{"schema_version":"v1","slug":"overnight-intraday-jp-growth","name":"Overnight vs Intraday Return (JP Growth Stocks)","name_i18n":{},"verdict":"rejected","asset_class":"equity","categories":["intraday","overnight","return-decomposition"],"hypothesis":"Lou, Polk, Skouras (2019): decompose returns into overnight (Close→Open) and intraday (Open→Close) components. Tests whether one component has more predictive power for future cross-sectional returns.","rejection_reason":{"primary":"no_edge","secondary":[],"narrative":"Across 768 grid combinations, median Sharpe=-0.40, best=0.86. Primary failure mode: no_edge."},"target_universe":{"description":"Tokyo Stock Exchange Growth Market, ~495 stocks, tv >= 30M JPY","symbols":[]},"performance_summary":{"sharpe_median":-0.3996,"max_drawdown_pct":-24.5,"win_rate":null,"alpha_annualized_pct":null,"p_value":0.36,"backtest_period":{"start":"2022-02-01","end":"2026-09-01"}},"grid_summary":{"sharpe":{"p25":-0.82,"p75":-0.04,"best":0.86,"worst":-1.99,"median":-0.4},"n_combinations":768},"methodology":{"notes":"{\"walk_forward_definition\": {\"type\": \"single_pass\", \"description\": \"Full period backtest without walk-forward split\", \"verdict_basis\": \"full_period\"}}","signal":null,"benchmark":null,"rebalance":null,"slippage_model":"open-on-open + variable bps fixed","position_sizing":"equal_weight","regime_definition":"N225 SMA20/SMA60 three-class","transaction_cost_bps":5},"provenance":{"data_source":"kabu STATION REST API + J-Quants daily bars","source_project":"qbuntu-analysis","computed_asof":"2026-09-24T21:54:28","git_sha_z":"1455e77","git_sha_genkidama":"17a7674","python_version":"3.12.10","numpy_version":"2.4.2","pandas_version":"3.0.0","tier":"shallow"},"runs":[{"run_id":"r-overnight-intraday-jp-growth-0000","name":"signal_type=overnight, formation_days=5, holding_days=1, n_stocks=5, cost_bps=5, regime_gate=False","params":{"cost_bps":5,"n_stocks":5,"regime_gate":false,"signal_type":"overnight","holding_days":1,"formation_days":5},"performance":{"sharpe":-0.34,"max_drawdown_pct":-17.6,"alpha_annualized_pct":-3.4,"p_value":0.45,"regime_breakdown":{"UP":-1.483997,"DOWN":-5.625018,"FLAT":0.18409}},"executed_at":"2026-09-23T20:44:28","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0001","name":"signal_type=overnight, formation_days=5, holding_days=1, n_stocks=5, cost_bps=5, regime_gate=True","params":{"cost_bps":5,"n_stocks":5,"regime_gate":true,"signal_type":"overnight","holding_days":1,"formation_days":5},"performance":{"sharpe":-0.48,"max_drawdown_pct":-22.7,"alpha_annualized_pct":-5,"p_value":0.3,"regime_breakdown":{"UP":-1.737955,"DOWN":-5.625018,"FLAT":0.18409}},"executed_at":"2026-09-23T20:44:28","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0002","name":"signal_type=overnight, formation_days=5, holding_days=1, n_stocks=5, cost_bps=10, regime_gate=False","params":{"cost_bps":10,"n_stocks":5,"regime_gate":false,"signal_type":"overnight","holding_days":1,"formation_days":5},"performance":{"sharpe":-0.47,"max_drawdown_pct":-20.9,"alpha_annualized_pct":-4.6,"p_value":0.31,"regime_breakdown":{"UP":-1.655555,"DOWN":-5.789867,"FLAT":0.063433}},"executed_at":"2026-09-23T20:44:29","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0003","name":"signal_type=overnight, formation_days=5, holding_days