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

Marubeni

Market Cap: JP¥6.3t

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

Central Japan Railway

Market Cap: JP¥3.9t

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.

Nidec

Market Cap: JP¥2.2t

Develops, manufactures, and sells motors, electronics and optical components, and other related products in Japan and internationally.

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.

Otsuka

Market Cap: JP¥1.2t

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

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.

YASKAWA Electric

Market Cap: JP¥984.5b

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

Sanwa Holdings

Market Cap: JP¥834.5b

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

Kobe Steel

Market Cap: JP¥749.3b

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

Azbil

Market Cap: JP¥738.5b

Provides automation products and services worldwide.

Hoshizaki

Market Cap: JP¥737.1b

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

Iyogin HoldingsInc

Market Cap: JP¥696.8b

Provides banking and financial services.

Iida Group Holdings

Market Cap: JP¥659.2b

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¥619.4b

Engages in the railway business in Japan.

BIPROGY

Market Cap: JP¥593.5b

Provides cloud computing and outsourcing services in Japan.

AlsokLtd

Market Cap: JP¥590.3b

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

Rohto PharmaceuticalLtd

Market Cap: JP¥578.5b

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

Santen Pharmaceutical

Market Cap: JP¥518.4b

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.

Invincible Investment

Market Cap: JP¥497.8b

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

Toho Gas

Market Cap: JP¥448.2b

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

Japan Airport Terminal

Market Cap: JP¥430.0b

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

Resorttrust

Market Cap: JP¥415.7b

Engages in the hotel and restaurant business in Japan.

Mitsubishi Logistics

Market Cap: JP¥392.6b

Provides logistics services in Japan and internationally.

Nissui

Market Cap: JP¥370.9b

Engages in marine, food products, fine chemicals, distribution, and marine-related/engineering businesses in Japan and internationally.

Toei Company

Market Cap: JP¥356.8b

A content company, engages in the production and distribution of movies, television (TV) shows, and other video products in Japan.

Miura

Market Cap: JP¥347.8b

Produces and sells boilers in Japan and internationally.

Mabuchi Motor

Market Cap: JP¥333.9b

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

Hisamitsu Pharmaceutical

Market Cap: JP¥298.1b

Manufactures and sells pharmaceuticals in Japan.

MIRAIT ONE

Market Cap: JP¥286.0b

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

Fuji

Market Cap: JP¥285.4b

Manufactures and sells electronic component mounting robots and machine tools in Japan.

Seiko Group

Market Cap: JP¥284.5b

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

Suruga Bank

Market Cap: JP¥271.4b

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

Bic Camera

Market Cap: JP¥270.9b

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

Sumitomo Riko

Market Cap: JP¥269.5b

Engages in the manufacture and sale of automotive parts.