Japanese Undervalued based on future growth

Nippon Steel

Market Cap: JP¥3.1t

Engages in steelmaking and steel fabrication, engineering and construction, chemicals and materials, and system solutions businesses in Japan and internationally.

Aisin

Market Cap: JP¥1.3t

Manufactures and sells automotive parts, and energy and lifestyle related products.

Nissan Motor

Market Cap: JP¥1.2t

Manufactures and sells vehicles and automotive parts worldwide.

Yamaha Motor

Market Cap: JP¥1.1t

Engages in the land mobility, marine products, robotics, financial services, and others businesses in Japan, North America, Europe, Asia, and internationally.

Mitsubishi Chemical Group

Market Cap: JP¥974.4b

Provides performance products, chemicals, industrial gases, health care products, and other products in Japan and internationally.

Sumitomo Forestry

Market Cap: JP¥873.7b

Engages in the timber building materials, housing, overseas housing, construction, and real estate, and resources and environment businesses in Japan, the United States, Australia, China, Indonesia, New Zealand, and internationally.

Tokyo Electric Power Company Holdings

Market Cap: JP¥698.8b

Engages in the generation, transmission, distribution, and retail of electric power in Japan and internationally.

Acom

Market Cap: JP¥616.3b

Offers loans, credit cards, and loan guarantee services in Japan and internationally.

Mitsui Chemicals

Market Cap: JP¥582.6b

Engages in the mobility, life and health care, basic and green materials, ICT, and other businesses worldwide.

HASEKO

Market Cap: JP¥551.4b

Engages in the real estate, construction, and engineering businesses in Japan and internationally.

Mitsubishi Motors

Market Cap: JP¥532.6b

Engages in the development, production, and sale of passenger vehicles, and its parts and components in Japan, Europe, North America, Oceania, the rest of Asia, and internationally.

Nikon

Market Cap: JP¥496.8b

Manufactures and sells optical instruments in Japan, North America, Europe, China, Thailand, and internationally.

Yokohama Rubber Company

Market Cap: JP¥490.6b

Engages in the manufacture and sale of tires in Japan and internationally.

Resonac Holdings

Market Cap: JP¥467.6b

Operates as a chemical company in Japan, China, rest of Asia, and internationally.

Mitsubishi Gas Chemical Company

Market Cap: JP¥424.1b

Manufactures and sells basic and fine chemicals, and functional materials in Japan.

JTEKT

Market Cap: JP¥357.8b

Manufactures and sells steering systems, driveline components, bearings, machine tools, electronic control devices, home accessory equipment, etc.

Macnica Holdings

Market Cap: JP¥348.8b

Imports, sells, and exports electronic components in Japan.

Sumco

Market Cap: JP¥348.7b

Manufactures and sells silicon wafers for the semiconductor industry in Japan, the United States, China, Taiwan, Korea, and internationally.

Kyushu Financial Group

Market Cap: JP¥301.7b

Through its subsidiaries, provides various financial products and services to customers in Japan.

Taiyo Yuden

Market Cap: JP¥278.4b

Develops, manufactures, and sells electronic components in Japan, China, Hong Kong, and internationally.

Chugin Financial GroupInc

Market Cap: JP¥276.8b

Through its subsidiary The Chugoku Bank, Limited, provides various financial services to corporate and individual customers in Japan.

Nishi-Nippon Financial Holdings

Market Cap: JP¥275.2b

Through its subsidiaries, manages and operates banks and other companies that provide financial and non-financial solutions in Japan, Hong Kong, China, and Singapore.

AEON Financial Service

Market Cap: JP¥250.0b

Through its subsidiaries, provides various financial services in Japan.

ULVAC

Market Cap: JP¥235.2b

Engages in vacuum equipment and applications business in Japan and internationally.

Penta-Ocean Construction

Market Cap: JP¥227.0b

Engages in the civil engineering and building construction activities in Japan, Southeast Asia, and internationally.

Tokuyama

Market Cap: JP¥195.3b

Produces and sells various chemical products in Japan.

Financial Partners GroupLtd

Market Cap: JP¥194.2b

Provides various financial products and services in Japan.

North Pacific BankLtd

Market Cap: JP¥178.5b

Provides various banking products and services for individuals and corporations in Japan.

Aiful

Market Cap: JP¥169.5b

Engages in the consumer finance and credit guarantee business in Japan.

Denka

Market Cap: JP¥167.6b

Manufactures and sells organic and inorganic materials to electronic materials and pharmaceuticals in Japan and internationally.

Meiko Electronics

Market Cap: JP¥160.4b

Engages in the design, manufacture, and sale of printed circuit boards (PCBs) and auxiliary electronics in Japan, China, Vietnam, the rest of Asia, North America, Europe, and internationally.

Musashi Seimitsu Industry

Market Cap: JP¥153.3b

Manufactures and sells transportation equipment in Japan and internationally.

DAIHEN

Market Cap: JP¥146.8b

Manufactures and sells transformers, welding machines, and industrial and clean transport robots.

KYB

Market Cap: JP¥139.5b

Manufactures and sells automotive, hydraulic, and aircraft components worldwide.

Kaga ElectronicsLtd

Market Cap: JP¥134.6b

Sells electronics parts, semiconductors, PCs, and peripherals in Japan, North America, Europe, and Asia.

Sumitomo Osaka Cement

Market Cap: JP¥129.9b

Engages in the cement production business in Japan and internationally.