With all the talk of Mixi's 200+ PER, it was intersting to see this week's Nikkei Weekly report on the fact that many analysts are suggesting that the small caps in markets such as Mothers and JASDAQ are underpriced, with average PER's of 17.1, below the TOPIX average of 17.2. This situation presage a resurgence in the share prices of small caps in these markets.