Global Materials Undervalued over 20% based on DCF

Hakudo

Market Cap: JP¥42.1b

Processes and sells metal and plastic materials in Japan, China, Thailand, and Vietnam.

Misr National Steel - Ataqa

Market Cap: ج.م13.2b

Manufactures and sells steel rebars in Egypt.

KB Components

Market Cap: SEK 2.5b

Designs, develops, manufactures, and sells polymer components for light vehicles, heavy vehicles, medical technology, general industry, furniture, industrial windows, and packaging and lighting in Sweden and internationally.

Ishihara Chemical

Market Cap: JP¥40.9b

Engages in the manufacture and sale of chemical products in Japan, Taiwan, China, and internationally.

Formosan Rubber Group

Market Cap: NT$8.1b

Produces and markets rubber sheets, plastic sheets, plastic foam sheets, PVC resin sheets, and related materials.

Nampak

Market Cap: R3.7b

Engages in the manufacture and sale of packaging products in South Africa and rest of Africa.

Acadian Timber

Market Cap: CA$321.1m

Provides forest products in Eastern Canada and the Northeastern United States.

Mitsubishi Steel Mfg

Market Cap: JP¥36.9b

Manufactures and sells steel products, construction machinery parts, automotive parts, and machinery and equipment in Japan, North America, rest of Asia, Europe, and internationally.

S H Kelkar

Market Cap: ₹21.8b

Manufactures and supplies fragrances, flavors, and aroma ingredients in India, Europe, and internationally.

Mory Industries

Market Cap: JP¥35.9b

Manufactures and sells stainless steel and welded carbon steel products in Japan.

Kuriyama Holdings

Market Cap: JP¥35.7b

Manufactures and sells of various hoses, rubber, and plastics products in Japan, the United States, Canada, Europe, and internationally.

Huhtamaki India

Market Cap: ₹20.7b

Engages in the manufacture and sale of packaging materials in India.

Kafrit Industries (1993)

Market Cap: ₪638.8m

Offers customized masterbatches and compounds, and additives in Israel, China, Germany, Canada, the United states, Sweden, and internationally.

Dongkuk HoldingsLtd

Market Cap: ₩295.8b

Engages in the manufacture and sale of steel products in South Korea and internationally.

Sotkamo Silver

Market Cap: SEK 1.9b

A mining and ore prospecting company, develops and utilizes mineral deposits in the Kainuu region in Finland.

TYK

Market Cap: JP¥30.8b

Engages in the manufacture and sale of functional refractories and ceramics worldwide.

Titomic

Market Cap: AU$265.0m

Offers manufacturing and technology solutions for high-performance metal additive manufacturing in Australia, the United States, and Europe.

Tokyo Rope Mfg

Market Cap: JP¥29.8b

Manufactures and sells wire ropes, steel cords, and carbon fiber composite cables (CFCCs) in Japan and internationally.

Dynacor Group

Market Cap: CA$256.3m

Engages in the exploration, development, and mining of minerals properties in Peru.

Castings

Market Cap: UK£131.7m

Engages in the iron casting and machining business in the United Kingdom, Germany, Sweden, the Netherlands, rest of Europe, North and South America, and internationally.

Tabuk Cement

Market Cap: ر.س653.4m

Manufactures and sells cement in Saudi Arabia.

Miwon Chemicals

Market Cap: ₩224.7b

Develops, manufactures, and sells performance chemicals for use in the rubber, detergent, and personal care industries worldwide.

Araya Industrial

Market Cap: JP¥25.7b

Manufactures and sells steel products in Japan and internationally.

Univacco Technology

Market Cap: NT$5.0b

Engages in the production and sales of vacuum evaporation thin films and optoelectronic materials in Taiwan, Europe, Mainland China, America, and internationally.

KPX ChemicalLtd

Market Cap: ₩218.1b

Manufactures and sells organic chemicals and chemical products in South Korea.

Nitta Gelatin India

Market Cap: ₹14.4b

Engages in the manufacture and sale of ossein, gelatin, and collagen peptide in India and internationally.

Sanghi Industries

Market Cap: ₹13.8b

Manufactures and markets cement and clinker in India.

Dynapac

Market Cap: JP¥23.6b

Engages in the manufacture and sale of packaging materials in Japan and internationally.

Dong Hai Ben Tre

Market Cap: ₫3.9t

Produces and trades in industrial paper products and cardboard packaging in Vietnam.

Bahadir Kimya Sanayi ve Ticaret

Market Cap: ₺6.9b

Manufactures and sells chemical products in Turkey and internationally.

Kyowa Leather Cloth

Market Cap: JP¥22.0b

Manufactures and sells synthetic leather cover materials in Japan.

MORESCO

Market Cap: JP¥20.7b

Develops, manufactures, and sells chemical products in Japan, China, Southeast/South Asia, and North America.

Gulshan Polyols

Market Cap: ₹11.9b

Engages in the mineral and grain processing, and ethanol distillery businesses in India.

Siam Pan Group

Market Cap: ฿4.0b

Manufactures and distributes lubricating oils and greases in Thailand, Myanmar, and internationally.

Arab Pesticides & Veterinary Drugs Mfg

Market Cap: د.أ84.0m

The Arab Pesticides & Veterinary Drugs Mfg.

Franchi Umberto Marmi

Market Cap: €101.5m

Provides marble slabs and blocks in Italy and internationally.