Japanese Undervalued over 20% based on DCF

MatsukiyoCocokara

Market Cap: JP¥1.3t

Operates and manages chain stores, drug stores and insurance-dispensing pharmacies in Japan.

Eisai

Market Cap: JP¥1.2t

Engages in the research and development, manufacture, sale, and import and export of pharmaceuticals in Japan.

Concordia Financial Group

Market Cap: JP¥1.2t

Provides various banking products and services to small and medium-sized businesses and individuals.

TOPPAN Holdings

Market Cap: JP¥1.2t

Develops solutions based on its printing technologies in Japan and Internationally.

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.

Daito Trust ConstructionLtd

Market Cap: JP¥1.1t

Designs, constructs, and rents apartments and condominiums in Japan.

Mitsubishi Chemical Group

Market Cap: JP¥1.1t

Provides performance products, chemicals, industrial gases, health care products, and other products in Japan and internationally.

Dai Nippon Printing

Market Cap: JP¥1.1t

Primarily engages in the printing and information business.

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.

Chiba Bank

Market Cap: JP¥1.0t

Provides banking products and services in Japan and internationally.

Shizuoka Financial GroupInc

Market Cap: JP¥1.0t

Provides various banking products and services.

Niterra

Market Cap: JP¥1.0t

Manufactures and sells spark plugs and related products for internal-combustion engines and technical ceramics in Japan and internationally.

Toyo Suisan Kaisha

Market Cap: JP¥992.3b

Produces and sells food products in Japan and internationally.

Nippon Television Holdings

Market Cap: JP¥924.3b

Operates as a media and content company in Japan.

Kobe Bussan

Market Cap: JP¥913.2b

Primarily engages in the operation, management, and franchising of retail stores in Japan.

Food & Life Companies

Market Cap: JP¥885.2b

Operates a chain of Sushi restaurants.

Mebuki Financial GroupInc

Market Cap: JP¥829.6b

Provides banking products and financial services in Japan and internationally.

Meiji Holdings

Market Cap: JP¥828.4b

Through its subsidiaries, engages in the manufacture and sale of dairy products, confectionery food products and pharmaceuticals in Japan and internationally.

TBS HoldingsInc

Market Cap: JP¥802.9b

Engages in the broadcasting and real estate businesses primarily in Japan.

Ono Pharmaceutical

Market Cap: JP¥802.1b

Engages in production, purchase, and sale of pharmaceuticals and diagnostic reagents worldwide.

Fukuoka Financial Group

Market Cap: JP¥799.4b

Provides various banking services to individual and corporate customers.

Ricoh Company

Market Cap: JP¥756.2b

Engages in the provision of office, commercial printing, and related solutions worldwide.

Tosoh

Market Cap: JP¥749.2b

Manufactures and sells basic chemicals, petrochemicals, specialty products, and fine chemicals worldwide.

Yokohama Rubber Company

Market Cap: JP¥725.2b

Engages in the manufacture and sale of tires in Japan and internationally.

Acom

Market Cap: JP¥724.1b

Offers loans, credit cards, and loan guarantee services in Japan and internationally.

Kokusai Electric

Market Cap: JP¥716.8b

Engages in the development, manufacture, sale, repair, and maintenance of semiconductor manufacturing equipment worldwide.

Kobe Steel

Market Cap: JP¥686.6b

Engages in the materials, machinery, and electric power businesses worldwide.

Mitsui Chemicals

Market Cap: JP¥671.2b

Engages in the mobility, life and health care, basic and green materials, ICT, and other businesses worldwide.

Sumitomo Chemical Company

Market Cap: JP¥654.7b

Engages in Agro & Life Solutions, ICT & Mobility Solutions, Advanced Medical Solutions, Essential & Green Materials, and Sumitomo Pharma.

Brother Industries

Market Cap: JP¥647.8b

Manufactures and sells communications and printing equipment in Japan, the Americas, Europe, Asia, Oceania, the Middle East, Africa, and internationally.

Resonac Holdings

Market Cap: JP¥643.7b

Operates as a chemical company in Japan, China, rest of Asia, and internationally.

Sankyo

Market Cap: JP¥621.1b

Manufactures and sells game machines and ball bearing supply systems in Japan.

Canon Marketing Japan

Market Cap: JP¥620.5b

Canon Marketing Japan Inc. markets and sells Canon products and related solutions in Japan.

Seiko Epson

Market Cap: JP¥615.4b

Develops, manufactures, sells, and provides services for products in the printing solutions, visual communications, manufacturing-related and wearables, and other businesses.

Mazda Motor

Market Cap: JP¥612.6b

Engages in the manufacture and sale of passenger cars and commercial vehicles in Japan, the United States, North America, Europe, and internationally.

Credit Saison

Market Cap: JP¥606.6b

Provides leasing, finance, real estate, entertainment, global, and payment services in Japan and internationally.