKISUI PLASTICS CO LTD
CMK CORP
LOOK INC
NISSEN HOLDINGS CO LTD
RENESAS ELECTRONICS CORP
TOYO KOHAN CO LTD
TOYO DENKI SEIZO -TOYO ELEC
KANTO DENKA KOGYO CO LTD
MARUWA CO LTD
KAWAI MUSICAL INSTRUMENTS MF
ELEMATEC CORP
WEATHERNEWS INC
ARRK CORP
NIDEC COPAL CORP

GICS_SECTOR_NAME
Consumer Staples
Consumer Staples
Information Technology
Energy
Materials
Materials
Industrials
Materials
Consumer Staples
Consumer Staples
Information Technology
Industrials
Consumer Discretionary
Health Care
Consumer Discretionary
Consumer Discretionary
Consumer Discretionary
Materials
Industrials
Industrials
Industrials
Information Technology
Industrials
Consumer Discretionary
Information Technology
Consumer Discretionary
Information Technology
Consumer Staples
Consumer Discretionary
Information Technology
Health Care
Information Technology
Industrials
Materials
Materials
Information Technology
Industrials
Industrials
Industrials
Consumer Discretionary
Materials
Information Technology
Consumer Discretionary
Information Technology
Materials
Consumer Discretionary
Consumer Discretionary
Information Technology
Industrials
Industrials
Consumer Discretionary
Industrials
Consumer Discretionary
Consumer Discretionary
Information Technology
Health Care
Information Technology
Consumer Discretionary
Information Technology
Information Technology
Energy
Consumer Discretionary
Consumer Discretionary
Consumer Staples
Consumer Discretionary
Industrials
Consumer Discretionary
Information Technology
Industrials
Industrials
Consumer Discretionary
Consumer Discretionary
Materials
Consumer Discretionary
Materials
Materials
Materials
Information Technology
Consumer Staples
Information Technology
Consumer Discretionary
Materials
Industrials
Information Technology
Information Technology
Consumer Discretionary
Industrials
Consumer Discretionary
Materials
Industrials
Industrials
Information Technology
Consumer Discretionary
Consumer Discretionary
Energy
Materials
Information Technology
Industrials
Industrials
Industrials
Industrials
Consumer Discretionary
Industrials
Information Technology
Consumer Discretionary
Consumer Staples
Information Technology
Consumer Staples
Consumer Discretionary
Information Technology
Industrials
Industrials
Materials
Information Technology
Consumer Discretionary
Consumer Discretionary
Information Technology
Materials
Industrials
Materials
Information Technology
Consumer Discretionary
Information Technology
Industrials
Industrials
Consumer Discretionary

ATM4 Ref
232.00
1510.00
875.00
478.00
252.00
129.00
554.00
267.00
189.00
923.00
1640.00
1867.00
2584.00
1443.00
759.00
2034.00
1181.00
297.00
1454.00
297.00
3620.00
1217.00
171.00
835.00
1642.00
1584.00
938.00
1506.00
115.00
694.00
1334.00
848.00
153.00
705.00
166.00
1150.00
800.00
533.00
266.00
9040.00
1403.00
1887.00
1637.00
90000.00
1122.00
238.00
794.00
654.00
457.00
224.00
886.00
1834.00
199.00
478.00
669.00
725.00
1162.00
156.00
1416.00
625.00
364.00
1132.00
629.00
888.00
257.00
536.00
675.00
1178.00
613.00
1436.00
989.00
1150.00
1595.00
281.00
108.00
116.00
1783.00
975.00
3385.00
2077.00
477.00
189.00
120.00
799.00
266.00
121.00
447.00
170.00
372.00
423.00
966.00
197.00
795.00
78.00
663.00
384.00
723.00
204.00
107.00
164.00
1452.00
504.00
337.00
804.00
1231.00
243.00
235.00
337.00
128.00
511.00
405.00
343.00
249.00
307.00
373.00
366.00
250.00
295.00
328.00
253.00
2704.00
180.00
1346.00
2355.00
165.00
650.00

