Japanese Software Defensive Blue Chips

Mizrahi Tefahot Bank

Market Cap: ₪58.4b

Provides various banking services in Israel and internationally.

Cellnex Telecom

Market Cap: €16.7b

Engages in the management of terrestrial telecommunications infrastructures in France, Italy, the United Kingdom, Spain, Poland, the Netherlands, Portugal, Switzerland, Denmark, Sweden, Ireland, and Austria.

Telecom Italia

Market Cap: €16.7b

Engages in the fixed and mobile telecommunications services and products for individuals, households, and supports small and medium-sized enterprises in Italy and internationally.

Luzhou LaojiaoLtd

Market Cap: CN¥129.1b

Produces and sells alcoholic products in China and internationally.

Telenor

Market Cap: NOK 183.3b

Operates as a telecommunication company worldwide.

SBI Life Insurance

Market Cap: ₹1.8t

Operates as a private life insurance company in India.

Koninklijke KPN

Market Cap: €16.5b

Provides telecommunications and information technology (IT) services in the Netherlands.

Telia Company

Market Cap: SEK 181.9b

Provides communication services to businesses, individuals, families, and communities in Sweden, Finland, Norway, Denmark, Lithuania, Estonia, and Latvia.

Bank of Ireland Group

Market Cap: €16.5b

Provides banking and other financial services in the Republic of Ireland, the United Kingdom, and internationally.

CEMEX. de

Market Cap: Mex$329.3b

Engages in the production, marketing, distribution, and sale of cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide.

Pernod Ricard

Market Cap: €16.4b

Produces and sells wines and spirits worldwide.

Wilmar International

Market Cap: S$24.2b

Operates as an agribusiness company in Singapore, the People's Republic of China, Indonesia, Malaysia, Australia, Europe, South Africa, Nigeria, Vietnam, India, and internationally.

GlobalWafers

Market Cap: NT$604.8b

Researches, develops, designs, manufactures and sells semiconductor ingots/wafers in Taiwan and internationally.

OmniVision Integrated Circuits Group

Market Cap: CN¥125.3b

Engages in the design, development, and sale of integrated circuits and computer software and hardware in China and internationally.

Wilson Bank Holding

Market Cap: US$18.4b

Operates as the bank holding company for Wilson Bank and Trust that provides various banking services to consumers, professionals, small businesses, and municipalities in the United States.

East West Bancorp

Market Cap: US$18.4b

Operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States.

Vodacom Group

Market Cap: R303.3b

Provides communications products and services in South Africa, Egypt, Kenya, and internationally.

IHH Healthcare Berhad

Market Cap: RM 75.1b

An investment holding company, provides healthcare services in Singapore, Malaysia, India, Greater China, Japan, Türkiye and Europe, and internationally.

Commercial Bank for Foreign Trade of Vietnam

Market Cap: ₫473.8t

Provides banking products and services in Vietnam.

E.SUN Financial Holding Company

Market Cap: NT$579.8b

Offers various financial banking products and services in Taiwan.

Banco de Sabadell

Market Cap: €15.6b

Provides banking products and services in Spain, the United Kingdom, and Mexico.

SinoPac Financial Holdings

Market Cap: NT$575.3b

Through its subsidiaries, provides banking services worldwide.

Saudi Awwal Bank

Market Cap: ر.س66.7b

Provides banking and financial services in the Kingdom of Saudi Arabia.

Federal Home Loan Mortgage

Market Cap: US$17.7b

Operates in the secondary mortgage market in the United States.

SDIC Power Holdings

Market Cap: CN¥119.7b

Engages in the electricity generation business in China.

Erste Bank Polska

Market Cap: zł67.0b

Provides various banking products and services for individuals, small or medium-sized enterprises, corporate clients, and public sector institutions.

Zimmer Biomet Holdings

Market Cap: US$17.6b

Operates as a medical technology company worldwide.

Krung Thai Bank

Market Cap: ฿590.5b

Engages in commercial banking business in Thailand and internationally.

Performance Food Group

Market Cap: US$17.6b

Through its subsidiaries, engages in the marketing and distribution of food and food-related products in North America.

VeriSilicon Microelectronics (Shanghai)

Market Cap: CN¥118.3b

Provides platform-based custom silicon and semiconductor IP licensing services in China and internationally.

Banco Comercial Português

Market Cap: €15.2b

Engages in the provision of various banking and financial products and services in Portugal and internationally.

Elia Group

Market Cap: €15.2b

Develops and operates as a transmission system operator in Belgium and Germany.

Hua Nan Financial Holdings

Market Cap: NT$555.3b

Provides financial services in Taiwan and internationally.

Lattice Semiconductor

Market Cap: US$17.2b

Develops and sells semiconductor, silicon-based and silicon-enabling, evaluation boards, and development hardware products in Asia, Europe, and the Americas.

BIWIN Storage Technology

Market Cap: CN¥115.1b

Engages in the research and development, design, packaging, testing, production, and sales of semiconductor memory.

Airtel Africa

Market Cap: UK£12.6b

Provides telecommunications and mobile money services in Nigeria, East Africa, and Francophone Africa.