=1, n_stocks=5, cost_bps=10, regime_gate=True","params":{"cost_bps":10,"n_stocks":5,"regime_gate":true,"signal_type":"overnight","holding_days":1,"formation_days":5},"performance":{"sharpe":-0.58,"max_drawdown_pct":-26.4,"alpha_annualized_pct":-6.1,"p_value":0.21,"regime_breakdown":{"UP":-1.798521,"DOWN":-5.789867,"FLAT":0.063433}},"executed_at":"2026-09-23T20:44:29","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0012","name":"signal_type=overnight, formation_days=5, holding_days=1, n_stocks=50, cost_bps=5, regime_gate=False","params":{"cost_bps":5,"n_stocks":50,"regime_gate":false,"signal_type":"overnight","holding_days":1,"formation_days":5},"performance":{"sharpe":-1.43,"max_drawdown_pct":-13.6,"alpha_annualized_pct":-3.1,"p_value":0.0028,"regime_breakdown":{"UP":-0.620589,"DOWN":-12.213318,"FLAT":-1.551734}},"executed_at":"2026-09-23T20:44:31","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0014","name":"signal_type=overnight, formation_days=5, holding_days=1, n_stocks=50, cost_bps=10, regime_gate=False","params":{"cost_bps":10,"n_stocks":50,"regime_gate":false,"signal_type":"overnight","holding_days":1,"formation_days":5},"performance":{"sharpe":-1.99,"max_drawdown_pct":-17.6,"alpha_annualized_pct":-4.3,"p_value":0.000059,"regime_breakdown":{"UP":-1.21513,"DOWN":-15.11889,"FLAT":-2.082956}},"executed_at":"2026-09-23T20:44:31","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0042","name":"signal_type=overnight, formation_days=5, holding_days=10, n_stocks=20, cost_bps=10, regime_gate=False","params":{"cost_bps":10,"n_stocks":20,"regime_gate":false,"signal_type":"overnight","holding_days":10,"formation_days":5},"performance":{"sharpe":-0.22,"max_drawdown_pct":-11.7,"alpha_annualized_pct":-1.9,"p_value":0.64,"regime_breakdown":{"UP":0.690999,"DOWN":-3.914879,"FLAT":-0.341984}},"executed_at":"2026-09-23T20:44:36","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0048","name":"signal_type=overnight, formation_days=5, holding_days=20, n_stocks=5, cost_bps=5, regime_gate=False","params":{"cost_bps":5,"n_stocks":5,"regime_gate":false,"signal_type":"overnight","holding_days":20,"formation_days":5},"performance":{"sharpe":-0.04,"max_drawdown_pct":-35.4,"alpha_annualized_pct":-1.3,"p_value":0.93,"regime_breakdown":{"UP":0.406303,"DOWN":-0.428858,"FLAT":-0.143226}},"executed_at":"2026-09-23T20:44:37","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0080","name":"signal_type=overnight, formation_days=10, holding_days=5, n_stocks=5, cost_bps=5, regime_gate=False","params":{"cost_bps":5,"n_stocks":5,"regime_gate":false,"signal_type":"overnight","holding_days":5,"formation_days":10},"performance":{"sharpe":-0.52,"max_drawdown_pct":-39.2,"alpha_annualized_pct":-9.1,"p_value":0.26,"regime_breakdown":{"UP":-1.3584,"DOWN":0.01535,"FLAT":-0.311239}},"executed_at":"2026-09-23T20:44:43","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0117","name":"signal_type=overnight, formation_days=10, holding_days=20, n_stocks=10, cost_bps=5, regime_gate=True","params":{"cost_bps":5,"n_stocks":10,"regime_gate":true,"signal_type":"overnight","holding_days":20,"formation_days":10},"performance":{"sharpe":-0.25,"max_drawdown_pct":-46.6,"alpha_annualized_pct":-5.4,"p_value":0.59,"regime_breakdown":{"UP":-1.10306,"DOWN":-0.054835,"FLAT":-0.02474}},"executed_at":"2026-09-23T20:44:50","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0154","name":"signal_type=overnight, formation_days=20, holding_days=5, n_stocks=20, cost_bps=10, regime_gate=False","params":{"cost_bps":10,"n_stocks":20,"regime_gate":false,"signal_type":"overnight","holding_days":5,"formation_days":20},"performance":{"sharpe":-0.31,"max_drawdown_pct":-15.2,"alpha_annualized_pct":-2.4,"p_value":0.5,"regime_breakdown":{"UP":-1.323778,"DOWN":-3.687854,"FLAT":0.435647}},"executed_at":"2026-09-23T20:44:57","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0191","name":"signal_type=overnight, formation_days=20, holding_days=20, n_stocks=50, cost_bps=10, regime_gate=True","params":{"cost_bps":10,"n_stocks":50,"regime_gate":true,"signal_type":"overnight","holding_days":20,"formation_days":20},"performance":{"sharpe":-0.52,"max_drawdown_pct":-19.2,"alpha_annualized_pct":-5.2,"p_value":0.26,"regime_breakdown":{"UP":-0.001326,"DOWN":-2.391895,"FLAT":-0.87422}},"executed_at":"2026-09-23T20:45:04","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0192","name":"signal_type=overnight, formation_days=60, holding_days=1, n_stocks=5, cost_bps=5, regime_gate=False","params":{"cost_bps":5,"n_stocks":5,"regime_gate":false,"signal_type":"overnight","holding_days":1,"formation_days":60},"performance":{"sharpe":-0.91,"max_drawdown_pct":-30.3,"alpha_annualized_pct":-7.7,"p_value":0.053,"regime_breakdown":{"UP":-0.186514,"DOWN":-1.995459,"FLAT":-1.131579}},"executed_at":"2026-09-23T20:45:04","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0229","name":"signal_type=overnight, formation_days=60, holding_days=10, n_stocks=10, cost_bps=5, regime_gate=True","params":{"cost_bps":5,"n_stocks":10,"regime_gate":true,"signal_type":"overnight","holding_days":10,"formation_days":60},"performance":{"sharpe":0.19,"max_drawdown_pct":-23.5,"alpha_annualized_pct":4.3,"p_value":0.68,"regime_breakdown":{"UP":0.655592,"DOWN":-1.595338,"FLAT":0.070979}},"executed_at":"2026-09-23T20:45:11","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0256","name":"signal_type=intraday, formation_days=5, holding_days=1, n_stocks=5, cost_bps=5, regime_gate=False","params":{"cost_bps":5,"n_stocks":5,"regime_gate":false,"signal_type":"intraday","holding_days":1,"formation_days":5},"performance":{"sharpe":-0.7,"max_drawdown_pct":-42.7,"alpha_annualized_pct":-7.5,"p_value":0.13,"regime_breakdown":{"UP":0.275383,"DOWN":-0.809317,"FLAT":-1.016268}},"executed_at":"2026-09-23T20:45:16","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0267","name":"signal_type=intraday, formation_days=5, holding_days=1, n_stocks=20, cost_bps=10, regime_gate=True","params":{"cost_bps":10,"n_stocks":20,"regime_gate":true,"signal_type":"intraday","holding_days":1,"formation_days":5},"performance":{"sharpe":-0.8,"max_drawdown_pct":-22.1,"alpha_annualized_pct":-3.7,"p_value":0.085,"regime_breakdown":{"UP":-0.77777,"DOWN":2.398676,"FLAT":-0.878873}},"executed_at":"2026-09-23T20:45:18","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0304","name":"signal_type=intraday, formation_days=5, holding_days=20, n_stocks=5, cost_bps=5, regime_gate=False","params":{"cost_bps":5,"n_stocks":5,"regime_gate":false,"signal_type":"intraday","holding_days":20,"formation_days":5},"performance":{"sharpe":-0.47,"max_drawdown_pct":-81.5,"alpha_annualized_pct":-15.9,"p_value":0.31,"regime_breakdown":{"UP":1.035577,"DOWN":-3.824234,"FLAT":-0.568349}},"executed_at":"2026-09-23T20:45:25","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0341","name":"signal_type=intraday, formation_days=10, holding_days=5, n_stocks=10, cost_bps=5, regime_gate=True","params":{"cost_bps":5,"n_stocks":10,"regime_gate":true,"signal_type":"intraday","holding_days":5,"formation_days":10},"performance":{"sharpe":-0.7,"max_drawdown_pct":-35.1,"alpha_annualized_pct":-7,"p_value":0.13,"regime_breakdown":{"UP":-0.023011,"DOWN":1.269243,"FLAT":-0.98754}},"executed_at":"2026-09-23T20:45:32","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0378","name":"signal_type=intraday, formation_days=10, holding_days=20, n_stocks=20, cost_bps=10, regime_gate=False","params":{"cost_bps":10,"n_stocks":20,"regime_gate":false,"signal_type":"intraday","holding_days":20,"formation_days":10},"performance":{"sharpe":-1.27,"max_drawdown_pct":-67.4,"alpha_annualized_pct":-18.3,"p_value":0.0077,"regime_breakdown":{"UP":-0.162214,"DOWN":-0.721212,"FLAT":-1.619997}},"executed_at":"2026-09-23T20:45:39","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0415","name":"signal_type=intraday, formation_days=20, holding_days=5, n_stocks=50, cost_bps=10, regime_gate=True","params":{"cost_bps":10,"n_stocks":50,"regime_gate":true,"signal_type":"intraday","holding_days":5,"formation_days":20},"performance":{"sharpe":-0.64,"max_drawdown_pct":-16,"alpha_annualized_pct":-2.9,"p_value":0.17,"regime_breakdown":{"UP":-0.593857,"DOWN":-0.959098,"FLAT":-0.633665}},"executed_at":"2026-09-23T20:45:46","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0452","name":"signal_type=intraday, formation_days=60, holding_days=1, n_stocks=10, cost_bps=5, regime_gate=False","params":{"cost_bps":5,"n_stocks":10,"regime_gate":false,"signal_type":"intraday","holding_days":1,"formation_days":60},"performance":{"sharpe":-0.88,"max_drawdown_pct":-29.4,"alpha_annualized_pct":-6.2,"p_value":0.06,"regime_breakdown":{"UP":-0.612792,"DOWN":0.788364,"FLAT":-1.073849}},"executed_at":"2026-09-23T20:45:53","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0489","name":"signal_type=intraday, formation_days=60, holding_days=10, n_stocks=20, cost_bps=5, regime_gate=True","params":{"cost_bps":5,"n_stocks":20,"regime_gate":true,"signal_type":"intraday","holding_days":10,"formation_days":60},"performance":{"sharpe":-0.36,"max_drawdown_pct":-25.6,"alpha_annualized_pct":-4,"p_value":0.44,"regime_breakdown":{"UP":0.195972,"DOWN":-1.102439,"FLAT":-0.547133}},"executed_at":"2026-09-23T20:46:00","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0512","name":"signal_type=overnight_minus_intraday, formation_days=5, holding_days=1, n_stocks=5, cost_bps=5, regime_gate=False","params":{"cost_bps":5,"n_stocks":5,"regime_gate":false,"signal_type":"overnight_minus_intraday","holding_days":1,"formation_days":5},"performance":{"sharpe":0.71,"max_drawdown_pct":-8.6,"alpha_annualized_pct":7.6,"p_value":0.12,"regime_breakdown":{"UP":-0.862529,"DOWN":-0.523886,"FLAT":1.242549}},"executed_at":"2026-09-23T20:46:04","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0527","name":"signal_type=overnight_minus_intraday, formation_days=5, holding_days=1, n_stocks=50, cost_bps