Global Potentially Undervalued Companies

Spectrum Pharmaceuticals

Market Cap: €209.9m

Spectrum Pharmaceuticals, Inc., a biopharmaceutical company, develops and commercializes oncology drug products.

Aeon (M) Bhd

Market Cap: RM 1.5b

Operates and manages a retail chain of departmental stores and supermarkets in Malaysia.

CapitaLand Malaysia Trust

Market Cap: RM 2.1b

CapitaLand Malaysia Trust (CLMT) is a real estate investment trust (REIT) listed on the Main Market of Bursa Malaysia Securities Berhad since 16 July 2010.

Migros Ticaret

Market Cap: ₺105.7b

Engages in the retail sale of food and beverages, consumer, and durables goods in Turkey.

Fauji Cement

Market Cap: PK₨95.6b

Engages in the manufacturing and selling of various types of cement in Pakistan.

Tokai Carbon

Market Cap: JP¥196.1b

Manufactures and sells carbon-related products and services in Japan.

Rohto PharmaceuticalLtd

Market Cap: JP¥533.6b

Manufactures and markets pharmaceutical products, cosmetics, and functional foods worldwide.

Converge Information and Communications Technology Solutions

Market Cap: ₱95.9b

Converge Information and Communications Technology Solutions, Inc.

Nippon Paint Holdings

Market Cap: JP¥2.3t

Engages in the paints and fine chemicals businesses.

Konica Minolta

Market Cap: JP¥245.8b

Engages in digital workplace, professional print, healthcare, and industry business in Japan, China, other Asian countries, the United States, Europe, and internationally.

Security Bank

Market Cap: ₱51.5b

Provides banking and financial products and services to wholesale and retail clients in the Philippines.

Lion

Market Cap: JP¥451.2b

Manufactures and sells consumer and industrial products in Japan and internationally.

Japan Hotel REIT Investment

Market Cap: JP¥396.5b

Japan Hotel REIT Investment Corporation (JHR) was established under the Act on Investment Trusts and Investment Corporations (Act No.

Future

Market Cap: JP¥142.0b

Provides IT consulting and services primarily in Japan.

NetEase

Market Cap: US$580.7b

Engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally.

Oceania Healthcare

Market Cap: AU$561.3m

Owns and operates retirement villages and care centres in New Zealand.

Indofood Sukses Makmur

Market Cap: Rp52.5t

Operates as a food solutions company in Indonesia, the Middle East, Africa, the rest of Asia, and internationally.

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia

Market Cap: Rp302.1t

Provides information and communications technology, and telecommunications network services worldwide.

Brunswick

Market Cap: US$4.6b

Designs, manufactures, and markets recreation products in the United States, Europe, the Asia-Pacific, Canada, and internationally.

q.beyond

Market Cap: €84.3m

Engages in the cloud, applications, artificial intelligence (AI), and security business in Germany and internationally.

Globe Life

Market Cap: US$10.8b

Through its subsidiaries, provides various life and supplemental health insurance products to lower middle- and middle-income families in the United States.

Cooper-Standard Holdings

Market Cap: €512.0m

Through its subsidiary, manufactures sealing systems and fluid handling systems in the North America, Europe, the Asia Pacific, and the South America.

Capital Bancorp

Market Cap: US$464.9m

Operates as the bank holding company for Capital Bank, N.A., provides various banking products and services to businesses, not-for-profit associations, and entrepreneurs in the United States.

Regis Resources

Market Cap: US$4.8b

Engages in the exploration, evaluation, and development of gold projects in Australia.

Man Wah Holdings

Market Cap: €17.6b

An investment holding company, engages in the manufacture and distribution of sofas and ancillary products in the People's Republic of China, Europe, Vietnam, Mexico, and internationally.

Janus International Group

Market Cap: US$758.2m

Manufactures and supplies turn-key self-storage, commercial, and industrial building solutions in North America and internationally.

FirstSun Capital Bancorp

Market Cap: US$970.3m

Operates as the bank holding company for Sunflower Bank, National Association that provides commercial and consumer banking and financial services to small and medium-sized companies in the United States.

Indofood Sukses Makmur

Market Cap: €52.5t

Operates as a food solutions company in Indonesia, the Middle East, Africa, the rest of Asia, and internationally.

Kuaishou Technology

Market Cap: €240.9b

An investment holding company, provides live streaming, online marketing, and other services in the People’s Republic of China.

Acrow

Market Cap: €269.5m

Provides smart integrated construction systems across formwork, industrial services, and commercial scaffolding in Australia.

Northam Platinum Holdings

Market Cap: €126.3b

Through its subsidiary, Northam Platinum Limited, engages in the production and sale of platinum group metals.

4imprint Group

Market Cap: UK£960.4m

Operates as a direct marketer of promotional products in North America, the United Kingdom, and Ireland.

Howden Joinery Group

Market Cap: UK£4.3b

Supplies various kitchen, joinery, and hardware products in the United Kingdom, France, Belgium, and the Republic of Ireland.

First Citizens BancShares

Market Cap: US$21.0b

Operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals in the United States and internationally.

Andritz

Market Cap: €6.0b

Engages in the provision of industrial machinery, equipment, and services in Europe, North America, South America, China, Asia, Africa, Australia, and internationally.

74Software

Market Cap: €897.3m

Operates as a software company in France.