Japanese Too Big To Fail

MS&AD Insurance Group Holdings

Market Cap: JP¥5.1t

An insurance holding company, engages in the provision of insurance and financial services worldwide.

Sompo Holdings

Market Cap: JP¥4.3t

Provides property and casualty insurance services in Japan and internationally.

Inpex

Market Cap: JP¥3.8t

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

Astellas Pharma

Market Cap: JP¥3.4t

Manufactures, markets, and imports and exports pharmaceuticals in Japan and internationally.

Sumitomo Mitsui Trust Group

Market Cap: JP¥3.1t

Operates as a trust bank in Japan and internationally.

Kao

Market Cap: JP¥3.0t

Develops and sells hygiene living care, health beauty care, life care, cosmetics, and chemical products.

Kajima

Market Cap: JP¥2.6t

Engages in civil engineering, building construction, real estate development, architectural and civil design, and other businesses.

Shionogi

Market Cap: JP¥2.3t

Engages in the research, development, manufacture, and distribution of pharmaceuticals, diagnostic reagents, and medical devices in Japan and internationally.

Nippon Yusen Kabushiki Kaisha

Market Cap: JP¥2.1t

Provides logistics services in Japan, North America, Asia, and internationally.

Osaka Gas

Market Cap: JP¥2.0t

Provides gas, electricity, and other energy products and services in Japan and internationally.

Asahi Kasei

Market Cap: JP¥1.7t

Engages in material, homes, healthcare businesses.

Isuzu Motors

Market Cap: JP¥1.6t

Manufactures and sells commercial vehicles, light commercial vehicles, and diesel engines and components worldwide.

Suntory Beverage & Food

Market Cap: JP¥1.5t

Engages in manufacture and sale of alcoholic and non-alcoholic beverages, and foods in Japan, Asia-Pacific, Europe, and the Americas.

Idemitsu KosanLtd

Market Cap: JP¥1.4t

Engages in the petroleum, basic chemicals, functional materials, power and renewable energy, and resources businesses in Japan, rest of Asia, Oceania, North America, and internationally.

Kawasaki Kisen Kaisha

Market Cap: JP¥1.3t

Engages in the provision of marine, land, and air transportation services in Japan, the United States, Europe, Asia, and internationally.

Otsuka

Market Cap: JP¥1.1t

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

Hitachi Construction Machinery

Market Cap: JP¥981.4b

Manufactures and sells construction machineries in Japan, the Americas, Europe, Russia, CIS, Africa, the Middle East, Asia, Oceania, and China.

Ono Pharmaceutical

Market Cap: JP¥958.4b

Produces, purchases, and sells pharmaceuticals and diagnostic reagents 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.

USS

Market Cap: JP¥794.9b

Operates and manages used vehicle auction sites in Japan.

Yakult HonshaLtd

Market Cap: JP¥784.1b

Manufactures and sells food and beverage products in Japan, the Americas, Asia, Oceania, and Europe.

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.

Tosoh

Market Cap: JP¥714.7b

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

Nissan Chemical

Market Cap: JP¥694.5b

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

Mitsui Chemicals

Market Cap: JP¥671.4b

Engages in the mobility, life and health care, basic and green materials, ICT, and other businesses worldwide.

NH Foods

Market Cap: JP¥654.6b

Engages in manufacturing and selling ham, sausage, processed food, meat, and dairy product in Japan and internationally.

Cosmo Energy Holdings

Market Cap: JP¥637.1b

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

Seiko Epson

Market Cap: JP¥619.4b

Develops, manufactures, sells, and provides services for products in the printing solutions, visual communications, manufacturing-related and wearables, and other businesses.

Persol HoldingsLtd

Market Cap: JP¥616.3b

Provides human resource services under the PERSOL brand worldwide.

Yamato Kogyo

Market Cap: JP¥592.7b

Through its subsidiaries, engages in the manufacture and sale of steel products in Japan and internationally.

AlsokLtd

Market Cap: JP¥570.0b

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

MediPal Holdings

Market Cap: JP¥543.4b

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

Rinnai

Market Cap: JP¥527.1b

Manufactures and sells thermal equipment in Japan, the United States, Australia, China, South Korea, and Indonesia.

Santen Pharmaceutical

Market Cap: JP¥517.3b

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.