AlpharvestProCANSLIM for Japanese Growth Stocks: Finding TSE Leaders with William O'Neil's Method日股成長股投資指南：用威廉·J·歐尼爾的 CANSLIM 方法挖掘東京交易所主流強勢股
What Is CANSLIM, and Why It Is a Growth-Stock Method
CANSLIM is the growth-stock investing method developed by William J. O'Neil after he studied the biggest stock-market winners of the past century. It is an acronym for seven traits those winning growth stocks shared before their largest advances — a blend of fundamentals (strong, accelerating earnings) and technicals (relative strength, a proper base, institutional buying). It is not a value method and not a dividend method: CANSLIM is explicitly about finding fast-growing companies early in a durable uptrend.
That is exactly why it maps so well onto a Japanese growth-stock search. Japan's market has long been seen as a value market, but the post-2022 TSE reforms — governance pressure, higher ROE targets, buybacks — have produced a fresh crop of genuine growth leaders. A disciplined CANSLIM screen is how you separate those true growth stocks from the thousands of names simply drifting with the index.
CANSLIM 是什麼，為何是成長股的投資方法
CANSLIM 是威廉·J·歐尼爾研究了過去一個世紀股市最大漲幅標的後所開發的成長股投資方法。這個首字母縮寫詞代表這些勝出股票在大漲之前共同具備的七大特質——基本面（強勁且加速的獲利成長）與技術面（相對強度、正確的底部型態、法人買盤）的綜合體。CANSLIM 既非價值投資，也非股息投資：它明確聚焦於在持久上升趨勢的早期階段找到快速成長的企業。
這正是它非常適合用於日股成長股篩選的原因。日本市場長期被視為價值市場，但 2022 年後的東京證券交易所（TSE）改革——公司治理壓力、更高的 ROE 目標、庫藏股買回——催生了一批真正的成長股領頭羊。嚴謹的 CANSLIM 篩選，正是將這些真正的成長股從數千支隨指數漂移的個股中分離出來的方法。
The Seven CANSLIM Criteria
O'Neil's seven conditions, and what each looks for in a growth stock:
| Letter | Criterion | What it screens for |
|---|---|---|
| **C** | Current quarterly earnings | Sharp EPS growth in the latest quarter (O'Neil looked for +25% or more year-over-year) |
| **A** | Annual earnings growth | Multi-year EPS growth, ideally accelerating, over the last three years |
| **N** | New | A new product, new management, or — technically — the stock making new highs |
| **S** | Supply & demand | Rising volume on up-days; a reasonable share count (demand overwhelming supply) |
| **L** | Leader, not laggard | High relative strength — own the leaders of leading groups, not the cheap laggards |
| **I** | Institutional sponsorship | Increasing ownership by funds; smart money accumulating |
| **M** | Market direction | The general market is in a confirmed uptrend (three of four winners follow the market) |
The genius of CANSLIM is the combination: C and A are the growth engine, L and M are the timing, and N, S, I confirm the market agrees. Screening on any one criterion alone misses the point. See the full CANSLIM framework guide →
CANSLIM 的七大條件
歐尼爾的七大條件，以及每項條件在成長股篩選中的作用：
| 字母 | 條件 | 篩選內容 |
|---|---|---|
| **C** | 當季獲利 | 最新一季 EPS 大幅成長（歐尼爾以年增 25% 以上為基準） |
| **A** | 年度獲利成長 | 過去三年多年期 EPS 成長，最好呈加速態勢 |
| **N** | 新動能 | 新產品、新管理層，或——從技術面來說——股價創新高 |
| **S** | 供需關係 | 上漲日成交量放大；合理的流通股數（需求壓過供給） |
| **L** | 龍頭股，而非落後股 | 高相對強度——持有領漲類股的主流強勢股，避開低價落後股 |
| **I** | 法人持股 | 基金持股增加；聰明錢正在買進籌碼 |
| **M** | 大盤方向 | 整體市場處於確認上升趨勢（四支成長股中有三支跟隨大盤） |
CANSLIM 的精妙之處在於組合：C 和 A 是成長引擎，L 和 M 提供進場時機，N、S、I 則確認市場認同這支個股。單憑任何一個條件篩選，都會偏離 CANSLIM 的核心精神。查看完整 CANSLIM 方法框架 →
Applying CANSLIM to Japanese Growth Stocks
A few things change when you run CANSLIM on the Tokyo Stock Exchange rather than the US market:
- Earnings data (C & A). Japanese quarterly results (kessan) and EPS growth are the fundamental core. AlpharvestPro reads Japanese fundamentals from J-Quants, so the C and A criteria are computed on real reported figures, not estimates.
- New highs (N). A growth stock breaking to a new 52-week high on the TSE is the same tell it is anywhere — it signals the market re-rating the company's growth.
- Leadership (L). Relative strength is ranked against the whole TSE universe (~3,900 names), so an RS-strong Japanese growth stock is a genuine domestic leader, not just a name that rose with the Nikkei.
- Institutions (I) & Market (M). Fund accumulation and overall TSE breadth put the growth story in context — the strongest Japanese growth stock still struggles when Japanese breadth turns negative.
The universe matters too: most investors start with the JPX-400 (a quality- and governance-screened index) before widening to the full TSE, because CANSLIM's fundamental criteria are only reliable on names with real, reported earnings. See the Japan stock screener guide →
將 CANSLIM 應用於日股成長股
在東京證券交易所（TSE）而非美國市場執行 CANSLIM 時，有幾件事會有所不同：
- 財報數據（C 與 A）。 日本季度財報與 EPS 成長率是基本面的核心。AlpharvestPro 從 J-Quants 讀取日本財報資料，因此 C 和 A 條件均以實際申報數字計算，而非預估值。
- 創新高（N）。 一支日股在 TSE 突破 52 週新高，傳達的訊號與在其他市場完全相同——顯示市場正在重新評估該公司的成長潛力。
- 領漲股（L）。 相對強度以整個 TSE 市場（約 3,900 支股票）為基準排名，因此 RS 強勢的日股成長股，代表它是真正的國內龍頭，而非僅僅跟著日經指數上漲。
- 法人（I）與大盤（M）。 基金的買盤動向與 TSE 整體市場寬度，為成長故事提供了重要背景——即使是最強的日股成長股，當日本市場寬度轉負時，也會舉步維艱。
選股範疇同樣關鍵：多數投資人在擴展至整個 TSE 之前，會從 JPX-400（按品質與公司治理篩選的指數）開始，因為 CANSLIM 的基本面條件只有在擁有真實申報獲利的個股上才具有可信度。查看日股篩選指南 →
Fundamentals Meet Technicals: CANSLIM + RS, Stage 2 & VCP
CANSLIM is a fundamental-plus-technical method, which is why AlpharvestPro pairs it with the same trend layers used across every market:
| Layer | CANSLIM letter it reinforces | Deep-dive guide |
|---|---|---|
| **RS Rating** | **L** (leadership) | Relative strength |
| **Stage 2 / Trend Template** | **M** + **N** (uptrend, new highs) | Minervini stage analysis |
| **VCP base** | **S** (supply drying up before demand) | VCP pattern detection |
Concretely, AlpharvestPro scores each Japanese name on a 12-point CANSLIM/SEPA scale — EPS growth and acceleration, revenue growth and acceleration, ROE, margins, debt-to-equity, earnings surprise, cash flow, institutional ownership and forward valuation — then requires the technical picture (RS ≥ 70, a confirmed Stage 2 trend, a tightening VCP base) to line up before a name is worth researching. Strong fundamentals in a downtrend, or a great chart with no earnings, both fail. See the full momentum-screening pillar guide →
基本面與技術面的融合：CANSLIM + RS、第二階段與 VCP
CANSLIM 是基本面與技術面兼具的方法，因此 AlpharvestPro 將其與各市場通用的相同趨勢分析架構結合使用：
| 分析層次 | 所強化的 CANSLIM 字母 | 深度指南 |
|---|---|---|
| **RS 評級** | **L**（領漲股） | 相對強度 |
| **第二階段 / 趨勢範本** | **M** + **N**（上升趨勢、創新高） | 明納維尼階段分析 |
| **VCP 底部** | **S**（需求湧現前供給已乾涸） | VCP 型態偵測 |
具體而言，AlpharvestPro 以 12 分制 CANSLIM/SEPA 評分對每支日股成長股評分——EPS 成長率與加速度、營收成長率與加速度、ROE、利潤率、負債比率、財報驚喜、現金流、法人持股比例與遠期估值——再要求技術面圖像（RS ≥ 70、確認的第二階段趨勢、收縮中的 VCP 底部）同步到位，才列為研究候選標的。強勁的基本面若處於下跌趨勢中不合格；優秀的圖表若無業績支撐同樣不合格。查看動能選股總指南 →
How AlpharvestPro Screens Japanese Growth Stocks with CANSLIM
The Japan pipeline runs the same disciplined process every Tokyo trading day:
- Build the universe — load the full TSE (~3,900 names), with the JPX-400 marked as the focused, quality-screened subset.