Dividend
Yield

Next ExDividend
Date

2.16%
3.05%
2.29%
2.72%
3.97%
2.33%
1.62%
2.81%
2.65%
1.30%
1.22%
1.61%
1.55%
0.69%
1.71%
1.87%
0.85%
2.36%
1.65%
1.68%
1.13%
3.29%
1.75%
1.80%
2.44%
1.89%
3.73%
1.99%
2.61%
1.44%
2.25%
3.54%
1.96%
1.42%
0.90%
1.74%
2.25%
2.81%
2.26%
3.76%
2.21%
2.12%
0.73%
3.00%
2.23%
1.68%

27.03.2014
28.08.2013
26.09.2013
26.09.2013
26.09.2013
27.03.2014
26.09.2013
26.09.2013
27.03.2014
26.12.2013
26.12.2014
28.05.2014
26.09.2013
26.09.2013
26.09.2013
28.08.2013
28.08.2013
26.09.2013
26.09.2013
27.03.2014
26.09.2013
26.09.2013
27.03.2014
26.09.2013
26.09.2013
16.08.2013
26.09.2013
26.02.2014
27.03.2014
29.07.2014
26.09.2013
29.07.2014
26.12.2013
26.09.2013
27.03.2014
26.09.2013
26.09.2013
26.09.2013
27.03.2014
28.08.2013
26.09.2013
26.09.2013
29.10.2014
26.09.2013
26.09.2013
27.03.2014

3.36%
2.19%
1.34%
1.58%
1.09%
1.51%
1.67%
2.39%
1.93%
1.98%

26.09.2013
26.09.2013
27.03.2014
26.09.2013
26.09.2013
27.03.2014
26.09.2013
26.09.2013
26.09.2013
26.12.2013

2.26%
3.20%
1.65%
3.09%
1.59%
2.03%
2.33%
1.87%
2.96%
1.87%
2.45%
2.96%
1.87%
1.83%
1.41%
1.78%

26.06.2014
26.09.2013
27.03.2014
27.11.2013
28.05.2014
26.02.2014
26.09.2013
26.06.2014
26.09.2013
26.09.2013
27.03.2014
26.09.2013
27.03.2014
26.09.2013
26.09.2013
26.09.2014

5.01%
1.88%
1.65%
2.68%
1.47%
2.55%
2.36%
1.86%
1.52%
2.20%

27.03.2014
26.09.2013
26.09.2013
26.09.2013
27.03.2014
28.08.2013
26.09.2013
27.03.2014
26.09.2013
27.03.2014
27.03.2014
26.09.2013
27.03.2014
26.09.2013
26.09.2013
26.09.2013
26.09.2013
26.09.2013

1.81%
2.60%
2.63%

26.06.2014
26.09.2013
26.09.2013

1.22%
1.72%
3.17%
2.97%
3.11%
0.97%
2.88%
3.19%
1.78%

27.03.2014
27.03.2014
26.09.2013
26.09.2013
27.11.2013
18.02.2014
26.12.2014
27.03.2013
28.08.2013

2.64%
1.73%
2.33%
3.21%
0.81%
0.80%
2.73%

26.09.2013
26.09.2013
27.03.2014
26.09.2013
27.03.2013
26.12.2014
18.06.2014

2.71%
1.83%
1.58%
1.15%
2.22%
3.34%
1.70%

26.09.2013
28.05.2014
26.09.2013
26.09.2013
27.03.2014
26.09.2013
27.11.2013

2.31%

26.09.2013

2.13%
2.05%
2.51%
1.44%
2.62%
3.17%

At The Money Implied Volatilities by Terms

Option Implied Volatility Skew Parameters by Terms:


IVt = atx + btx2 + ct

ATM4
ATM4
ATM4
ATM4
ATM4
ATM4
ATM4
Vol - 30D Vol - 60D Vol - 90D Vol - 6M Vol - 12M Vol - 18M Vol - 24M

Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew Skew
(a) (a) (a) (a) (a) (a) (a) (b) (b) (b) (b) (b) (b) (b) 30D
60D
90D
6M
12M
18M
24M
30D
60D
90D
6M
12M
18M
24M

35.51

46.01

45.31

-0.047 0.152

Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |

0.272

0.011 -0.001 0.001

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