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

Daiichi Sankyo Company

Market Cap: JP¥5.9t

Manufactures and sells pharmaceutical products in Japan, North America, Europe, and internationally.

DENSO

Market Cap: JP¥5.3t

Engages in the manufacture and sale of automotive parts in Japan, rest of Asia, North America, Europe, and internationally.

Sumitomo

Market Cap: JP¥4.5t

Engages in general trading business.

Dai-ichi Life Holdings

Market Cap: JP¥3.9t

Through its subsidiaries, provides insurance products in Japan, the United States, and internationally.

Murata Manufacturing

Market Cap: JP¥3.9t

Designs, manufactures, and sells ceramic-based passive electronic components and solutions in Japan and internationally.

Nidec

Market Cap: JP¥3.0t

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

TDK

Market Cap: JP¥3.0t

Engages in manufacture and sale of electronic components in Japan, Europe, China, Asia, the Americas, and internationally.

Inpex

Market Cap: JP¥2.4t

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

Sumitomo Electric Industries

Market Cap: JP¥2.4t

Manufactures and sells electric wires and cables worldwide.

Nitto Denko

Market Cap: JP¥1.8t

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

T&D Holdings

Market Cap: JP¥1.6t

Through its subsidiaries, provides insurance products and services primarily in Japan.

SCREEN Holdings

Market Cap: JP¥1.1t

Develops, manufactures, sells, and maintains semiconductor production equipment in Japan.

TOPPAN Holdings

Market Cap: JP¥1.1t

Develops solutions based on its printing technologies in Japan and internationally.

Daito Trust ConstructionLtd

Market Cap: JP¥1.0t

Designs, constructs, and rents apartments and condominiums in Japan.

Sanwa Holdings

Market Cap: JP¥995.1b

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

Fuji Electric

Market Cap: JP¥952.0b

Develops power semiconductors and electronics solutions in Japan and internationally.

Kinden

Market Cap: JP¥873.6b

Provides integrated electrical and facility engineering services in Japan.

Nippon Television Holdings

Market Cap: JP¥760.6b

Operates as a media and content company in Japan.

Sega Sammy Holdings

Market Cap: JP¥695.7b

Through its subsidiaries, engages in the entertainment contents business.

Azbil

Market Cap: JP¥689.5b

Provides automation products and services worldwide.

Iida Group Holdings

Market Cap: JP¥575.3b

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

Santen Pharmaceutical

Market Cap: JP¥559.6b

Engages in the research and development, manufacture, and marketing of pharmaceuticals and medical devices in Japan and internationally.

Hirose ElectricLtd

Market Cap: JP¥553.2b

Manufactures and sells connectors in Japan and internationally.

Kewpie

Market Cap: JP¥546.3b

Through its subsidiaries, manufactures and sales food products in Japan and internationally.

NGK Insulators

Market Cap: JP¥522.2b

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

MISUMI Group

Market Cap: JP¥515.9b

Engages in the factory automation (FA) and die component businesses in Japan, China, rest of Asia, the Americas, Europe, and internationally.

Invincible Investment

Market Cap: JP¥472.6b

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

Takasago Thermal Engineering

Market Cap: JP¥459.8b

Designs, constructs, manufactures, sells, and installs heating, ventilation, and air conditioning (HVAC) systems in Japan and internationally.

MODEC

Market Cap: JP¥457.7b

A general contractor, engages in the engineering, procurement, construction, and installation of floating production systems for the offshore oil and gas production industries in Brazil, Guyana, Senegal, Ghana, Ivory Coast, Mexico, and internationally.

Stanley Electric

Market Cap: JP¥425.4b

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

Sankyu

Market Cap: JP¥411.0b

Provides logistics services in Japan and internationally.

Organo

Market Cap: JP¥407.3b

Operates as a water treatment engineering company in Japan, Taiwan, China, Southeast Asia, and internationally.

Taiheiyo Cement

Market Cap: JP¥404.2b

Engages in the cement, mineral resources, environmental, construction materials, and other businesses in Japan and internationally.

Lion

Market Cap: JP¥402.6b

Manufactures and sells consumer and industrial products in Japan and internationally.

EXEO Group

Market Cap: JP¥381.0b

Engages in telecommunications, civil engineering, construction, electric equipment, system solutions, and renewable energy business in Japan.

Tokyo Seimitsu

Market Cap: JP¥376.1b

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