Japanese Undervalued Dividend Payers

Tokio Marine Holdings

Market Cap: JP¥11.6t

Engages in the non-life and life insurance, and financial and general businesses in Japan and internationally.

Mizuho Financial Group

Market Cap: JP¥11.0t

Engages in banking, trust banking, securities, and other businesses related to financial services in Japan, the Americas, Europe, Asia/Oceania, and internationally.

Japan Tobacco

Market Cap: JP¥8.2t

A tobacco company, manufactures and sells tobacco products, pharmaceuticals, and processed foods in Japan and internationally.

Shin-Etsu Chemical

Market Cap: JP¥8.1t

Provides infrastructure, electronics, and functional materials in Japan.

Daiichi Sankyo Company

Market Cap: JP¥6.6t

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

MS&AD Insurance Group Holdings

Market Cap: JP¥5.0t

An insurance holding company, provides insurance and financial services worldwide.

Sumitomo

Market Cap: JP¥4.7t

Engages in general trading business.

Dai-ichi Life Holdings

Market Cap: JP¥4.4t

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

Komatsu

Market Cap: JP¥4.3t

Manufactures and sells construction, mining, and utility equipment in Japan, the Americas, Europe, China, Rest of Asia, Oceania, the Middle East, Africa, and CIS countries.

Murata Manufacturing

Market Cap: JP¥4.2t

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

ORIX

Market Cap: JP¥3.9t

Provides financial services in Japan, the United States, Asia, Europe, and Australasia.

Panasonic Holdings

Market Cap: JP¥3.5t

Research, develops, manufactures, sells, and services various electrical and electronic products worldwide.

Resona Holdings

Market Cap: JP¥3.1t

Through its subsidiaries, provides retail and commercial banking products and services in Japan and internationally.

Sumitomo Mitsui Trust Group

Market Cap: JP¥2.8t

Operates as a trust bank in Japan and internationally.

Inpex

Market Cap: JP¥2.5t

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

Shionogi

Market Cap: JP¥2.2t

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

Aisin

Market Cap: JP¥1.6t

Manufactures and sells automotive parts, and energy and lifestyle related products.

Daiwa Securities Group

Market Cap: JP¥1.5t

Operates in the financial and capital markets in Japan and internationally.

Asahi Kasei

Market Cap: JP¥1.5t

Manufactures and sells chemicals.

Suntory Beverage & Food

Market Cap: JP¥1.4t

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

Kawasaki Kisen Kaisha

Market Cap: JP¥1.4t

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

SCREEN Holdings

Market Cap: JP¥1.1t

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

Niterra

Market Cap: JP¥973.7b

Manufactures and sells spark plugs and related products for internal-combustion engines and technical ceramics in Japan and internationally.

Chiba Bank

Market Cap: JP¥972.0b

Provides banking products and services in Japan and internationally.

Toyo Suisan Kaisha

Market Cap: JP¥962.0b

Produces and sells food products in Japan and internationally.

MINEBEA MITSUMI

Market Cap: JP¥961.8b

Manufactures and supplies machined components, electronic devices and components, automotive, and industrial machinery and home security business in Japan and internationally.

Dentsu Group

Market Cap: JP¥788.3b

Operates in the advertising business in Japan, the Americas, Europe, the Middle East and Africa, and the Asia Pacific.

Nissin Foods HoldingsLtd

Market Cap: JP¥785.9b

Engages in the manufacture and sale of instant foods in Japan and internationally.

Fukuoka Financial Group

Market Cap: JP¥780.5b

Provides various banking services to individual and corporate customers.

Mebuki Financial GroupInc

Market Cap: JP¥768.3b

Provides banking products and financial services in Japan and internationally.

Sojitz

Market Cap: JP¥754.6b

Operates as a general trading company that engages in various business activities worldwide.

Tosoh

Market Cap: JP¥736.6b

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

Hoshizaki

Market Cap: JP¥720.8b

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

Yakult HonshaLtd

Market Cap: JP¥699.1b

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

Acom

Market Cap: JP¥697.1b

Offers loans, credit cards, and loan guarantee services in Japan and internationally.

Kobe Steel

Market Cap: JP¥653.7b

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