Japanese Undervalued based on future growth

Honda Motor

Market Cap: JP¥5.0t

Develops, manufactures, and distributes motorcycles, automobiles, and power products in Japan, North America, Europe, Asia, and internationally.

Subaru

Market Cap: JP¥1.8t

Manufactures and sells automobiles and aerospace products in Japan, Rest of Asia, North America, Europe, and Internationally.

Isuzu Motors

Market Cap: JP¥1.7t

Manufactures and sells commercial vehicles, light commercial vehicles, and diesel engines and components worldwide.

Sumitomo Forestry

Market Cap: JP¥894.2b

Engages in forestry business in Japan, the United States, Australia, China, Indonesia, New Zealand, and internationally.

Nishi-Nippon Financial Holdings

Market Cap: JP¥588.3b

Through its subsidiaries, provides financial and non-financial products and services in Japan, China, Hong Kong, and Singapore.

Takashimaya Company

Market Cap: JP¥587.5b

Engages in the department stores, corporate, and mail order business in Japan.

Sumitomo Rubber Industries

Market Cap: JP¥572.2b

Provides tires, sports, and industrial and other products in Japan and internationally.

JTEKT

Market Cap: JP¥559.2b

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

Daishi Hokuetsu Financial Group

Market Cap: JP¥530.3b

Provides financial products and services in Japan.

Shiga Bank

Market Cap: JP¥463.9b

Provides various banking products and services primarily in Japan.

Toyota Boshoku

Market Cap: JP¥441.4b

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

Taiheiyo Cement

Market Cap: JP¥418.9b

Engages in the cement, mineral resources, environmental, construction materials, and other businesses in Japan and internationally.

Macnica Holdings

Market Cap: JP¥417.5b

Imports, sells, and exports electronic components in Japan.

Fuyo General Lease

Market Cap: JP¥400.7b

Engages in the leasing and instalment sales business in Japan and internationally.

North Pacific BankLtd

Market Cap: JP¥394.3b

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

Tokuyama

Market Cap: JP¥281.8b

Produces and sells various chemical products in Japan.

Kanadevia

Market Cap: JP¥198.0b

Engages in the design, manufacture, installation, sale, repair and maintenance of environmental equipment, plants, machinery, and infrastructure facilities in Japan, Europe, Asia, North America, Middle East, and internationally.

Heiwa

Market Cap: JP¥190.4b

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

Okaya

Market Cap: JP¥186.1b

Engages in the selling, exporting, and importing of iron and steel, special steel, non-ferrous metals in Japan and internationally.

Kasumigaseki CapitalLtd

Market Cap: JP¥162.5b

Engages in real estate consulting businesses in Japan.

Nippon Paper Industries

Market Cap: JP¥151.8b

Engages in the production and sale of pulp and paper products in Japan, Oceania, Asia, North America, and internationally.

Hokuetsu

Market Cap: JP¥142.7b

Manufactures and sells paper products in Japan, the rest of Asia, North America, and internationally.

Japan Investment Adviser

Market Cap: JP¥125.2b

Provides various financial solutions in Japan.

JAFCO Group

Market Cap: JP¥121.2b

JAFCO Group Co., Ltd. formerly known as JAFCO Co., Ltd.

Kyokuto Kaihatsu KogyoLtd

Market Cap: JP¥115.3b

Manufactures and sells special purpose vehicles, environmental equipment and systems, and car parking systems in Japan.

Nichiha

Market Cap: JP¥113.9b

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

Ki-Star Real EstateLtd

Market Cap: JP¥112.1b

Operates as a real estate company.

Aisan Industry

Market Cap: JP¥110.6b

Engages in the manufacture and sale of automotive parts in Japan and internationally.

Zeria Pharmaceutical

Market Cap: JP¥99.8b

Manufactures, sells, imports, and exports pharmaceuticals, non-pharmaceutical products, veterinary pharmaceuticals, agricultural and industrial chemicals, and reagents in Japan and internationally.

Kanto Denka Kogyo

Market Cap: JP¥92.1b

Manufactures and sells various chemical products in Japan, rest of Asia, Europe, and America.

Press Kogyo

Market Cap: JP¥81.7b

Engages in the manufacture and sale of automotive parts and molds in Japan, Thailand, the United States, and internationally.

Ai Robotics

Market Cap: JP¥81.3b

Engages in advertising business in Japan.

Restar

Market Cap: JP¥80.1b

Engages in the sale of semiconductors, electronic components, image sensors, cameras, peripheral equipment, and related products in Japan, China, South Korea, Vietnam, Taiwan, and internationally.

West Holdings

Market Cap: JP¥72.9b

Engages in the renewable energy business in Japan and internationally.

Premium Group

Market Cap: JP¥71.0b

Engages in the provision of financing and services worldwide.

Nippon Thompson

Market Cap: JP¥71.0b

Develops, manufactures, and sells needle roller bearings, linear motion rolling guides, precision positioning tables, and machine components under the IKO brand in Japan, North America, Europe, China, Singapore, Malaysia, and India.