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

Sony Group

Market Cap: JP¥20.9t

Designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets in Japan, the United States, Europe, China, the Asia-Pacific, and internationally.

Tokyo Electron

Market Cap: JP¥8.9t

Develops, manufactures, and sells semiconductor and flat panel display (FPD) production equipment in Japan, Europe, North America, Taiwan, China, South Korea, Southeast Asia, and internationally.

Mitsubishi Electric

Market Cap: JP¥5.4t

Develops, manufactures, distributes, and sells electrical and electronic equipment worldwide.

Sompo Holdings

Market Cap: JP¥4.3t

Provides property and casualty (P&C) insurance services in Japan and internationally.

Central Japan Railway

Market Cap: JP¥3.0t

Engages in the railway and related businesses in Japan.

Inpex

Market Cap: JP¥2.2t

Engages in the research, exploration, development, production, and sale of oil, natural gas, and other mineral resources in Japan and internationally.

Nitto Denko

Market Cap: JP¥1.8t

Primarily engages in the adhesive tapes business in Japan, the Americas, Europe, Asia, and Oceania.

Sumitomo Electric Industries

Market Cap: JP¥1.6t

Manufactures and sells electric wires and cables worldwide.

Eisai

Market Cap: JP¥1.1t

Engages in the research and development, manufacture, sale, and import and export of pharmaceuticals in Japan.

Lasertec

Market Cap: JP¥1.1t

Engages in the designing, manufacturing, and sale of inspection and measurement equipment in Japan and internationally.

Toyo Suisan Kaisha

Market Cap: JP¥906.7b

Produces and sells food products in Japan and internationally.

Fuji Electric

Market Cap: JP¥848.7b

Develops power semiconductors and electronics solutions in Japan and internationally.

Tosoh

Market Cap: JP¥625.1b

Manufactures and sells basic chemicals, petrochemicals, specialty products, and fine chemicals worldwide.

Azbil

Market Cap: JP¥605.8b

Provides automation products and services worldwide.

MISUMI Group

Market Cap: JP¥576.5b

Engages in the factory automation and die components businesses worldwide.

KandenkoLtd

Market Cap: JP¥573.5b

Operates as a general infrastructure company in Japan.

Nissan Chemical

Market Cap: JP¥565.2b

Engages in the chemicals, performance materials, agricultural chemicals, and pharmaceuticals businesses in Japan and internationally.

Kokusai Electric

Market Cap: JP¥530.7b

Engages in the development, manufacture, sale, repair, and maintenance of semiconductor manufacturing equipment worldwide.

Hirose ElectricLtd

Market Cap: JP¥514.8b

Manufactures and sells connectors in Japan and internationally.

Kurita Water Industries

Market Cap: JP¥514.3b

Engages in the provision of various water treatment solutions in North America, South America, Europe, and internationally.

MediPal Holdings

Market Cap: JP¥493.6b

Medipal Holdings Corporation engages in the prescription pharmaceutical wholesale business in Japan.

NGK Insulators

Market Cap: JP¥491.5b

Manufactures and sells electric power related equipment in Japan, North America, Europe, Asia, and others.

Cosmo Energy Holdings

Market Cap: JP¥476.4b

Through its subsidiaries, engages in the oil business in Japan and internationally.

J. Front Retailing

Market Cap: JP¥447.7b

Operates department stores.

Invincible Investment

Market Cap: JP¥440.4b

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

Rinnai

Market Cap: JP¥434.2b

Develops, manufactures, and sells heating products in Japan, the United States, Australia, China, South Korea, and Indonesia.

Stanley Electric

Market Cap: JP¥393.4b

Stanley Electric Co., Ltd., together with its subsidiaries, manufacture, sells, and import/export of automotive and other light bulbs in Japan and internationally.

Japan Hotel REIT Investment

Market Cap: JP¥355.3b

Japan Hotel REIT Investment Corporation (JHR) was established under the Act on Investment Trusts and Investment Corporations (Act No.

Suzuken

Market Cap: JP¥353.1b

Primarily engages in the distribution of pharmaceuticals in Japan and internationally.

Miura

Market Cap: JP¥340.6b

Produces and sells boilers in Japan and internationally.

Takashimaya Company

Market Cap: JP¥331.6b

Engages in the department stores, corporate, and mail order business in Japan.

Sankyu

Market Cap: JP¥321.5b

Provides logistics services in Japan and internationally.

MaruwaLtd

Market Cap: JP¥313.9b

Produces and sells ceramics and electronic parts in Japan and internationally.

Tokyo Seimitsu

Market Cap: JP¥306.4b

Manufactures and sells semiconductor production equipment (SPE) and measuring instruments in Japan.

Iwatani

Market Cap: JP¥303.0b

Engages in supplying gases and energy in Japan, China, Taiwan, South Korea, Singapore, Thailand, Malaysia, Indonesia, Vietnam, the United States, and Australia.

Nichias

Market Cap: JP¥302.2b

Manufactures and sells thermal insulation materials primarily in Japan.