Global Undiscovered Gems With Strong Fundamentals

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

Ohashi Technica

Market Cap: JP¥28.5b

Develops, manufactures, and sells automotive parts and other components in Japan, the United States, Mexico, Thailand, Taiwan, China, and Europe.

GDEP ADVANCEInc

Market Cap: JP¥16.9b

Engages in the system incubation business in Japan.

GakkyushaLtd

Market Cap: JP¥25.2b

Manages cram schools that offers entrance exams guidance to junior high schools, high schools, and universities in Japan and internationally.

CHANGE HoldingsInc

Market Cap: JP¥78.3b

Provides IT human resources development training services in Japan.

FCE

Market Cap: JP¥16.9b

Through its subsidiaries, engages in the DX promotion, education and training, and publishing businesses in Japan.

DoshishaLtd

Market Cap: JP¥100.0b

Plans, develops, produces, and sells lifestyle-related products in Japan and Internationally.

Nippon Ski Resort DevelopmentLtd

Market Cap: JP¥27.5b

Manages and operates ski resorts in Japan.

ISE Chemicals

Market Cap: JP¥138.6b

Engages in the iodine and natural gas, and metallic compound businesses in Japan.

CAC Holdings

Market Cap: JP¥36.2b

Through its subsidiaries, provides information technology (IT) services in Japan and internationally.

Nice

Market Cap: JP¥22.8b

Imports, distributes, and sells building materials for housing in Japan and internationally.

AlpenLtd

Market Cap: JP¥91.8b

Engages in the development and sale of sporting products in Japan.

GlaxoSmithKlineE

Market Cap: ج.م5.7b

Engages in production of pharmaceutical chemicals.

Imuraya Group

Market Cap: JP¥33.2b

Manufactures and sells various food products in Japan and internationally.

Kondotec

Market Cap: JP¥43.0b

Engages in the manufacture, procurement, import, sale, wholesale, and export of industrial materials primarily in the retail hardware business in Japan and internationally.

Kyoritsu Electric

Market Cap: JP¥20.7b

Provides various systems, testing and measuring instruments, etc.

Hoshi Iryo-Sanki

Market Cap: JP¥15.0b

Manufactures and sells pharmaceutical medical oxygen and nitrous oxides in Japan.

ITOCHU-SHOKUHIN

Market Cap: JP¥128.4b

Engages in the wholesale of food products and alcoholic beverages in Japan.

CMC

Market Cap: JP¥22.9b

Provides manual creation, business process management, training, translation, and interpretation services in Japan.

OUG Holdings

Market Cap: JP¥21.7b

Through its subsidiaries, engages in the wholesale of marine products in Japan.

Chudenko

Market Cap: JP¥216.3b

Operates as an equipment engineering company in Japan.

Toho Bank

Market Cap: JP¥108.4b

Provides various banking products and services in Japan.

First Juken

Market Cap: JP¥17.0b

Engages in the construction and sale of detached houses in Japan.

Araya Industrial

Market Cap: JP¥25.0b

Manufactures and sells steel products in Japan and internationally.

YagiLtd

Market Cap: JP¥27.3b

Operates as a fiber trading company in Japan.

Konishi

Market Cap: JP¥83.5b

Manufactures and sells synthetic adhesives in Japan.

Kaneko Seeds

Market Cap: JP¥16.1b

Engages in the agribusiness in Japan.

Nippon Sharyo

Market Cap: JP¥41.2b

Engages in the railway vehicles, construction machinery, transportation equipment and steel structures, engineering, and other businesses in Japan, the United States, Asia, and internationally.

Tokyo Tekko

Market Cap: JP¥51.8b

Engages in the manufacture and sale of steel and reinforcing bars in Japan.

Taiyo KagakuLtd

Market Cap: JP¥35.8b

Manufactures and sells ingredients for food, beverage, supplement, and cosmetic applications in Japan and internationally.

NARUMIYA INTERNATIONAL

Market Cap: JP¥17.3b

Manufactures, processes, and sells clothing and related products.

Otec

Market Cap: JP¥27.6b

Trades pipework equipment in Japan.

Marusan Securities

Market Cap: JP¥64.2b

Engages in the financial products trading business in Japan.

Suez Canal Company for Technology Settling (S.A.E)

Market Cap: ج.م17.7b

Engages in the establishment and management of technological zones, scientific incubators, and training centers for the preparation of researchers and the transfer of technology, and the provision of related services.

MKH Berhad

Market Cap: RM 582.7m

An investment holding company, engages in the property development and construction, plantation, hotel and property investment, and other activities in Malaysia, the Peoples’ Republic of China, and Indonesia.

Mulpha International Bhd

Market Cap: RM 930.8m

An investment holding company, invests in the real estate and hospitality sectors in Malaysia, Australia, and New Zealand.