Japanese Energy Potentially Undervalued Companies

ENEOS Holdings

Market Cap: JP¥3.4t

Through its subsidiaries, operates in the energy petroleum and natural gas development, functional material, electricity and city gas, and renewable energy businesses in Japan, Singapore, China, and internationally.

Idemitsu KosanLtd

Market Cap: JP¥1.6t

Engages in the fuel oil, basic chemicals, functional materials, power and renewable energy, and resources businesses in Japan, Singapore, Asia, Oceania, North America, and internationally.

Cosmo Energy Holdings

Market Cap: JP¥648.3b

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

MODEC

Market Cap: JP¥676.5b

Operates as engineering, procurement, construction and installation (EPCI) general contractor of floating production systems in Brazil, Guyana, Senegal, Cote d' Ivoire, Ghana, Mexico, and internationally.

Nippon Seiro

Market Cap: JP¥4.8b

Manufactures and sells petroleum waxes, physically and chemically converted wax products, and fuel oil in Japan, rest of Asia, North America, and internationally.

Itochu EnexLtd

Market Cap: JP¥242.1b

Engages in the sale of petroleum products and liquefied petroleum gas (LPG), electricity, heat supply, vehicle sales in Japan and internationally.

Fuji United Holdings CompanyLtd

Market Cap: JP¥8.3b

Fuji United Holdings Company,Ltd. purchases and sells petroleum products in Japan.

Japan Petroleum Exploration

Market Cap: JP¥464.6b

Explores, develops, produces, and sells oil, natural gas, and other energy resources in Japan, Europe, North America, and the Middle East.

Japan Oil Transportation

Market Cap: JP¥16.7b

Primarily engages in the transportation of liquefied natural gas, petrochemical products, other high-pressure gases, and other related products in Japan and internationally.

Iwatani

Market Cap: JP¥511.0b

Engages in supplying gases and energy in Japan, China, Taiwan, South Korea, Singapore, Thailand, Malaysia, Indonesia, Vietnam, the United States, and Australia.