1605.T

Hormuz Closure "Unexpected Winners" Index — Nuclear, Rail & Energy-Security Tilt

Inpex is Japan's LNG/upstream champion, gaining from LNG price spikes and Japan's energy-security push; cheapest valuation in the set (P/E 10.7, P/B 0.90) with a 2.9% yield. Smallest weight as the most commodity-cyclical, lower-growth name.