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# Weekly Observatory Report — 2026-10-09
- URL: https://www.tsukiyoresearch.com/weekly-observatory-report-2026-10-09/
- Published: 2026-10-10T00:30:16.000Z
- Updated: 2026-10-10T00:30:16.000Z
- Description: Japan small caps, checked every night — week of 2026-10-09.
- Author: tsukiyo
- Tags: Weekly Report

Every listed Japanese equity, checked nightly. As of the 2026-10-09 close, **4** names are on the watchlist (pullbacks our rules classify as healthy) and **110** carry warning flags.

*The full report — market context, the watchlist with tiers, and the scorecard of the prior issue's entries — is free to read during our open period.*

## Market context

|                                        | Level   | Week change |
| -------------------------------------- | ------- | ----------- |
| TOPIX                                  | 4,104.8 | +0.3% w/w   |
| Growth 250 (small-cap growth)          | 806.6   | +1.1% w/w   |
| USD/JPY *(as of 2026-10-08)*           | ¥158.28 | +0.30 w/w   |
| JGB 10-year yield *(as of 2026-10-08)* | 3.09%   | \-0bp w/w   |
| VIX *(as of 2026-10-07)*               | 15.1    | \-1.26 w/w  |

*Reference data only — TOPIX/Growth250 from exchange data, USD/JPY from ECB reference rates (FRED fallback), JGB from Ministry of Finance, VIX from FRED. We do not publish forecasts.*

## This week's observatory

Watchlist: **4** (2 core-size / 2 small & emerging). Most represented sectors: Information & Communication (2), Electric Power & Gas (1), Retail Trade (1). Warning flags: **110**.

### Watchlist notables (supply-demand tier A/B)

| Ticker | Name                            | Sector       | Supply-demand tier | Business quality | Balance-sheet safety | Valuation |
| ------ | ------------------------------- | ------------ | ------------------ | ---------------- | -------------------- | --------- |
| 5889   | Japan Eyewear Holdings Co.,Ltd. | Retail Trade | B                  | High             | Medium               | Cheap     |

*Tier reflects margin-trading supply and demand (A = light, B = neutral); it is not a ranking. Labels are systematic, not ratings. These are observations, not recommendations.*

## Scorecard — how last week's entries actually did

| Ticker | Name                                    | Since entry | Status            |
| ------ | --------------------------------------- | ----------- | ----------------- |
| 7564   | WORKMAN CO.,LTD.                        | +2.5%       | Still monitoring  |
| 9552   | Quants Research Institute Holdings,Inc. | +13.9%      | Rebound confirmed |
| 4058   | Toyokumo,Inc.                           | +5.9%       | Rebound confirmed |
| 350A   | DIGITAL GRID Corporation                | +2.3%       | Still monitoring  |
| 3659   | NEXON Co.,Ltd.                          | \-1.7%      | Still monitoring  |
| 3854   | I'LL INC                                | +4.7%       | Still monitoring  |

*Return from the prior issue's as-of close to this issue's. Every issue includes this scorecard — wins and losses, timestamped. Nothing is deleted retroactively.*

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*Tsukiyo Research provides data and analysis for informational purposes only. Nothing here is investment advice or a recommendation to buy or sell any security. We are not a registered investment advisor in any jurisdiction. Past performance does not guarantee future results.*

*Data as-of 2026-10-09 close | Rules: crash:v1 / market\_context:v1 | Body SHA-256: `d1e65dc845e69ebe` (hash of the content above this line)*