TPX 1000 Index - Dividends and Implied Volatility Surfaces Parameters

Page 1

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


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.