Japanese Undervalued over 20% based on DCF

SRE Holdings

Market Cap: JP¥59.0b

Engages in the AI cloud and consulting, and real estate tech businesses in Japan.

DaikyoNishikawa

Market Cap: JP¥58.2b

Develops, manufactures, and sells automotive parts and synthetic plastic products in Japan.

Komehyo HoldingsLtd

Market Cap: JP¥57.8b

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

Soken Chemical & Engineering

Market Cap: JP¥57.0b

Manufactures and sells acrylic pressure-sensitive adhesives, functional polymers, organic fine particles, and adhesive tapes in Japan, China, and internationally.

Forum Engineering

Market Cap: JP¥56.9b

Provides dispatch and introduction of engineers, and a wide range of services to engineers, science and engineering students, and other people in Japan.

Nagano Keiki

Market Cap: JP¥55.7b

Manufactures and sells pressure gauges and sensors, measurement and control equipment, and other products in Japan and internationally.

Starts Proceed Investment

Market Cap: JP¥55.2b

Starts Proceed Investment Corporation with 150 million yen in capital (750 units) based on the Act on Investment Trusts and Investment Corporations.

Nichirin

Market Cap: JP¥54.4b

Manufactures and sells automotive and housing hoses, and related parts in Japan and internationally.

Seikitokyu Kogyo

Market Cap: JP¥54.4b

Engages in the construction, manufactures and sells paving materials in Japan.

Gltechno Holdings

Market Cap: JP¥53.2b

Through its subsidiaries, engages in analytical instruments, Semiconductors, automated recognition, and related businesses.

AIT

Market Cap: JP¥53.2b

Operates as a comprehensive logistics company in China and Southeast Asia.

Mitsui Matsushima Holdings

Market Cap: JP¥53.1b

Through its subsidiaries, engages in the consumer goods, industrial products, and energy business in Japan and internationally.

Nippon Fine Chemical

Market Cap: JP¥52.9b

Manufactures and sells fine chemical, cosmetic, and industrial chemical products in Japan and internationally.

FP Partner

Market Cap: JP¥52.9b

Engages in the insurance agency business in Japan.

Kyokuto Securities

Market Cap: JP¥52.5b

Engages in the financial instrument operator business in Japan.

m-up holdings

Market Cap: JP¥52.2b

Engages in the development and distribution of mobile and PC content, and e-commerce businesses in Japan.

Japan Eyewear Holdings

Market Cap: JP¥51.9b

Through its subsidiaries, engages in the designing, manufacturing, and selling eyeglasses in Japan.

Mirai IndustryLtd

Market Cap: JP¥51.6b

Engages in the manufacture and sale of electrical equipment materials, water supply and drainage equipment materials, and gas equipment materials in Japan.

Nittoc Construction

Market Cap: JP¥51.1b

Engages in construction works in Japan.

Suncall

Market Cap: JP¥50.2b

Manufactures and distributes automotive parts and materials, Printer-related products, and Communications-related products in Japan, North America, and Asia.

T.RAD

Market Cap: JP¥48.4b

Engages in the research and development, manufacture, and sale of heat exchangers for automobiles, construction and industrial machines, air conditioners, generators, and others in Japan, the United States, China, rest of Asia, and internationally.

QuickLtd

Market Cap: JP¥48.3b

Engages in the recruiting, human resources service, information publishing, and Internet-related businesses in Japan and internationally.

FUJIKURA COMPOSITES

Market Cap: JP¥47.8b

Engages in the manufacture and sale of industrial rubber components in Japan, the United States, China, and internationally.

Takara

Market Cap: JP¥47.6b

Produces, consults, prints, and translates disclosure and IR-related materials in Japan and internationally.

Softcreate Holdings

Market Cap: JP¥47.3b

Through its subsidiaries, provides system integration and other IT-related services in Japan.

Elan

Market Cap: JP¥45.7b

Engages in the nursing care business primarily in Japan.

Comture

Market Cap: JP¥44.7b

Provides cloud, digital, business, platform and operation, and digital learning solutions in Japan.

Avant Group

Market Cap: JP¥44.5b

Through its subsidiaries, provides accounting, business intelligence, and outsourcing services in Japan.

Yutaka GikenLtd

Market Cap: JP¥44.5b

Manufactures and sells automobile parts in Japan, North America, China, Asia, and internationally.

Shinnihonseiyaku

Market Cap: JP¥43.9b

Engages in developing and selling cosmetics and healthcare products in Japan and internationally.

Alleanza Holdings

Market Cap: JP¥43.6b

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

Shinwa

Market Cap: JP¥43.1b

Manufactures, sells, and maintains production equipment and materials in Japan and internationally.

Healthcare & Medical Investment

Market Cap: JP¥43.1b

Healthcare & Medical Investment Corporation was established under the Act on Investment Trusts and Investment Corporations (Act No.

Toho

Market Cap: JP¥42.7b

Through its subsidiaries, engages in the food wholesale, cash and carry, and supermarket businesses primarily in Japan.

Mitsubishi Paper Mills

Market Cap: JP¥41.7b

Develops and sell products in the fields of functional nonwoven fabrics, electronics, medical, and healthcare in Japan, Europe, Asia, North America, and internationally.

ZIGExN

Market Cap: JP¥41.6b

Operates the life service platform worldwide.