- Score fundamentals (C, A, I) — compute the 12-point CANSLIM/SEPA score from J-Quants earnings data; keep the strong, accelerating growers.
- Rank by relative strength (L) — keep the leaders (RS ≥ 70), the growth stocks the market is actually rewarding.
- Confirm the trend and base (N, S, M) — require a Stage 2 uptrend and flag tightening VCP bases and new-high breakouts on rising volume.
- Check Japanese market breadth (M) — read the % of TSE stocks above MA50/MA200 to judge whether the environment supports new growth-stock entries.
The result is a short, ranked list of Japanese growth-stock candidates for research — never a "buy list." Every name still needs your own chart and risk work. See today's Japan candidates →
AlpharvestPro 如何篩選日股 CANSLIM 成長股
日股資料管道在每個東京交易日執行相同的嚴謹流程：
- 建立選股範疇 — 載入完整的 TSE 市場（約 3,900 支股票），並將 JPX-400（按品質與公司治理篩選的子集）標記為聚焦範疇。
- 基本面評分（C、A、I） — 依 J-Quants 財報資料計算 12 分制 CANSLIM/SEPA 評分；保留獲利強勁且加速成長的日股成長股。
- 依相對強度排名（L） — 保留主流強勢股（RS ≥ 70）——那些市場真正給予報酬的成長股。
- 確認趨勢與底部（N、S、M） — 要求第二階段上升趨勢，並標記正在收縮的 VCP 底部及伴隨放量的新高突破。
- 確認日股市場寬度（M） — 讀取站在 MA50／MA200 上方的 TSE 股票比例，判斷整體環境是否支持新進場的成長股機會。
結果是一份簡短的日股成長股研究候選名單——絕非「買進清單」。每支候選股仍需你自行完成圖表分析與風險管控。查看今日日本候選標的 →
Common Mistakes Applying CANSLIM to Japanese Stocks
- Treating CANSLIM as value investing — it is a *growth* method. Cheap, low-growth Japanese names will never pass C and A no matter how low the P/E.
- Fundamentals without the chart — a high-EPS-growth Japanese stock in a downtrend is not a CANSLIM buy. L and M (leadership and market direction) are non-negotiable.
- Ignoring the general market (M) — three of four growth stocks follow the market. Screen for growth all you like; entries fail when TSE breadth is negative. Market breadth guide →
- Screening thin small-caps with no earnings visibility — CANSLIM needs real, reported earnings. Start with the JPX-400, not illiquid Growth-segment micro-caps.
- Treating the screen as a buy list — a screener produces *candidates*. The chart, the risk and the entry are still your decisions.
將 CANSLIM 應用於日股的常見失誤
- 將 CANSLIM 誤認為價值投資 — 這是一套*成長股*方法。獲利成長緩慢的低價日股，無論本益比多低，都無法通過 C 和 A 的篩選。
- 只看基本面、忽略圖表 — 一支 EPS 高速成長的日股成長股若處於下跌趨勢，仍不構成 CANSLIM 的買進理由。領漲（L）與大盤方向（M）是不可妥協的條件。
- 忽視整體大盤（M） — 四支成長股中有三支跟隨大盤。無論多努力選股，當 TSE 市場寬度轉負時，進場都會失敗。市場寬度指南 →
- 篩選無業績可循的低流動性小型股 — CANSLIM 需要真實申報的獲利數據。從 JPX-400 開始，而非低流動性的成長板微型股。
- 將篩選結果視為買進清單 — 選股工具篩出的是*候選標的*。圖表、風險與進場判斷，仍是你自己的決策。
Related Guides & Live Tools
Start here:
Momentum Stock Screener (pillar guide)
Most related:
CANSLIM Screening Across 4 Markets ·
Methodology guides:
Minervini Stage Analysis (SEPA) ·
Live tools:
相關指南與即時工具
從這裡開始：
最相關指南：
方法論指南：
RS 評級 ·
VCP 型態偵測 ·
即時工具：
日本每日候選標的 ·
FAQ
Can CANSLIM be used on Japanese stocks?
