Japanese Retail Undervalued over 20% based on DCF

Sanrio Company

Market Cap: JP¥1.2t

Plans and sells social communication gifts, greeting cards, and books in Japan, Europe, North America, South America, rest of Asia, and internationally.

SHIMAMURA

Market Cap: JP¥684.3b

Engages in the sale of clothing and fashion related products in Japan and Taiwan.

Yamada Holdings

Market Cap: JP¥357.3b

Operates in the consumer electronics retailing activities in Japan and internationally.

Paltac

Market Cap: JP¥300.6b

Engages in the wholesale of cosmetics, daily necessities, and over-the-counter drugs in Japan.

PAL GROUP Holdings

Market Cap: JP¥250.1b

Engages in the planning, manufacture, wholesale, and retail of clothing products, including men’s and women’s clothing and accessories in Japan.

Seria

Market Cap: JP¥237.2b

Operates stores in Japan.

Izumi

Market Cap: JP¥222.1b

Operates general merchandise stores in Japan.

BuySell TechnologiesLtd

Market Cap: JP¥193.5b

Engages in the reuse business in Japan.

AOKI Holdings

Market Cap: JP¥136.8b

Engages in the fashion, anniversary and bridal, entertainment, and real estate rental businesses in Japan.

IDOM

Market Cap: JP¥135.5b

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

JINS HOLDINGS

Market Cap: JP¥123.7b

Through its subsidiaries, engages in the planning, manufacturing, sales, and import/export of eyewear in Japan and internationally.

Aoyama Trading

Market Cap: JP¥118.2b

Engages in the business wear, credit card, printing and media, sundry sales, repair service, franchisee, real estate and other businesses in Japan.

Happinet

Market Cap: JP¥117.7b

Operates as an entertainment trading company in Japan.

Arclands

Market Cap: JP¥115.1b

Engages in the retail business in Japan.

Central Automotive Products

Market Cap: JP¥106.9b

Engages in the development, import and export, and sale of automotive parts and related services.

Arata

Market Cap: JP¥100.9b

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

Kintetsu Department Store

Market Cap: JP¥72.9b

Operates department stores in Japan.

Komehyo HoldingsLtd

Market Cap: JP¥52.6b

Engages in the purchase and sale of used and new products through stores in Japan.

Alleanza Holdings

Market Cap: JP¥43.6b

Engages in the home improvement, pet shops, and other related businesses.

Syuppin

Market Cap: JP¥23.4b

Operates e-commerce websites for buying and selling new and used products in Japan.

Sac's Bar Holdings

Market Cap: JP¥22.7b

Engages in the retail sale of bags, fashion goods, and related accessories in Japan.

KING

Market Cap: JP¥17.9b

Manufactures and sells textile products.

TOKYO BASELtd

Market Cap: JP¥17.6b

Provides clothing products in Japan.

Daimaru Enawin

Market Cap: JP¥14.3b

Sells LP gas and petroleum products in Japan.

Harima-KyowaLTD

Market Cap: JP¥10.8b

Engages in the wholesale of daily necessities, cosmetics, and toiletries in Japan.

International Conglomerate of Distribution for Automobile Holdings

Market Cap: JP¥9.2b

International Conglomerate of Distribution for Automobile Holdings Co., Ltd.

Zett

Market Cap: JP¥8.8b

Engages in the manufacture and wholesale of sports equipment in Japan.

Tabio

Market Cap: JP¥8.3b

Plans, manufactures, wholesales, and retails socks.

Sanyei

Market Cap: JP¥7.7b

Engages in the wholesale and retail of furniture and houseware, fashion accessories, and home appliances in Japan and internationally.

Cox

Market Cap: JP¥7.1b

Together with its subsidiary, engages in planning, manufacturing, and sales of clothing and miscellaneous goods in Japan.

Yamano Holdings

Market Cap: JP¥3.5b

Engages in the retail business in Japan.

DaiwaLtd

Market Cap: JP¥2.0b

Operates departmental stores in Japan.