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# Weekly Observatory Report — 2026-10-23
- URL: https://www.tsukiyoresearch.com/weekly-observatory-report-2026-10-23/
- Published: 2026-10-24T00:30:21.000Z
- Updated: 2026-10-24T00:30:21.000Z
- Description: Japan small caps, checked every night — week of 2026-10-23.
- Author: tsukiyo
- Tags: Weekly Report

Every listed Japanese equity, checked nightly. As of the 2026-10-23 close, **50** names are on the watchlist (pullbacks our rules classify as healthy) and **263** 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                                  | 3,965.8 | \-2.5% w/w  |
| Growth 250 (small-cap growth)          | 754.6   | \-3.2% w/w  |
| USD/JPY *(as of 2026-10-22)*           | ¥157.05 | \-0.93 w/w  |
| JGB 10-year yield *(as of 2026-10-22)* | 2.91%   | \-3bp w/w   |
| VIX *(as of 2026-10-21)*               | 16.7    | \-0.19 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 We do not publish forecasts.*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: **50** (24 core-size / 26 small & emerging). Most represented sectors: Information & Communication (12), Services (11), Electric Appliances (9). Warning flags: **263**.

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

| Ticker | Name                | Sector                      | Supply-demand tier | Business quality | Balance-sheet safety | Valuation |
| ------ | ------------------- | --------------------------- | ------------------ | ---------------- | -------------------- | --------- |
| 330A   | TalentX Inc.        | Information & Communication | A                  | High             | High                 | Cheap     |
| 9562   | Business Coach Inc. | Services                    | A                  | High             | High                 | Cheap     |
| 7409   | AeroEdge Co.,Ltd    | Transportation Equipment    | B                  | High             | High                 | 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           |
| ------ | --------------------------- | ----------- | ---------------- |
| 7373   | Aidma Holdings,Inc.         | \-2.1%      | Still monitoring |
| 247A   | Ai ROBOTICS INC.            | \-7.4%      | Did not hold     |
| 7711   | SUKEGAWA ELECTRIC CO.,LTD.  | \-8.7%      | Did not hold     |
| 6356   | NIPPON GEAR CO.,LTD.        | \-11.9%     | Did not hold     |
| 285A   | Kioxia Holdings Corporation | \-4.6%      | Still monitoring |
| 519A   | Basic Inc.                  | \-9.8%      | Did not hold     |

*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 2026-10-23 close | Rules: crash:v1 / market\_context:v1 | Body SHA-256: `921861d4374d7d7f` (hash of the content above this line)*