=10, regime_gate=True","params":{"cost_bps":10,"n_stocks":50,"regime_gate":true,"signal_type":"overnight_minus_intraday","holding_days":1,"formation_days":5},"performance":{"sharpe":-1.15,"max_drawdown_pct":-14.2,"alpha_annualized_pct":-3.4,"p_value":0.015,"regime_breakdown":{"UP":-0.685302,"DOWN":-5.636185,"FLAT":-1.51869}},"executed_at":"2026-09-23T20:46:07","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0564","name":"signal_type=overnight_minus_intraday, formation_days=5, holding_days=20, n_stocks=10, cost_bps=5, regime_gate=False","params":{"cost_bps":5,"n_stocks":10,"regime_gate":false,"signal_type":"overnight_minus_intraday","holding_days":20,"formation_days":5},"performance":{"sharpe":0.47,"max_drawdown_pct":-31.1,"alpha_annualized_pct":11.1,"p_value":0.31,"regime_breakdown":{"UP":-0.283249,"DOWN":1.998208,"FLAT":0.533148}},"executed_at":"2026-09-23T20:46:14","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0601","name":"signal_type=overnight_minus_intraday, formation_days=10, holding_days=5, n_stocks=20, cost_bps=5, regime_gate=True","params":{"cost_bps":5,"n_stocks":20,"regime_gate":true,"signal_type":"overnight_minus_intraday","holding_days":5,"formation_days":10},"performance":{"sharpe":0.25,"max_drawdown_pct":-14.5,"alpha_annualized_pct":1.9,"p_value":0.59,"regime_breakdown":{"UP":-0.322866,"DOWN":-3.82972,"FLAT":0.652185}},"executed_at":"2026-09-23T20:46:21","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0628","name":"signal_type=overnight_minus_intraday, formation_days=10, holding_days=20, n_stocks=10, cost_bps=5, regime_gate=False","params":{"cost_bps":5,"n_stocks":10,"regime_gate":false,"signal_type":"overnight_minus_intraday","holding_days":20,"formation_days":10},"performance":{"sharpe":0.86,"max_drawdown_pct":-10.3,"alpha_annualized_pct":14.1,"p_value":0.068,"regime_breakdown":{"UP":-0.282636,"DOWN":0.411447,"FLAT":1.324321}},"executed_at":"2026-09-23T20:46:26","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0639","name":"signal_type=overnight_minus_intraday, formation_days=10, holding_days=20, n_stocks=50, cost_bps=10, regime_gate=True","params":{"cost_bps":10,"n_stocks":50,"regime_gate":true,"signal_type":"overnight_minus_intraday","holding_days":20,"formation_days":10},"performance":{"sharpe":-0.15,"max_drawdown_pct":-22.4,"alpha_annualized_pct":-1.5,"p_value":0.74,"regime_breakdown":{"UP":-0.612583,"DOWN":-0.211132,"FLAT":0.135174}},"executed_at":"2026-09-23T20:46:28","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0676","name":"signal_type=overnight_minus_intraday, formation_days=20, holding_days=10, n_stocks=10, cost_bps=5, regime_gate=False","params":{"cost_bps":5,"n_stocks":10,"regime_gate":false,"signal_type":"overnight_minus_intraday","holding_days":10,"formation_days":20},"performance":{"sharpe":-0.23,"max_drawdown_pct":-29.5,"alpha_annualized_pct":-3.1,"p_value":0.61,"regime_breakdown":{"UP":0.191822,"DOWN":-4.743211,"FLAT":-0.115715}},"executed_at":"2026-09-23T20:46:35","notes":null},{"run_id":"r-overnight-intraday-jp-growth-0713","name":"signal_type=overnight_minus_intraday, formation_days=60, holding_days=1, n_stocks=20, cost_bps=5, regime_gate=True","params":{"cost_bps":5,"n_stocks":20,"regime_gate":true,"signal_type":"overnight_minus_intraday","holding_days":1,"formation_days":60},"performance":{"sharpe":-0.51,"max_drawdown_pct":-11.9,"alpha_annualized_pct":-2.3,"p_value":0.27,"regime_breakdown":{"UP":-0.475517,"DOWN":-0.17373,"FLAT":-0.543039}},"executed_at":"2026-09-23T20:46:42","notes":null}],"facts":[{"fact_id":"overnight-intraday-jp-growth-fact-best-sharpe","strategy_slug":"overnight-intraday-jp-growth","claim":"Best