Yes. CANSLIM is a methodology, not a market — the seven criteria (strong current and annual earnings, new highs, supply/demand, leadership, institutional buying, market direction) apply to the TSE the same way they do to the US. AlpharvestPro computes a 12-point CANSLIM/SEPA score on Japanese names every trading day from J-Quants earnings data.
What makes a Japanese growth stock under CANSLIM?
Sharp and accelerating earnings growth (the C and A criteria), high relative strength versus the whole TSE (leadership), rising volume and institutional accumulation, and a confirmed Stage 2 uptrend — all while the general Japanese market is advancing. Growth of earnings, not a low valuation, is the pivot.
Is CANSLIM a growth-stock or value-stock method?
It is firmly a growth-stock method. William O'Neil built it from studying history's biggest winners, which were fast-growing companies — not cheap, slow-growing ones. A low P/E alone will never pass a CANSLIM screen.
How is CANSLIM different from Minervini's SEPA for Japanese stocks?
They are complementary. CANSLIM weights the fundamental growth story (earnings) more heavily; Minervini's SEPA and Stage 2 template focus on the trend and base structure. AlpharvestPro fuses both into one score, so a Japanese candidate must be a fundamental grower and in a technical uptrend.
Do I need Japanese earnings data to run CANSLIM?
Yes — the C, A and I criteria depend on real reported earnings and ownership. AlpharvestPro sources Japanese fundamentals from J-Quants so you don't have to gather them yourself; the screen runs on reported figures.
Is this a buy list, and is it free?
No, and yes. The screen narrows the TSE to growth-stock candidates for research, not a buy list — your own chart, risk and entry decisions come after. The interactive screener has a free tier and the daily Japan candidate lists are free to view. This content is educational and not investment advice.
常見問題
CANSLIM 可以用於日股嗎？
可以。CANSLIM 是一套方法論，而非針對特定市場。七大條件（強勁的當季與年度獲利、創新高、供需關係、領漲股、法人買盤、大盤方向）在 TSE 的適用性與美國市場完全相同。AlpharvestPro 每個交易日以 J-Quants 財報資料對日本股票計算 12 分制 CANSLIM/SEPA 評分。
在 CANSLIM 方法下，日股成長股的定義是什麼？
獲利大幅且加速成長（C 和 A 條件），相對整個 TSE 市場的高相對強度（領漲股），成交量放大與法人持股增加，以及確認的第二階段上升趨勢——同時整體日本大盤也在上漲。獲利成長才是核心，而非低估值。
CANSLIM 是成長股還是價值股的方法？
它是純粹的成長股方法。威廉·J·歐尼爾藉由研究歷史上最大的贏家股票——都是快速成長的企業，而非低廉的緩成長個股——建構了這套方法。單憑低本益比，永遠無法通過 CANSLIM 篩選。
日股中，CANSLIM 與明納維尼的 SEPA 有何不同？
兩者是互補關係。CANSLIM 更重視業績這一基本面成長故事；明納維尼的 SEPA 與第二階段範本則聚焦於趨勢與底部結構。AlpharvestPro 將兩者融合為單一評分，因此日股候選標的必須同時具備基本面成長與技術面上升趨勢。
執行 CANSLIM 需要日本財報數據嗎？
需要——C、A 和 I 條件均依賴真實申報的獲利數據與持股資訊。AlpharvestPro 從 J-Quants 取得日本基本面資料，所以你不必自行蒐集；篩選直接以申報數字為基礎執行。
這是買進清單嗎？免費嗎？
不是，而且是免費的。這份篩選結果將 TSE 縮小為成長股研究候選名單，並非買進清單——圖表、風險與進場判斷仍在篩選之後由你自行決定。互動式選股工具設有免費方案，日本每日候選標的清單也可免費瀏覽。本內容僅供教育目的，不構成投資建議。
This content is for educational and informational purposes only. It does not constitute financial advice, investment recommendations, or solicitation to buy or sell securities.
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