A personal research project
Japan Research Portfolio
Research, put to the test. A record of my allocations, decisions and outcomes.
Simulated investments
Started 2 November 2026
¥10 million in hypothetical capital
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Return since inception
Invested in equities
Cash available
The whole portfolio, including cash
Performance over time
Where the capital sits
The decisions behind the numbers
Current holdings
| Company | First allocated | Weight current / initial target | Avg. entry incl. modeled cost | Latest close | Unrealized return |
|---|
Weights use current market values. Entry targets are preserved; price changes and whole-share rounding make current weights differ. Unrealized returns include purchase costs; portfolio return also includes cash and any recorded dividends.
From market data to the paper purchase
How the entry price is calculated
Every allocation has a date
Activity record
Read the numbers in context
How this portfolio works
This is my personal research project, shared alongside the Substack. It helps me revisit decisions and prepare for investing when I have surplus savings to commit for the long term. This publication and its paper portfolio are free and will never be monetized.
The publication is separate from my professional work through Japan Investor Interface Co., Ltd.
Whole shares, including odd lots
Holdings use whole shares. Quantities below Japan’s usual 100-share trading unit are allowed. A purchase uses the largest whole-share quantity within its allocation budget, including modeled transaction costs; the remainder stays in cash.
VWAP and the 0.2% cost assumption
The reference entry price is the chosen session’s volume-weighted average price (VWAP). Purchases add 0.2%; sales deduct 0.2%. This single hypothetical cost covers transaction friction for this simulation and is not a broker quotation.
The first decision was recorded after the November 2 close using that day’s full-session VWAP. It is a reference-priced simulation, not a claim that an order could have been filled at that price.
Performance, cash and dividends
Portfolio value equals cash plus holdings at their dated closing prices. Return since inception is the change from the original ¥10 million, after recorded transaction costs and including cash. Cash earns no interest. Verified dividends are credited to cash when paid; taxes are not modeled. No dividends have been recorded at launch.
Positions are marked at the close, without deducting a hypothetical future selling cost. A sale incurs its cost when recorded. Splits and other corporate actions require explicit ledger adjustments. No new external cash is assumed after inception.
Dates, sources and updates
This is a dated end-of-day record. The “Prices as of” date identifies the saved valuation; the page is not a live quote feed. Allocation dates and original entry references stay in the activity history as later observations are added.
The opening VWAP is calculated from the November 2 TSE session’s ¥42,390,800 traded value ÷ 73,100 shares = ¥579.9015. Source: JPX J-Quants daily price data. Calculations retain precision; displayed amounts are rounded.