Japanese Potentially Undervalued Companies

Rococo

Market Cap: JP¥3.8b

Provides IT solutions in Japan.

Tosoh

Market Cap: JP¥752.3b

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

PRAP Japan

Market Cap: JP¥4.8b

Operates as a public relations consultancy company in Japan.

Feed OneLtd

Market Cap: JP¥43.7b

Feed One Co.,Ltd. procures, produces, processes, markets, and sells meat, egg, seafood, and compound feed in Japan and internationally.

Sun-Life HoldingLtd

Market Cap: JP¥5.9b

Provides wedding ceremony, funeral, and nursing care services in Japan.

Superbag Company

Market Cap: JP¥4.0b

Manufactures and markets paper and plastic shopping bags in Japan and internationally.

Shizuki Electric

Market Cap: JP¥12.6b

Provides capacitors, and related equipment and facilities in Japan and internationally.

Rinko

Market Cap: JP¥4.8b

Provides harbor transportation services in Japan and internationally.

SeigakushaLtd

Market Cap: JP¥4.4b

Provides educational services in Japan.

NIPPON REIT Investment

Market Cap: JP¥173.1b

NIPPON REIT was established on September 8, 2010, by Polaris Investment Advisors K.K.

AMG HoldingsLtd

Market Cap: JP¥6.2b

Engages in the construction and real estate businesses primarily in Japan.

Internetworking and Broadband ConsultingLtd

Market Cap: JP¥5.6b

Internetworking and Broadband Consulting Co.,Ltd.

Xebio Holdings

Market Cap: JP¥48.6b

Through its subsidiaries, operates in the sporting goods business in Japan.

Renesas Electronics

Market Cap: JP¥3.1t

Researches, develops, designs, manufactures, sells, and services semiconductors in Japan, China, rest of Asia, Europe, North America, and internationally.

TODA KOGYO

Market Cap: JP¥7.9b

Manufactures and sells functional pigments and electronic materials in Japan and internationally.

Ahresty

Market Cap: JP¥22.8b

Engages in the aluminum die casting, aluminum, and proprietary products businesses in Japan, North America, and Asia.

Starts Proceed Investment

Market Cap: JP¥54.0b

Starts Proceed Investment Corporation (“SPI”) was established on May 2, 2005, with 150 million yen in capital (750 units) based on the Act on Investment Trusts and Investment Corporations (Act No.

Wakou Shokuhin

Market Cap: JP¥8.0b

Manufactures and sells soups and natural extracts in Japan and internationally.

YUKE'SLtd

Market Cap: JP¥3.9b

Engages in the development, creation, and sales of content for home gaming consoles, arcade gaming consoles, and mobile devices in Japan.

Kycom Holdings

Market Cap: JP¥3.4b

Engages in the planning, custom designing, development, testing, and maintenance of information systems.

Chubu Shiryo

Market Cap: JP¥51.8b

Manufactures and sells compound feed for livestock and fisheries in Japan.

Token

Market Cap: JP¥197.2b

Operates as a construction company in Japan.

Rising

Market Cap: JP¥1.4b

Engages in the sales, installation, maintenance, and consulting of energy-saving equipment for residential and industrial use in Japan.

Seiwa Chuo Holdings

Market Cap: JP¥6.3b

Engages in the wholesale of general steel products in Japan.

REBIBLELtd

Market Cap: JP¥2.1b

Develops and offers a mobile application software that connects people with athletes.

Showa ManufacturingLtd

Market Cap: JP¥4.1b

Manufactures and sells heat source and hot water supply products in Japan.

Hioki E.E

Market Cap: JP¥82.0b

Develops, manufactures, sells, and services electrical measuring instruments in Japan, China, rest of Asia, America, Europe, and internationally.

SAKAI HoldingsLTD

Market Cap: JP¥5.5b

Engages in the renewable energy business in Japan.

Yutaka Trusty Securities

Market Cap: JP¥9.5b

Trades in commodity futures in Japan.

Hokuto

Market Cap: JP¥59.9b

Researches, develops, produces, and sells mushrooms in Japan and internationally.

Integral

Market Cap: JP¥124.1b

A private equity firm which specializes in management buyouts, turnaround, leveraged buyouts, mezzanine, and other minority investments.

GSI Creos

Market Cap: JP¥29.7b

Offers textiles and industrial products worldwide.

Eidai KakoLtd

Market Cap: JP¥2.3b

Manufactures, imports, and sells plastic sheets in Japan.

Watami

Market Cap: JP¥39.8b

Engages in the food service, home meal service, environmental, and agriculture businesses in Japan and internationally.

Chubu-Nippon Broadcasting

Market Cap: JP¥21.7b

Through its subsidiaries, engages in the television and radio broadcasting businesses in Japan and internationally.

Ebrains

Market Cap: JP¥3.4b

Designs, develops, produces, and sells industrial electronics and industrial computers designed for information, communications, control, video, and measurement fields.