Japanese Undervalued over 20% based on DCF

Nippon Yakin Kogyo

Market Cap: JP¥59.9b

Manufactures and sells stainless steel sheets and processed products in Japan and internationally.

SRA Holdings

Market Cap: JP¥59.2b

Engages in systems development, operation/administration, and product solutions marketing businesses in Japan and internationally.

Fujio Food Group

Market Cap: JP¥57.9b

Operates various types of restaurants and restaurant franchise chains in Japan and internationally.

Avant Group

Market Cap: JP¥57.7b

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

DKS

Market Cap: JP¥57.6b

Engages in the production and sale of surfactants, other industrial chemicals, and life sciences-related products in Japan and internationally.

Yamaichi ElectronicsLtd

Market Cap: JP¥57.4b

Manufactures and sells test, connector, and optical-related products in Japan and internationally.

Shinsho

Market Cap: JP¥57.2b

Imports, exports, and trades in iron and steel, ferrous raw material, nonferrous metal, machinery, information industry, and welding products worldwide.

Shikoku Bank

Market Cap: JP¥56.4b

Provides various commercial banking products and services for individual and corporate customers in Japan.

Maruzen

Market Cap: JP¥56.0b

Engages in the manufacture and sale of commercial kitchen equipment for the domestic market.

Midac Holdings

Market Cap: JP¥55.2b

Engages in the collection, transportation, cleaning, treatment, and disposal of industrial waste in Japan.

Comture

Market Cap: JP¥55.1b

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

Oriental Shiraishi

Market Cap: JP¥54.9b

Produces, constructs, and sells prestressed concrete products and structures in Japan.

Polaris Holdings

Market Cap: JP¥54.2b

Operates a chain of hotels in Japan.

Japan Eyewear Holdings

Market Cap: JP¥53.6b

Through its subsidiaries, engages in the planning, designing, manufacturing, wholesaling, and retailing of eyewear products in Japan.

Terasaki ElectricLtd

Market Cap: JP¥53.6b

Manufactures and sells marine and industrial systems, circuit breakers, and medical devices in Japan and internationally.

SRE Holdings

Market Cap: JP¥53.0b

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

SOFT99corporation

Market Cap: JP¥52.7b

Manufactures and sells chemical products for auto and home care in Japan and internationally.

Bank of The Ryukyus

Market Cap: JP¥52.5b

Provides various banking products and services in Japan.

ZIGExN

Market Cap: JP¥52.3b

Operates the life service platform worldwide.

Aoyama Zaisan Networks CompanyLimited

Market Cap: JP¥52.1b

Provides property consulting solutions to individual and institutional asset owners in Japan.

Shinnihonseiyaku

Market Cap: JP¥51.1b

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

Kpp Group Holdings

Market Cap: JP¥51.0b

A paper-trading company, engages in buying, selling, importing, and exporting papers, paperboards, paper processed products, pulp, recovered papers, chemical products, machines related to paper, packaging and wrapping materials, and other related products.

Jp-HoldingsInc

Market Cap: JP¥51.0b

Provides childcare support services in Japan.

Waseda Academy

Market Cap: JP¥50.6b

Operates and manages tutoring schools for elementary, junior high, and high school students.

LITALICO

Market Cap: JP¥50.0b

Operates school for learning and preschool in Japan.

Takara

Market Cap: JP¥50.0b

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

Tokyo Tekko

Market Cap: JP¥50.0b

Engages in the manufacture and sale of steel bars and processed steel bar products for the construction industry in Japan.

Global Security Experts

Market Cap: JP¥48.4b

Operates as a cybersecurity education company in Japan.

Marudai Food

Market Cap: JP¥47.9b

Manufactures and sells hams and sausages, cooked processed food, and meat products in Japan and internationally.

Xebio Holdings

Market Cap: JP¥47.3b

Through its subsidiaries, operates in the sporting goods business in Japan.

Sakai Chemical Industry

Market Cap: JP¥46.7b

Provides various chemical products in Japan.

AIT

Market Cap: JP¥46.5b

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

MTI

Market Cap: JP¥46.5b

Engages in the content distribution for mobile phones in Japan.

Enplas

Market Cap: JP¥46.0b

Manufactures and sells semiconductor, automobile parts, optical communication devices, and life science related products in Japan and internationally.

Foster Electric Company

Market Cap: JP¥46.0b

Engages in the production and sale of loudspeakers, audio equipment, and electronical equipment in Japan and internationally.

Shinwa

Market Cap: JP¥45.1b

Operates as an engineering, manufacturing, and trading and logistics in Japan and internationally.