U.S. Potentially Undervalued Companies

Television Broadcasts

Market Cap: US$1.6b

Engages in terrestrial television broadcasting, program production, and other television-related activities.

Shenzhen International Holdings

Market Cap: US$19.3b

An investment holding company, invests in, constructs, and operates logistics infrastructure facilities primarily in the People’s Republic of China.

TOPPAN Holdings

Market Cap: US$1.1t

Develops solutions based on its printing technologies in Japan, Asia, and internationally.

China State Construction International Holdings

Market Cap: US$52.3b

An investment holding company, engages in the construction business for private and public sectors in Hong Kong, Mainland China, Macau, and internationally.

International Personal Finance

Market Cap: US$473.3m

Engages in financial services business in Europe and Mexico.

DNO

Market Cap: US$15.6b

Engages in the exploration, development, and production of oil and gas assets in the Middle East, the North Sea, and West Africa.

MediPal Holdings

Market Cap: US$542.2b

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

Hansoh Pharmaceutical Group

Market Cap: US$210.9b

An investment holding company, engages in the research, development, production, and sale of pharmaceutical products in the People’s Republic of China.

Hansa Biopharma

Market Cap: US$3.3b

A biopharmaceutical company, engages in development and commercialization of treatments for patients with rare immunological conditions in Sweden, North America, and rest of Europe.

Kajima

Market Cap: US$2.1t

Engages in civil engineering, building construction, real estate development, architectural design, and other businesses worldwide.

Hiab Oyj

Market Cap: US$3.2b

Provides smart and on road load-handling solutions and services in Finland.

Hong Kong Technology Venture

Market Cap: US$1.1b

Engages in the e-commerce and technology businesses in Hong Kong.

zSpace

Market Cap: US$24.0m

Provides augmented and virtual reality educational technology solutions for K-12 schools, and career and technical education markets in the United States and internationally.

Svenska Handelsbanken

Market Cap: US$248.0b

Provides various banking products and services for private and corporate customers primarily in Sweden, the United Kingdom, Norway, the Netherlands, and internationally.

Vishay Intertechnology

Market Cap: US$2.0b

Manufactures and sells discrete semiconductors and passive electronic components in the United States, Germany, rest of Europe, Israel, and Asia.

Empiric Student Property

Market Cap: US$661.5m

Empiric Student Property plc is a leading provider and operator of modern, predominantly direct-let, premium student accommodation serving key UK universities.

Nichias

Market Cap: US$265.4b

Manufactures and sells thermal insulation materials primarily in Japan.

Fukui Computer HoldingsInc

Market Cap: US$63.3b

Engages in the development and sale of package CAD products for the construction industry in Japan.

Infrastructure and Energy Alternatives

Market Cap: US$667.0m

Infrastructure and Energy Alternatives, Inc., through its subsidiaries, operates as a diversified infrastructure construction company in the United States.

United Plantations Berhad

Market Cap: US$10.7b

Engages in the cultivation and processing of oil palm and coconuts in Malaysia, Indonesia, Europe, the United States, and internationally.

Nilörngruppen

Market Cap: US$841.5m

Engages in the production and sale of labels, packaging products, and accessories for the fashion and apparel industries in Sweden, the rest of Europe, and Asia.

Electricity Generating

Market Cap: US$58.7b

Generates and sells electricity to government sector and industrial users primarily in Thailand, Laos, the Philippines, Indonesia, Australia, South Korea, Taiwan, and the United States.

K. Wah International Holdings

Market Cap: US$5.7b

An investment holding company, engages in the property development and investment businesses in Hong Kong and Mainland China.

Axtel. de

Market Cap: US$3.1b

An information and communications technology (ICT) company, provides ICT solutions to companies, corporations, financial institutions, and government entities in Mexico.

Etablissements Maurel & Prom

Market Cap: US$1.0b

Engages in exploration and production of oil and gas, and hydrocarbons in Gabon, Tanzania, Angola, Colombia, Venezuela, Italy, Nigeria, and France.

Boliden

Market Cap: US$100.5b

Engages in the extracting, producing, and recycling of base metals in Sweden, Finland, other Nordic region, Germany, the United Kingdom, Europe, North America, and internationally.

Unisync

Market Cap: US$25.9m

Manufactures and distributes garments in Canada and the United States.

Nippon Kayaku

Market Cap: US$217.3b

Engages in mobility and imaging, fine chemicals, and life sciences businesses in Japan.

ArcLight Clean Transition II

Market Cap: US$303.0m

As of July 21, 2022, ArcLight Clean Transition Corp.

Lycopodium

Market Cap: US$457.8m

Provides engineering and project delivery services in the resources, rail infrastructure, and industrial processes sectors in Australia.

Ratch Group

Market Cap: US$53.9b

An energy and infrastructure company, engages in the generation and sale of electricity and steam in Thailand, Australia, Singapore, Indonesia, and internationally.

COLTENE Holding

Market Cap: US$304.8m

Develops, manufactures, and sells disposables, tools, and equipment for dentists and dental laboratories in Europe, the Middle East, Africa, North America, Latin America, and Asia/Oceania.

Bank of Ayudhya

Market Cap: US$215.2b

Provides commercial banking products and services to individuals, corporates, small and medium-sized businesses, and financial institutions.

Soundwill Holdings

Market Cap: US$1.5b

An investment holding company, engages in the real estate business in Hong Kong and the People's Republic of China.

Citychamp Watch & Jewellery Group

Market Cap: US$1.9b

An investment holding company, manufactures, sells, and distributes watches and timepieces in Hong Kong, the People’s Republic of China, Switzerland, the United Kingdom, Liechtenstein, and internationally.

Hakuhodo DY Holdings

Market Cap: US$439.9b

Provides marketing and communications services in Japan and internationally.