Japanese Undervalued over 20% based on DCF

Toda

Market Cap: JP¥429.9b

Primarily engages in the construction and civil engineering businesses in Japan and internationally.

ZENKOKU HOSHOLtd

Market Cap: JP¥424.2b

Engages in the credit guarantee business in Japan.

Hisamitsu Pharmaceutical

Market Cap: JP¥423.8b

Manufactures and sells pharmaceuticals in Japan.

Taiheiyo Cement

Market Cap: JP¥412.6b

Engages in the cement, mineral resources, environmental, construction materials, and other businesses in Japan and internationally.

Nissui

Market Cap: JP¥406.4b

Engages in marine, food products, fine chemicals, distribution, and marine-related/engineering businesses in Japan and internationally.

Japan Hotel REIT Investment

Market Cap: JP¥400.1b

Japan Hotel REIT Investment Corporation (JHR) was established under the Act on Investment Trusts and Investment Corporations.

Mizuho Leasing Company

Market Cap: JP¥400.1b

Engages in the provision of general leasing services in Japan and internationally.

Miura

Market Cap: JP¥397.8b

Produces and sells boilers in Japan and internationally.

Kakaku.com

Market Cap: JP¥393.7b

Provides purchase support, restaurant review, and other services in Japan.

Sharp

Market Cap: JP¥392.4b

Manufactures and sells telecommunication equipment, electric and electronic application equipment, and electronic components in Japan, the United States, China, rest of Asia, and internationally.

Resorttrust

Market Cap: JP¥389.6b

Engages in the hotel and restaurant business in Japan.

TORIDOLL Holdings

Market Cap: JP¥377.4b

Through its subsidiaries, operates and manages restaurants in Japan and internationally.

DMG Mori

Market Cap: JP¥376.5b

Manufactures and sells machine tools worldwide.

Ezaki Glico

Market Cap: JP¥374.1b

Produces and sells confectionery, health and food, dairy products, and food ingredients in Japan, China, Southeast Asia, the United States, and internationally.

Shikoku Electric Power Company

Market Cap: JP¥373.8b

Shikoku Electric Power Company engages in generating, transmitting, distributing, and selling electricity in Japan and internationally.

Aozora Bank

Market Cap: JP¥371.8b

Provides various banking products and services in Japan and internationally.

C.UyemuraLtd

Market Cap: JP¥370.5b

Engages in the research, development, manufacture, and sale of surface treatment chemicals and machinery in Japan, Taiwan, China, and internationally.

Dai-Dan

Market Cap: JP¥368.6b

Engages in the design, supervision, and construction of electrical, air conditioning, water hygiene, and firefighting facilities works and machinery in Japan.

Toei Company

Market Cap: JP¥366.2b

A content company, engages in the production and distribution of movies, television (TV) shows, and other video products in Japan.

Yamada Holdings

Market Cap: JP¥360.2b

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

DIC

Market Cap: JP¥357.5b

Manufactures and sells printing inks, organic pigments, and synthetic resins worldwide.

Kusuri No Aoki Holdings

Market Cap: JP¥355.4b

Engages in the retail of pharmaceutical, cosmetic, and daily good products in Japan.

TVhi Holdings

Market Cap: JP¥336.8b

Engages in the television (TV) broadcasting business in Japan and internationally.

LINTEC

Market Cap: JP¥331.3b

Manufactures and sells adhesive-related products in Japan.

MIRAIT ONE

Market Cap: JP¥330.2b

Engages in the telecommunications construction, electrical construction, civil engineering work, and architectural and construction businesses in Japan.

AEON Financial Service

Market Cap: JP¥328.9b

Through its subsidiaries, provides various financial services in Japan.

Denka

Market Cap: JP¥328.5b

Manufactures and sells organic and inorganic, electronic material, pharmaceutical, and resin-related products in Japan, rest of Asia, and internationally.

Socionext

Market Cap: JP¥315.7b

Designs, develops, manufactures, and sells system-on-chip (SoC), and solutions/services centering on SoC worldwide.

Nippon Gas

Market Cap: JP¥314.9b

Engages in the supply and sale of LP gas and natural gas in Japan.

Inaba Denki SangyoLtd

Market Cap: JP¥312.3b

Sells electrical equipment and materials, industrial automation, and proprietary products in Japan and internationally.

Fuji Oil

Market Cap: JP¥311.9b

Manufactures and sells food and processed soybean ingredients in Japan, the Americas, Europe, Southeast Asia, and China.

Toho Holdings

Market Cap: JP¥306.2b

Engages in the wholesale distribution of pharmaceutical products in Japan.

Goldwin

Market Cap: JP¥306.1b

Researches, develops, manufactures, and sells apparel in Japan.

Bic Camera

Market Cap: JP¥302.7b

Engages in the manufacture and sale of audiovisual products in Japan.

Relo Group

Market Cap: JP¥294.1b

Engages in the provision of property management services in Japan.

Paltac

Market Cap: JP¥290.6b

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