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

Osaka Soda

Market Cap: JP¥240.5b

Manufactures and sells basic and functional products in Asia, Europe, North America, and internationally.

Shibaura Mechatronics

Market Cap: JP¥230.3b

Develops, manufactures, and sells manufacturing equipment for flat panel displays (FPDs), semiconductors, and electronic components in Japan, Northeastern Asia, and internationally.

CKD

Market Cap: JP¥212.8b

Develops, manufactures, sells, and exports automation machinery and components in Japan and Internationally.

FP

Market Cap: JP¥211.7b

Manufactures and markets polystyrene and compound resin disposable food containers in Japan.

Fuso ChemicalLtd

Market Cap: JP¥210.1b

Manufactures and sells life science and electronic material products.

Itochu EnexLtd

Market Cap: JP¥205.6b

Engages in the sale of petroleum products and liquefied petroleum gas (LPG), electricity, heat supply, vehicle sales in Japan and internationally.

TOA

Market Cap: JP¥196.9b

Provides construction and engineering services in Japan.

Systena

Market Cap: JP¥183.7b

Engages in the solution and framework design, IT service, business solution, and cloud businesses in Japan.

Fujimi

Market Cap: JP¥175.4b

Manufactures and sells synthetic precision abrasives in Japan, North America, Asia, and Europe.

Yurtec

Market Cap: JP¥173.8b

Operates as a facility engineering company in Japan and internationally.

Kissei Pharmaceutical

Market Cap: JP¥171.4b

Researches, develops, manufactures, and sells pharmaceutical products primarily in Japan.

Star Asia Investment

Market Cap: JP¥169.5b

Star Asia Investment Corporation (SAR) was established as a diversified real estate investment trust on December 1, 2015, under the Act on Investment Trusts and Investment Corporations (Act No.

Kaga ElectronicsLtd

Market Cap: JP¥166.6b

Sells electronics parts, semiconductors, PCs, and peripherals in Japan, North America, Europe, and Asia.

Toyo Construction

Market Cap: JP¥163.5b

Engages in the marine and civil engineering, and building construction activities in Japan and internationally.

F.C.C

Market Cap: JP¥159.6b

Manufactures and sells clutches for automobiles, motorcycles, and general-purpose machinery in Japan and internationally.

Valor Holdings

Market Cap: JP¥158.0b

Operates supermarkets and home centers in Japan.

Okaya

Market Cap: JP¥156.4b

Engages in the selling, exporting, and importing of iron and steel, special steel, non-ferrous metals in Japan and internationally.

Fuji Seal International

Market Cap: JP¥156.3b

Engages in planning, proposal, development, manufacturing, and sales of packaging systems.

Belc

Market Cap: JP¥154.1b

Manages a chain of food supermarkets in Japan.

Open Up Group

Market Cap: JP¥151.8b

Engages in the engineer staffing businesses for manufacturers, general contractors, and IT companies in Japan and internationally.

Totetsu Kogyo

Market Cap: JP¥149.8b

Engages in the railway track maintenance, civil engineering, architectural, and environmental businesses in Japan.

Bunka Shutter

Market Cap: JP¥148.3b

Manufactures and sells building materials in Japan, Australia, and internationally.

Shin Nippon Air Technologies

Market Cap: JP¥143.0b

Provides engineering systems to control air, water, heat, and other areas of air conditioning, electrical, and sanitary facilities in Japan and internationally.

Ai Holdings

Market Cap: JP¥142.8b

Provides security and peripheral computer equipment, measuring equipment, business communication systems, and card and other office equipment.

Raito Kogyo

Market Cap: JP¥141.6b

Engages in the civil engineering works business in Japan, North America, and internationally.

Totech

Market Cap: JP¥141.4b

Engages in the sale of air conditioning equipment in Japan.

Sanyo Denki

Market Cap: JP¥137.6b

Engages in cooling systems, power systems, servo systems, electrical equipment sales, and electrical works contracting businesses in Japan and internationally.

TOKAI Holdings

Market Cap: JP¥136.1b

Engages in energy, information and communications, and related businesses in Japan and internationally.

transcosmos

Market Cap: JP¥136.0b

Provides business outsourcing services in Japan and internationally.

Nittetsu Mining

Market Cap: JP¥129.6b

Engages in mining activities in Japan and internationally.

NS United Kaiun Kaisha

Market Cap: JP¥128.2b

Engages in the marine transportation services and related business in Japan and internationally.

Hosiden

Market Cap: JP¥127.6b

Develops, manufactures, and sells electronic components in Japan and internationally.

TOCALOLtd

Market Cap: JP¥126.2b

Develops surface modifying technologies in Japan and internationally.

KanamotoLtd

Market Cap: JP¥124.9b

Engages in the construction equipment rental business in Japan and internationally.

Sumitomo Osaka Cement

Market Cap: JP¥120.1b

Engages in the cement business in Japan and internationally.

Itoki

Market Cap: JP¥118.9b

Plans, designs, manufactures, and sells office furniture in Japan and internationally.