Japanese Strong Past Earnings Growth, P/E Ratio Below 20

Marubeni

Market Cap: JP¥6.6t

Marubeni Corporation purchases, distributes, and markets industrial and consumer goods.

Central Japan Railway

Market Cap: JP¥4.0t

Engages in the railway and related businesses in Japan.

Nippon Paint Holdings

Market Cap: JP¥2.3t

Engages in the paints and fine chemicals businesses.

Hikari Tsushin

Market Cap: JP¥1.9t

Engages in the provision and sale of gas and electricity in Japan and internationally.

Japan Airlines

Market Cap: JP¥1.3t

Provides scheduled and non-scheduled air transport services in Japan, Asia, Oceania, the Americas, and internationally.

Makita

Market Cap: JP¥1.2t

Engages in the manufacture and sale of electric power tools, pneumatic tools, and gardening and household equipment in Japan, Europe, North America, Asia, Central and South America, Oceania, The Middle East, and Africa.

Otsuka

Market Cap: JP¥1.1t

Operates as an information technology (IT) platformer in Japan.

YASKAWA Electric

Market Cap: JP¥1.0t

Engages in motion control, robotics, and system engineering businesses worldwide.

Sanwa Holdings

Market Cap: JP¥855.8b

Through its subsidiaries, manufactures and sells construction materials for commercial and residential buildings in Japan, North America, Europe, and Asia.

Azbil

Market Cap: JP¥749.6b

Provides automation products and services worldwide.

Kobe Steel

Market Cap: JP¥748.7b

Engages in the materials, machinery, and electric power businesses worldwide.

Hoshizaki

Market Cap: JP¥740.7b

Researches, develops, manufactures, and sells commercial kitchen appliances and equipment worldwide.

Iyogin HoldingsInc

Market Cap: JP¥697.1b

Provides banking and financial services.

Iida Group Holdings

Market Cap: JP¥654.4b

Engages in the purchase, planning, design, construction, sale, and after-sales service of detached houses and house condominiums in Japan.

Kyushu Railway

Market Cap: JP¥610.0b

Engages in the railway business in Japan.

AlsokLtd

Market Cap: JP¥570.0b

Engages in the electronic, stationed, and transportation security services in Japan and internationally.

BIPROGY

Market Cap: JP¥568.4b

Provides cloud computing and outsourcing services in Japan.

Rohto PharmaceuticalLtd

Market Cap: JP¥551.4b

Manufactures and markets pharmaceutical products, cosmetics, and functional foods worldwide.

Invincible Investment

Market Cap: JP¥533.0b

INV was established in January 2002 in accordance with the Investment Trust and Investment Corporation Act (Act No.

Santen Pharmaceutical

Market Cap: JP¥512.2b

Engages in the research and development, manufacturing, and marketing of pharmaceuticals and medical devices in Japan, China, Asia, Europe, the Middle East, Africa, and internationally.

Japan Airport Terminal

Market Cap: JP¥480.6b

Primarily engages in the management of passenger terminal buildings in Japan.

Toho Gas

Market Cap: JP¥452.7b

Engages in the gas, LPG and other energy, electric power, and other businesses in Japan and internationally.

Resorttrust

Market Cap: JP¥403.9b

Engages in the hotel and restaurant business in Japan.

Mitsubishi Logistics

Market Cap: JP¥384.9b

Provides logistics services in Japan and internationally.

Miura

Market Cap: JP¥365.1b

Produces and sells boilers in Japan and internationally.

Mabuchi Motor

Market Cap: JP¥332.0b

Mabuchi Motor Co., Ltd. manufacture and sale of small motors in Japan, Europe, and North America, and internationally.

Hisamitsu Pharmaceutical

Market Cap: JP¥295.9b

Manufactures and sells pharmaceuticals in Japan.

Seiko Group

Market Cap: JP¥295.1b

Engages in watches, devices solutions, systems solutions, apparels, clocks, fashion accessories, system clocks and other businesses in Japan and internationally.

MIRAIT ONE

Market Cap: JP¥280.8b

Engages in the telecommunications construction, electrical construction, civil engineering work, and architectural and construction businesses in Japan.

Meidensha

Market Cap: JP¥273.5b

Engages in the power infrastructure; public, industrial, and commercial sector; mobility and electrical components; field service engineering; and real estate businesses in Japan, Asia, and internationally.

Suruga Bank

Market Cap: JP¥271.8b

Provides various banking and financial products and services to individuals and corporate customers in Japan.

Sumitomo Riko

Market Cap: JP¥269.0b

Engages in the manufacture and sale of automotive parts.

Nippon Shokubai

Market Cap: JP¥268.9b

Engages in the manufacture and sale of chemical products in Japan and internationally.

Bic Camera

Market Cap: JP¥268.7b

Engages in the manufacture and sale of audiovisual products in Japan.

TOMY Company

Market Cap: JP¥265.3b

Plans, together with its subsidiaries, plans, manufactures, and sells toys and toy-related products in Japan, Asia, Europe, the Americas, and Oceania.

Inaba Denki SangyoLtd

Market Cap: JP¥264.1b

Sells electrical equipment and materials, industrial automation, and proprietary products in Japan and internationally.