Incoming results: As the June quarter results season wraps up, we take stock of key trends using our analysts' structured Reaction to Earnings data set (see Asia Quantitative Strategy: Asian Research Alpha Tools – Signal Through the Noise for more background). Overall, for APxJ/EM we saw a net 4ppt of results beating consensus, although a net 5ppt of companies are expected to see 12-month consensus lowered. In Japan, these figures landed at a net 15% beat and net 14% expected to see consensus rise. August 2 ...