Japanese Undiscovered Gems With Strong Fundamentals

ROYAL HOLDINGS

Market Cap: JP¥129.5b

Through its subsidiaries, operates a chain of restaurants in Japan.

Asahi Diamond Industrial

Market Cap: JP¥36.3b

Manufactures and sells diamond tools in Japan, Asia/Oceania, Europe, North America, and internationally.

Sakata INX

Market Cap: JP¥98.0b

Manufactures and sells various printing inks and auxiliary agents in Japan and internationally.

E-Guardian

Market Cap: JP¥24.1b

An Internet security company, provides solutions to Internet security needs through post monitoring, customer support, debugging, and cyber security in Japan.

SAKURA Internet

Market Cap: JP¥165.2b

Provides cloud computing services in Japan.

Yokogawa Bridge Holdings

Market Cap: JP¥101.6b

Yokogawa Bridge Holdings Corp. constructs steel bridge projects in Japan and internationally.

NETSTARSLtd

Market Cap: JP¥14.9b

Engages in the QR code payment business in Japan.

SK-ElectronicsLTD

Market Cap: JP¥28.3b

Manufactures and sells large-format photomasks in Japan and internationally.

Yamaichi ElectronicsLtd

Market Cap: JP¥48.5b

Manufactures and sells test, connector, and optical-related products in Japan and internationally.

Tsuburaya Fields Holdings

Market Cap: JP¥125.7b

Engages in the content-related businesses in Japan.

JAC Recruitment

Market Cap: JP¥156.6b

Provides recruitment consultancy services in Japan.

SAN-ALTD

Market Cap: JP¥180.9b

Operates a chain of supermarkets in Okinawa.

Sinfonia TechnologyLtd

Market Cap: JP¥256.4b

Manufactures and sells various equipment.

GOLDCRESTLtd

Market Cap: JP¥110.7b

Engages in the planning, development, and sells of new condominiums in Japan.

Foster Electric Company

Market Cap: JP¥34.9b

Engages in the production and sale of loudspeakers, audio equipment, and electronical equipment in Japan and internationally.

Airport Facilities

Market Cap: JP¥41.6b

Engages in the real estate, area heating and cooling, water supply and drainage service, and other businesses in Japan.

JVCKENWOOD

Market Cap: JP¥174.9b

Manufactures and sells products in the mobility and telematics services, public service, and media service sectors in Japan and internationally.

Hokko Chemical Industry

Market Cap: JP¥35.6b

Manufactures and sells crop protection and fine chemicals products in Japan.

Tokyo Individualized Educational Institute

Market Cap: JP¥19.5b

Tokyo Individualized Educational Institute, Inc.

Morinaga&Co

Market Cap: JP¥201.7b

Manufactures, purchases, and sells confectionaries, food stuffs, frozen desserts, and health products in Japan and internationally.

JAFCO Group

Market Cap: JP¥130.0b

JAFCO Group Co., Ltd. formerly known as JAFCO Co., Ltd.

NSD

Market Cap: JP¥267.3b

Provides IT solutions in Japan.

Mimaki Engineering

Market Cap: JP¥53.3b

Develops, manufactures, and sells computer devices and software in Japan and internationally.

Chugoku Marine Paints

Market Cap: JP¥134.1b

Produces and sells functional coatings worldwide.

Furuno Electric

Market Cap: JP¥118.5b

Engages in the manufacture and sale of marine and industrial electronics equipment, wireless LAN system, and handy terminals in Japan, the Americas, Europe, rest of Asia, and internationally.

Fukui Computer HoldingsInc

Market Cap: JP¥60.8b

Engages in the development and sale of package CAD products for the construction industry in Japan.

Chiyoda

Market Cap: JP¥42.2b

Engages in the retail of shoes and sneakers in Japan.

Shin Maint HoldingsLtd

Market Cap: JP¥16.4b

Provides maintenance services in Japan.

SuzukiLtd

Market Cap: JP¥25.2b

Manufactures and sells connectors for car electronics parts in Japan.

Hoden Seimitsu Kako Kenkyusho

Market Cap: JP¥17.7b

Manufactures and sells electric discharge machining, industrial gas turbine parts, and other metal products.

Ki-Star Real EstateLtd

Market Cap: JP¥72.2b

KI-Star Real Estate Co.,Ltd operates as a real estate company.

CURVES HOLDINGS

Market Cap: JP¥63.4b

Engages in the operation and management of fitness club for women under the Curves brand name in Japan.

Hamakyorex

Market Cap: JP¥101.5b

Engages in 3PL logistics and truck transportation business in Japan and internationally.

SEIKOH GIKEN

Market Cap: JP¥48.1b

Engages in design, manufacture, and sale of optical components and lens, and radio over fiber products in Japan and internationally.

NittoseikoLtd

Market Cap: JP¥20.5b

Manufactures and sells industrial fasteners and tools, industrial machinery and precision equipment, measurement and control equipment, and medical equipment in Japan, rest of Asia, and internationally.

Fujibo Holdings

Market Cap: JP¥65.1b

Manufactures and sells polishing pads, industrial chemical products, and textile products in Japan and internationally.