Japanese Capital Goods Undervalued over 20% based on DCF

Kajima

Market Cap: JP¥2.9t

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

Obayashi

Market Cap: JP¥2.7t

Engages in the construction business in Japan, North America, Asia and internationally.

Nidec

Market Cap: JP¥2.6t

Develops, manufactures, and sells motors, electronics and optical components, and other related products in Japan and internationally.

AGC

Market Cap: JP¥1.2t

Manufactures and sells architectural glass, electronics, chemicals, automotive, and ceramics worldwide.

Hitachi Construction Machinery

Market Cap: JP¥1.2t

Manufactures and sells construction machineries in Japan, the Americas, Europe, Russia, CIS, Africa, the Middle East, Asia, Oceania, and China.

MINEBEA MITSUMI

Market Cap: JP¥1.1t

Manufactures and supplies machined components, electronic devices and components, automotive, and industrial machinery and home security business in Japan and internationally.

MonotaRO

Market Cap: JP¥895.6b

Operates an online MRO products store for factories in Japan and internationally.

Kraftia

Market Cap: JP¥687.0b

Engages in design, construction, and installation of power infrastructure construction business in Japan.

Takasago Thermal Engineering

Market Cap: JP¥607.1b

Designs, constructs, manufactures, sells, and installs heating, ventilation, and air conditioning (HVAC) systems in Japan and internationally.

Sanki Engineering

Market Cap: JP¥421.8b

Provides various social infrastructure services in Japan and internationally.

Miura

Market Cap: JP¥394.8b

Produces and sells boilers in Japan and internationally.

Dai-Dan

Market Cap: JP¥373.1b

Engages in the design, supervision, and construction of electrical, air conditioning, water hygiene, and firefighting facilities works and machinery in Japan.

DMG Mori

Market Cap: JP¥360.6b

Manufactures and sells machine tools worldwide.

MIRAIT ONE

Market Cap: JP¥332.3b

Engages in the telecommunications construction, electrical construction, civil engineering work, and architectural and construction businesses in Japan.

Inaba Denki SangyoLtd

Market Cap: JP¥310.7b

Sells electrical equipment and materials, industrial automation, and proprietary products in Japan and internationally.

Namura Shipbuilding

Market Cap: JP¥299.7b

Engages in the manufacture and sale of ships, machinery, and steel structures worldwide.

SHO-BOND HoldingsLtd

Market Cap: JP¥291.0b

Engages in repairing and reinforcing social infrastructures in Japan.

Kumagai GumiLtd

Market Cap: JP¥270.0b

Operates as a construction company in Japan and internationally.

Chudenko

Market Cap: JP¥259.7b

Operates as an equipment engineering company in Japan.

PowerXInc

Market Cap: JP¥253.9b

Manufactures and sells energy storage systems.

Okuma

Market Cap: JP¥239.6b

Manufactures and sells machine tools in Japan, the United States, Europe, and Asia/Pacific.

Okumura

Market Cap: JP¥229.6b

Engages in construction and related businesses in Japan.

Glory

Market Cap: JP¥226.4b

Develops, manufactures and sells cash handling machines in Japan, the United States, Europe, and Asia.

Kanadevia

Market Cap: JP¥204.8b

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.

Toenec

Market Cap: JP¥198.2b

Engages in the construction and improvement of social infrastructure in the energy, environment, and information technology fields in Japan.

Yurtec

Market Cap: JP¥190.1b

Operates as a facility engineering company in Japan and internationally.

Noritake

Market Cap: JP¥180.1b

Noritake Co., Limited with its subsidiaries, provides industrial, ceramic and material, engineering, and tabletop products in Japan and internationally.

KITZ

Market Cap: JP¥177.2b

Engages in the manufacturing and selling of valves, other flow control devices, and related products in Japan and internationally.

Raito Kogyo

Market Cap: JP¥172.4b

Engages in the civil engineering works business in Japan, North America, and internationally.

Totech

Market Cap: JP¥164.4b

Engages in the sale of air conditioning equipment in Japan.

Trusco Nakayama

Market Cap: JP¥157.7b

A trading company, engages in the wholesale of work, measuring, and cutting tools in Japan and internationally.

TOKAI Holdings

Market Cap: JP¥155.0b

Engages in energy, information and communications, and related businesses in Japan and internationally.

Toyo Engineering

Market Cap: JP¥147.9b

Engages in the engineering and construction of industrial facilities in Japan, India, China, and internationally.

Bunka Shutter

Market Cap: JP¥135.8b

Manufactures and sells building materials in Japan, Australia, and internationally.

Japan Pulp and Paper

Market Cap: JP¥124.7b

Engages in the manufacture, import, export, distribution, wholesale, and sale of paper, paperboards, pulp, and paper-related products in Japan, Europe, Asia, Oceania, North America, and internationally.

Toyo Tanso

Market Cap: JP¥122.5b

Produces and sells carbon materials in Japan and internationally.