grid Sharpe ratio is 0.86 (p=0.068).","value":0.86,"value_text":null,"unit":"sharpe_ratio","context":"period 2022-02-01–2026-09-01; cost=5bps","supports_verdict":"rejected","source_run_id":"r-overnight-intraday-jp-growth-0628","search_tsv":"'-01':12,15 '-02':11 '-09':14 '0.068':8 '0.86':6 '2022':10 '2026':13 '5bps':17 'best':1 'cost':16 'grid':2 'p':7 'period':9 'ratio':4 'sharp':3","cite_url":"https://qbuntu.ai/cite/overnight-intraday-jp-growth-fact-best-sharpe"},{"fact_id":"overnight-intraday-jp-growth-fact-median-sharpe","strategy_slug":"overnight-intraday-jp-growth","claim":"Median Sharpe across 768 grid runs is -0.40.","value":-0.4,"value_text":null,"unit":"sharpe_ratio","context":"Full grid of 768 parameter combinations.","supports_verdict":"rejected","source_run_id":null,"search_tsv":"'-0.40':8 '768':4,12 'across':3 'combin':14 'full':9 'grid':5,10 'median':1 'paramet':13 'run':6 'sharp':2","cite_url":"https://qbuntu.ai/cite/overnight-intraday-jp-growth-fact-median-sharpe"},{"fact_id":"overnight-intraday-jp-growth-fact-regime-down","strategy_slug":"overnight-intraday-jp-growth","claim":"Median Sharpe in DOWN regime is -1.71 across 768 runs.","value":-1.71,"value_text":null,"unit":"sharpe_ratio","context":"Regime=DOWN, N225 SMA20/SMA60 classification.","supports_verdict":"rejected","source_run_id":null,"search_tsv":"'-1.71':7 '768':9 'across':8 'classif':15 'median':1 'n225':13 'regim':5,11 'run':10 'sharp':2 'sma20/sma60':14","cite_url":"https://qbuntu.ai/cite/overnight-intraday-jp-growth-fact-regime-down"},{"fact_id":"overnight-intraday-jp-growth-fact-regime-flat","strategy_slug":"overnight-intraday-jp-growth","claim":"Median Sharpe in FLAT regime is -0.37 across 768 runs.","value":-0.37,"value_text":null,"unit":"sharpe_ratio","context":"Regime=FLAT, N225 SMA20/SMA60 classification.","supports_verdict":"rejected","source_run_id":null,"search_tsv":"'-0.37':7 '768':9 'across':8 'classif':15 'flat':4,12 'median':1 'n225':13 'regim':5,11 'run':10 'sharp':2 'sma20/sma60':14","cite_url":"https://qbuntu.ai/cite/overnight-intraday-jp-growth-fact-regime-flat"},{"fact_id":"overnight-intraday-jp-growth-fact-regime-up","strategy_slug":"overnight-intraday-jp-growth","claim":"Median Sharpe in UP regime is -0.38 across 768 runs.","value":-0.38,"value_text":null,"unit":"sharpe_ratio","context":"Regime=UP, N225 SMA20/SMA60 classification.","supports_verdict":"rejected","source_run_id":null,"search_tsv":"'-0.38':7 '768':9 'across':8 'classif':15 'median':1 'n225':13 'regim':5,11 'run':10 'sharp':2 'sma20/sma60':14","cite_url":"https://qbuntu.ai/cite/overnight-intraday-jp-growth-fact-regime-up"}],"related_strategies":[],"tags":["overnight","intraday","return-decomposition","growth-market","grid-search"],"_links":{"self":"https://qbuntu.ai/v1/strategies/overnight-intraday-jp-growth","html":"https://qbuntu.ai/strategies/overnight-intraday-jp-growth","markdown":"https://qbuntu.ai/ai/strategies/overnight-intraday-jp-growth.md"}}