Japanese Undiscovered Gems With Strong Fundamentals

Central Forest Group

Market Cap: JP¥23.5b

Engages in the wholesale of food, alcoholic beverages, and other related consumer products in Japan.

TOMONY Holdings

Market Cap: JP¥168.3b

Through its subsidiaries, provides various banking and financial products and services.

Maezawa Kasei Industries

Market Cap: JP¥28.6b

Produces and sells water and sewerage related products, and environmental equipment.

NS United Kaiun Kaisha

Market Cap: JP¥184.3b

Engages in the marine transportation services and related business in Japan and internationally.

Tamagawa Holdings

Market Cap: JP¥17.4b

Engages in the electronic and communication equipment business and renewable energy.

Ryoyu Systems

Market Cap: JP¥37.7b

Provides design, development, operation and maintenance of information and communication systems for various industries in Japan.

Nippon Sharyo

Market Cap: JP¥47.6b

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

Imuraya Group

Market Cap: JP¥28.6b

Manufactures and sells various food products in Japan and internationally.

Cresco

Market Cap: JP¥61.6b

Engages in the provision of information technology (IT) services and digital solutions in Japan.

Ogaki Kyoritsu Bank

Market Cap: JP¥292.7b

A regional financial institution, provides various financial products and services in Japan and internationally.

GDEP ADVANCEInc

Market Cap: JP¥16.3b

Engages in the system incubation business in Japan.

NPR-Riken

Market Cap: JP¥104.1b

Manufactures and sells automobile engine parts, marine engine parts, and other products in Japan and internationally.

Marusan Securities

Market Cap: JP¥68.7b

Engages in the financial products trading business in Japan.

Wacoal Holdings

Market Cap: JP¥228.0b

Engages in the manufacturing, wholesale, and retail sale of intimate apparel, outerwear, sportswear, and other textile products and accessories in Japan, Asia, Oceania, the United States, and Europe.

Soracom

Market Cap: JP¥54.1b

Provides Internet of Things (IoT) based cellular connectivity solutions.

Bell-ParkLtd

Market Cap: JP¥34.1b

Bell-Park Co.,Ltd. provide services for information and communication equipment, and services in Japan.

Nikkato

Market Cap: JP¥17.3b

Manufactures and sells industrial ceramics consumables in Japan.

Yashima Denki

Market Cap: JP¥60.0b

Engages in the plant, public/facilities, and transportation businesses in Japan and internationally.

Soliton Systems K.K

Market Cap: JP¥39.0b

Engages in the development and sale of IT security-related products in Japan, the United States, and internationally.

Innotech

Market Cap: JP¥51.0b

Engages in the import and sale of electronic design automation software, electric components, and semiconductor products in Japan and internationally.

OUG Holdings

Market Cap: JP¥23.1b

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

Taiyo KagakuLtd

Market Cap: JP¥42.5b

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

Toho Bank

Market Cap: JP¥187.9b

Provides various banking products and services in Japan.

Mr Max Holdings

Market Cap: JP¥23.7b

Operates discount stores in Japan.

QuickLtd

Market Cap: JP¥42.1b

Engages in the recruiting, human resources service, information publishing, and Internet-related businesses in Japan and internationally.

ISE Chemicals

Market Cap: JP¥213.8b

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

Pacific Metals

Market Cap: JP¥40.2b

Produces and sells ferro-nickel and ferro-nickel slag products in Japan and internationally.

Tohoku Steel

Market Cap: JP¥33.2b

Manufactures, processes, and distributes various types of special steel products in Japan.

Tsubakimoto Kogyo

Market Cap: JP¥49.5b

Engages in the sale of machinery, equipment, parts, and accessories in Japan.

Otec

Market Cap: JP¥36.1b

Trades pipework equipment in Japan.

Techno Ryowa

Market Cap: JP¥129.8b

Engages in the design, construction, and maintenance of environmental control systems primarily in Japan.

Yukiguni Factory

Market Cap: JP¥41.9b

Manufactures and sells mushrooms and other food products under the Yukiguni brand name in Japan.

Ebara JitsugyoLtd

Market Cap: JP¥56.1b

Manufactures and sells environmentally related products.

Cyber Security Cloud

Market Cap: JP¥18.8b

Provides web application security services in Japan.

Cota

Market Cap: JP¥29.5b

Manufactures and sells of hair cosmetics and quasi drugs in Japan and internationally.

Wowow

Market Cap: JP¥28.9b

Provides broadcasting and related services in Japan.