Japanese Undervalued based on future growth

Nippon Steel

Market Cap: JP¥3.0t

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

Yamaha Motor

Market Cap: JP¥1.0t

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

Sumitomo Forestry

Market Cap: JP¥886.0b

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¥650.1b

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

Sumitomo Chemical Company

Market Cap: JP¥563.0b

Engages in Chemicals & Plastics, energy and functional materials, IT-related chemicals, health and crop sciences, pharmaceuticals, and other businesses worldwide.

Resonac Holdings

Market Cap: JP¥561.0b

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

Mitsubishi Motors

Market Cap: JP¥544.4b

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.

Yokohama Rubber Company

Market Cap: JP¥540.2b

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

Sumco

Market Cap: JP¥353.0b

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

JTEKT

Market Cap: JP¥343.0b

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

Toyota Boshoku

Market Cap: JP¥340.8b

Develops, manufactures, and sells automotive interior systems in Japan, the United States, China, and internationally.

Macnica Holdings

Market Cap: JP¥336.3b

Imports, sells, and exports electronic components in Japan.

Yamaguchi Financial Group

Market Cap: JP¥325.3b

Provides various banking products and services in Japan.

Chugin Financial GroupInc

Market Cap: JP¥309.8b

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

Kyushu Financial Group

Market Cap: JP¥309.8b

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

Nishi-Nippon Financial Holdings

Market Cap: JP¥293.5b

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

ULVAC

Market Cap: JP¥243.8b

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

Kaneka

Market Cap: JP¥243.1b

Engages in the manufacture and sale of polyvinyl chloride (PVC), crosslinked PVC, PVC-PVAc polymers, paste PVC, acryl grafted-vinyl chloride copolymer, and chlorinated PVC in Japan and internationally.

North Pacific BankLtd

Market Cap: JP¥216.9b

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

JEOL

Market Cap: JP¥215.7b

Engages in the research, development, manufacture, and marketing of scientific and metrology instruments, semiconductor and industrial equipment, and medical equipment worldwide.

Tokuyama

Market Cap: JP¥211.0b

Produces and sells various chemical products in Japan.

Heiwa

Market Cap: JP¥202.0b

Develops, manufactures, and sells pachinko and pachislot machines in Japan.

Financial Partners GroupLtd

Market Cap: JP¥194.5b

Provides various financial products and services in Japan.

Aiful

Market Cap: JP¥194.4b

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

Kumagai GumiLtd

Market Cap: JP¥181.8b

Operates as a construction company in Japan and internationally.

Nisshin OilliO GroupLtd

Market Cap: JP¥152.5b

Engages in oil and fat, processed food and material, fine chemicals, and other businesses in Japan, Malaysia, China, Europe, the United States, and internationally.

DAIHEN

Market Cap: JP¥147.2b

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

KYB

Market Cap: JP¥141.2b

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

Nisshinbo Holdings

Market Cap: JP¥140.4b

Operates wireless communication, microdevice, automobile brakes, precision instruments, chemicals, textiles, and real estate businesses in China and internationally.

Kasumigaseki CapitalLtd

Market Cap: JP¥136.6b

Engages in real estate consulting businesses in Japan.

OSG

Market Cap: JP¥136.0b

Manufactures and sells cutting tools in Japan, the Americas, Europe, Africa, and Asia.

Ferrotec Holdings

Market Cap: JP¥124.7b

Engages in semiconductor equipment-related, electronic device, and other businesses in Japan and internationally.

IDOM

Market Cap: JP¥105.3b

IDOM Inc. purchases and sells used cars in Japan and internationally.

Japan Investment Adviser

Market Cap: JP¥104.2b

Provides various financial solutions in Japan.

Nichiha

Market Cap: JP¥101.3b

Manufactures and markets exterior and interior building products for residential, and commercial and public facilities in Japan, and internationally.

Arata

Market Cap: JP¥99.2b

Engages in the wholesale of daily goods, cosmetics, household goods, pet supplies, and others in Japan.