Japanese Undervalued over 20% based on DCF

Gakujo

Market Cap: JP¥25.2b

Provides recruitment solutions to companies.

GakkyushaLtd

Market Cap: JP¥25.1b

Manages cram schools that offers entrance exams guidance to junior high schools, high schools, and universities in Japan and internationally.

Ashimori Industry

Market Cap: JP¥24.9b

Manufactures and sells automotive safety systems in Japan and internationally.

Hirose Tusyo

Market Cap: JP¥24.6b

Operates as a foreign exchange margin trading company in Japan.

Mitani Sangyo

Market Cap: JP¥24.6b

Engages in chemicals, resin, electronics, information systems, air conditioning systems, housing equipment, energy businesses in Japan and internationally.

Focus Systems

Market Cap: JP¥24.5b

Operates as an IT-related company in Japan.

Araya Industrial

Market Cap: JP¥24.5b

Manufactures and sells steel products in Japan and internationally.

Matching Service Japan

Market Cap: JP¥24.3b

Provides recruitment service in Japan.

FALCO HOLDINGS

Market Cap: JP¥24.1b

A medical service company, provides clinical testing and dispensing pharmacy services to medical institutions and companies in Japan.

Suzuden

Market Cap: JP¥23.8b

Engages in purchasing and selling products related to electrical and electronic components in Japan.

Nippon Chemical Industrial

Market Cap: JP¥23.7b

Manufactures and sells various chemical products in Japan.

Systems Engineering ConsultantsLTD

Market Cap: JP¥23.5b

A software development company, provides real-time software solutions in mobile networking, Internet technology, public infrastructure, space, robotics, and advanced technology fields in Japan.

Tanabe Consulting GroupLtd

Market Cap: JP¥23.3b

Engages in the management and marketing consulting activities.

NittoseikoLtd

Market Cap: JP¥23.2b

Manufactures and sells industrial fasteners and tools, industrial machinery and precision equipment, measurement and control equipment, and medical equipment in Japan, rest of Asia, and internationally.

TYK

Market Cap: JP¥23.2b

Engages in the manufacture and sale of functional refractories and ceramics worldwide.

note

Market Cap: JP¥22.9b

Engages in the media platform business in Japan.

Dream Incubator

Market Cap: JP¥22.6b

A venture capital and private equity firm specializing in incubation and investments in all business stages.

NISSO HOLDINGS

Market Cap: JP¥22.4b

Provides human resources services in Japan.

BEAUTY GARAGE

Market Cap: JP¥22.0b

BEAUTY GARAGE Inc. purchases and sells beautician and beauty products and equipment.

Nippon Kodoshi

Market Cap: JP¥21.8b

Manufactures and sells separators in Japan and internationally.

CMC

Market Cap: JP¥21.7b

Provides manual creation, business process management, training, translation, and interpretation services in Japan.

Chubu-Nippon Broadcasting

Market Cap: JP¥21.6b

Through its subsidiaries, engages in the television and radio broadcasting businesses in Japan and internationally.

Chino

Market Cap: JP¥21.4b

Manufactures and sells instrumentation and control equipment.

Chuetsu Pulp & Paper

Market Cap: JP¥21.3b

Produces, process, and sells paper, pulp, and related by-products in Japan and internationally.

Kitanotatsujin

Market Cap: JP¥21.0b

Plans, develops, manufactures, and sells health foods, cosmetics, and miscellaneous goods in Japan.

Nihon Dempa Kogyo

Market Cap: JP¥21.0b

Engages in the manufacture and sale of quartz crystal devices in Japan, rest of Asia, Europe, and North America.

NCD

Market Cap: JP¥20.9b

Engages in the system development, support and service, and parking system businesses in Japan.

ArtnerLtd

Market Cap: JP¥20.5b

Provides worker dispatching and employment placement services in Japan and internationally.

Wellness Communications

Market Cap: JP¥20.4b

Provides healthcare data platform and solutions.

JANOME

Market Cap: JP¥20.3b

Engages in the planning, development, and production of sewing machines in Japan, the Americas, Europe, CIS countries, the Middle East, Oceania, Africa, and rest of Asia.

Kyoritsu Electric

Market Cap: JP¥19.8b

Provides various systems, testing and measuring instruments, etc.

JRCLtd

Market Cap: JP¥19.7b

Designs, manufactures, and sells conveyor parts in Japan.

NS Tool

Market Cap: JP¥19.6b

Manufactures and sells cutting tools in Japan.

DMW

Market Cap: JP¥19.3b

Engages in the manufacture and sale of fluid machinery in Japan and internationally.

NCS&A

Market Cap: JP¥18.8b

Provides various IT services in Japan.

Nippon Carbide Industries

Market Cap: JP¥18.8b

Engages in the electronic and functional products, and films and sheetings business in Japan, Asia, and internationally.