Japanese Undervalued Dividend Payers

Tokio Marine Holdings

Market Cap: JP¥11.5t

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

Japan Tobacco

Market Cap: JP¥10.9t

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

Nintendo

Market Cap: JP¥10.1t

Develops, manufactures, and sells home entertainment products in Japan, the Americas, Europe, and internationally.

MS&AD Insurance Group Holdings

Market Cap: JP¥6.2t

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

DENSO

Market Cap: JP¥5.8t

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

Daiichi Sankyo Company

Market Cap: JP¥5.5t

Manufactures and sells pharmaceutical products in Japan, the United States, Europe, and internationally.

Dai-ichi Life Holdings

Market Cap: JP¥5.3t

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

Astellas Pharma

Market Cap: JP¥4.5t

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

Inpex

Market Cap: JP¥4.3t

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

Canon

Market Cap: JP¥4.3t

Manufactures and sells office multifunction devices (MFDs), laser and inkjet printers, cameras, medical equipment, and lithography equipment in Japan, the Americas, Europe, and Asia and Oceania.

Sumitomo Mitsui Trust Group

Market Cap: JP¥3.9t

Operates as a trust bank in Japan and internationally.

FUJIFILM Holdings

Market Cap: JP¥3.7t

Provides products and services in the fields of healthcare, electronics, business innovation, and imaging in Japan, the Americas, Europe, Asia, and internationally.

Kao

Market Cap: JP¥3.0t

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

Asahi Kasei

Market Cap: JP¥2.4t

Engages in material, homes, healthcare businesses.

Aisin

Market Cap: JP¥2.1t

Manufactures and sells automotive parts, lifestyle, and energy and wellness related products in Japan.

Isuzu Motors

Market Cap: JP¥1.9t

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

Suntory Beverage & Food

Market Cap: JP¥1.6t

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

Niterra

Market Cap: JP¥1.3t

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

AGC

Market Cap: JP¥1.3t

Manufactures and sells architectural glass, electronics, chemicals, automotive, and ceramics worldwide.

Nissin Foods HoldingsLtd

Market Cap: JP¥938.1b

Manufactures and sells instant foods in Japan, the United States, and internationally.

Kobe Steel

Market Cap: JP¥897.0b

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

Sanwa Holdings

Market Cap: JP¥798.0b

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

Cosmo Energy Holdings

Market Cap: JP¥729.3b

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

Toyo Tire

Market Cap: JP¥699.3b

Manufactures and sells tires in Japan, North America, and internationally.

Mitsubishi Gas Chemical Company

Market Cap: JP¥653.6b

Manufactures and sells basic and fine chemicals, and functional materials in Japan.

Persol HoldingsLtd

Market Cap: JP¥604.8b

Provides human resource services under the PERSOL brand worldwide.

MediPal Holdings

Market Cap: JP¥598.7b

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

AlsokLtd

Market Cap: JP¥570.8b

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

Santen Pharmaceutical

Market Cap: JP¥566.5b

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.

Nichirei

Market Cap: JP¥507.9b

Through its subsidiaries, engages in the processed food, logistics, marine products, meat and poultry products, bioscience, and real estate businesses in Japan and internationally.

Adeka

Market Cap: JP¥488.2b

Engages in chemicals, food products, and life science businesses.

Sankyu

Market Cap: JP¥479.5b

Provides logistics services in Japan and internationally.

Sankyo

Market Cap: JP¥459.1b

Manufactures and sells game machines and ball bearing supply systems in Japan.

Nissui

Market Cap: JP¥457.3b

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

ZENKOKU HOSHOLtd

Market Cap: JP¥417.8b

Engages in the credit guarantee business in Japan.

Daicel

Market Cap: JP¥407.5b

Engages in the materials, medical/healthcare, smart, safety, and engineering plastics businesses in Japan and internationally.