Japanese Capital Goods Undervalued over 20% based on DCF

Komatsu

Market Cap: JP¥4.6t

Manufactures and sells construction, mining, and utility equipment in Japan, the Americas, Europe, China, Rest of Asia, Oceania, the Middle East, Africa, and CIS countries.

Sekisui Chemical

Market Cap: JP¥1.1t

Engages in the housing, urban infrastructure and environmental products, high performance plastics, and medical businesses in Japan, Europe, Asia, and the Americas.

MINEBEA MITSUMI

Market Cap: JP¥1.0t

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

MISUMI Group

Market Cap: JP¥607.0b

Engages in the factory automation (FA) and die component businesses in Japan, China, rest of Asia, the Americas, Europe, and internationally.

DMG Mori

Market Cap: JP¥495.8b

Manufactures and sells machine tools worldwide.

Fujitec

Market Cap: JP¥439.5b

Engages in the research, development, manufacture, marketing, installation, and maintenance of elevators, escalators, moving walks, and transportation systems in Japan, East Asia, Europe, the Middle East, South Asia, South America, and North America.

Sumitomo Heavy Industries

Market Cap: JP¥399.4b

Manufactures and sells general machinery worldwide.

Nichias

Market Cap: JP¥355.8b

Manufactures and sells thermal insulation materials primarily in Japan.

Meidensha

Market Cap: JP¥272.2b

Engages in the power infrastructure; public, industrial, and commercial sector; mobility and electrical components; field service engineering; and real estate businesses in Japan and internationally.

Takeuchi Mfg

Market Cap: JP¥252.8b

Manufactures and sells construction machinery in Japan and internationally.

Hanwa

Market Cap: JP¥249.2b

Trades in steel, metals and alloys, nonferrous metals, food products, petroleum and chemicals, lumber, machinery, and other products in Japan and internationally.

Dai-Dan

Market Cap: JP¥241.6b

Engages in the design, supervision, and construction of electrical, air conditioning, plumbing and sanitary, and firefighting facilities works in Japan.

Sanki Engineering

Market Cap: JP¥241.1b

Provides various social infrastructure services in Japan and internationally.

Fuji

Market Cap: JP¥238.6b

Manufactures and sells machines and machine tools in Japan.

Inaba Denki SangyoLtd

Market Cap: JP¥232.5b

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

Hino Motors

Market Cap: JP¥224.2b

Manufactures and sells commercial vehicles under the Hino brand worldwide.

Glory

Market Cap: JP¥206.2b

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

Chudenko

Market Cap: JP¥204.7b

Operates as an equipment engineering company in Japan.

Yurtec

Market Cap: JP¥183.7b

Operates as a facility engineering company in Japan and internationally.

InabataLtd

Market Cap: JP¥181.0b

Provides solutions and services for information and electronics, chemicals, life industry, and plastics businesses in Japan and internationally.

OSG

Market Cap: JP¥168.2b

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

Shin Nippon Air Technologies

Market Cap: JP¥140.7b

Provides engineering systems to control air, water, heat, and other areas of air conditioning, electrical, and sanitary facilities in Japan and internationally.

Raito Kogyo

Market Cap: JP¥140.1b

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

Nitto Kogyo

Market Cap: JP¥131.1b

Manufactures and sells electric and mechanical equipment worldwide.

Toenec

Market Cap: JP¥130.8b

An integrated facility company, engages in the construction and improvement of social infrastructure in the energy, environment, and information technology fields in Japan.

Totech

Market Cap: JP¥128.2b

Engages in the sale of environment control equipment in Japan.

Noritake

Market Cap: JP¥121.9b

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

TOCALOLtd

Market Cap: JP¥121.3b

Develops surface modifying technologies in Japan and internationally.

Yokogawa Bridge Holdings

Market Cap: JP¥109.5b

Engages in the design, fabrication, and construction of steel structures in Japan and internationally.

Nissei ASB Machine

Market Cap: JP¥107.3b

Engages in the planning, development, manufacturing, and sale of machines that produce PET and other plastic bottles worldwide.

Mitsuboshi Belting

Market Cap: JP¥103.3b

Manufactures and sells belts, construction materials, etc.

Astroscale Holdings

Market Cap: JP¥93.2b

Provides on-orbit service solutions.

Toyo Tanso

Market Cap: JP¥86.7b

Engages in the production and sale of carbon materials in Japan and internationally.

Aichi

Market Cap: JP¥85.1b

Manufactures and sells mechanized vehicles for electric utilities, telecommunications, construction, cargo handling, shipbuilding, and rail industries in Japan, Asia, Oceania, Europe, and internationally.

Nihon Dengi

Market Cap: JP¥82.7b

Engages in the design and construction of automatic control systems, as well as the sale of automatic control equipment. The company operates through two segments: Air Conditioning and Instrumentation Related Business and Industrial System Related Business.

Ryobi

Market Cap: JP¥77.3b

Operates as a die casting manufacturer in Japan, the United States, China, and internationally.