Japanese Undervalued Dividend Payers

Mizuho Financial Group

Market Cap: JP¥14.1t

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

Tokio Marine Holdings

Market Cap: JP¥10.9t

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

Japan Tobacco

Market Cap: JP¥10.2t

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

Shin-Etsu Chemical

Market Cap: JP¥9.2t

Provides infrastructure, electronics, and functional materials in Japan.

Takeda Pharmaceutical

Market Cap: JP¥7.7t

Engages in the research, development, manufacture, marketing, and out-licensing of pharmaceutical products in Japan and internationally.

Daiichi Sankyo Company

Market Cap: JP¥6.4t

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

MS&AD Insurance Group Holdings

Market Cap: JP¥5.4t

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

ORIX

Market Cap: JP¥5.1t

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

Dai-ichi Life Holdings

Market Cap: JP¥4.7t

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

Komatsu

Market Cap: JP¥4.5t

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.

FUJIFILM Holdings

Market Cap: JP¥4.1t

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

Inpex

Market Cap: JP¥3.7t

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

Sumitomo Mitsui Trust Group

Market Cap: JP¥3.3t

Operates as a trust bank in Japan and internationally.

Kao

Market Cap: JP¥2.9t

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

Shionogi

Market Cap: JP¥2.4t

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

Obayashi

Market Cap: JP¥2.3t

Engages in the construction business in Japan, North America, Asia and internationally.

SBI Holdings

Market Cap: JP¥2.3t

Engages in the online securities and investment businesses in Japan and Saudi Arabia.

Aisin

Market Cap: JP¥2.1t

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

Asahi Kasei

Market Cap: JP¥1.9t

Engages in material, homes, healthcare businesses.

Isuzu Motors

Market Cap: JP¥1.7t

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

Suntory Beverage & Food

Market Cap: JP¥1.5t

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

Kawasaki Kisen Kaisha

Market Cap: JP¥1.4t

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

AGC

Market Cap: JP¥1.1t

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

Daito Trust ConstructionLtd

Market Cap: JP¥994.9b

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

Hitachi Construction Machinery

Market Cap: JP¥981.8b

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

Fukuoka Financial Group

Market Cap: JP¥955.4b

Provides various banking services to individual and corporate customers.

Sanwa Holdings

Market Cap: JP¥859.4b

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

Nissin Foods HoldingsLtd

Market Cap: JP¥833.2b

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

Kobe Steel

Market Cap: JP¥807.8b

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

Brother Industries

Market Cap: JP¥788.2b

Manufactures and sells communications and printing equipment in Japan, the United States, China, and internationally.

Ricoh Company

Market Cap: JP¥777.9b

Develops, manufactures, and sells digital products and services in Japan, the Americas, Europe, the Middle East, Africa, China, South East Asia, and Oceania.

Sumitomo Chemical Company

Market Cap: JP¥724.5b

Engages in Agro & Life Solutions, ICT & Mobility Solutions, Advanced Medical Solutions, Essential & Green Materials, and Sumitomo Pharma.

Yakult HonshaLtd

Market Cap: JP¥724.3b

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

Toyo Tire

Market Cap: JP¥681.4b

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

ABC-MartInc

Market Cap: JP¥670.1b

Engages in the retailing of shoes, clothing, and general merchandise products for men, women, and kids in Japan.

Persol HoldingsLtd

Market Cap: JP¥651.9b

Provides human resource services under the PERSOL brand worldwide.