Japanese Software Defensive Blue Chips

Anhui Conch Cement

Market Cap: CN¥126.1b

Manufactures, sells, and trades in clinker and cement products in China and internationally.

TS Financial Holding

Market Cap: NT$568.2b

Provides various financial products and services.

Telia Company

Market Cap: SEK 160.2b

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

Vodacom Group

Market Cap: R287.3b

Provides communications products and services.

British American Tobacco Zimbabwe (Holdings)

Market Cap: US$2.3b

Together with subsidiaries, manufactures, distributes, and sells cigarettes in Zimbabwe.

Kansai Electric Power Company

Market Cap: JP¥2.7t

Engages in electricity, gas and heat supply, and telecommunication and gas supply in Japan.

Airtel Africa

Market Cap: UK£12.8b

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

Banco Santander-Chile

Market Cap: CL$15.0t

Provides commercial and retail banking products and services in Chile.

JBS

Market Cap: US$17.3b

Operates as a protein and food company worldwide.

E.SUN Financial Holding Company

Market Cap: NT$541.8b

Offers various financial banking products and services in Taiwan.

Varun Beverages

Market Cap: ₹1.6t

Manufactures, bottles, sells, and distributes beverages and value-added products under the PepsiCo brands.

Bank of Baroda

Market Cap: ₹1.6t

Provides various banking products and services to individuals, government departments, and corporate customers in India and internationally.

HDFC Life Insurance

Market Cap: ₹1.6t

Provides individual and group insurance solutions in India.

Powszechny Zaklad Ubezpieczen

Market Cap: zł60.1b

Provides life and non-life insurance products and services in Poland, the Baltic States, and Ukraine.

Zimmer Biomet Holdings

Market Cap: US$17.0b

Operates as a medical technology company worldwide.

McCormick

Market Cap: US$17.0b

Manufactures, markets, and distributes herbs, spices, seasoning mixes, condiments, and other flavorful products to the food industry.

China Three Gorges Renewables (Group)Ltd

Market Cap: CN¥118.1b

China Three Gorges Renewables (Group) Co.,Ltd.

Wilmar International

Market Cap: S$21.4b

Operates as an agribusiness company in the People's Republic of China, South East Asia, India, Europe, Australia, New Zealand, Africa, and internationally.

Zegona Communications

Market Cap: UK£12.3b

Provides integrated telecommunications services in Spain.

National Bank of Greece

Market Cap: €14.1b

Provides financial products and services primarily in Greece, Cyprus, North Macedonia, Romania, Bulgaria, Luxembourg, the Netherlands, and the United Kingdom.

Hologic

Market Cap: US$16.8b

Engages in the development, manufacture, and supply of diagnostics products, medical imaging systems, and surgical products for women's health through early detection and treatment worldwide.

VeriSilicon Microelectronics (Shanghai)

Market Cap: CN¥116.2b

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

Tenet Healthcare

Market Cap: US$16.6b

Operates as a diversified healthcare services company in the United States.

Power Assets Holdings

Market Cap: HK$129.3b

An investment holding company, engages in the generation, transmission, and distribution of electricity in Hong Kong, the United Kingdom, Australia, and internationally.

Bank of Hangzhou

Market Cap: CN¥114.5b

Provides various banking products and services for individuals, corporate, and small and micro businesses in China.

Attijariwafa bank

Market Cap: د.م149.1b

Provides banking products and services for retail, professionals, corporates, and institutional clients in Africa, Europe, and the Middle East.

MACOM Technology Solutions Holdings

Market Cap: US$16.4b

Provides analog semiconductor solutions for use in wireless and wireline applications across the radio frequency (RF), microwave, millimeter wave, and lightwave spectrum.

Talen Energy

Market Cap: US$16.4b

An independent power producer and infrastructure company, produces and sells electricity, capacity, and ancillary services into wholesale power markets in the United States.

Santander Bank Polska

Market Cap: zł57.8b

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

Sonova Holding

Market Cap: CHF 12.6b

Manufactures and sells hearing care solutions for children and adults in Switzerland, the United States, rest of the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

Mediobanca Banca di Credito Finanziario

Market Cap: €13.7b

Provides various banking products and services in Italy, Other European countries, the United States, Asia, and internationally.

Raiffeisen Bank International

Market Cap: €13.7b

Offers banking services to corporate, private, and institutional customers.

NMBZ Holdings

Market Cap: US$2.1b

Provides various banking products and services to corporate and individual customers in Zimbabwe.

FinecoBank Banca Fineco

Market Cap: €13.6b

Provides banking, credit, trading and investment services in Italy.

Qatar Islamic Bank (Q.P.S.C.)

Market Cap: ر.ق59.3b

Provides corporate, retail, and investment banking products and services in Qatar and internationally.

Banco de Crédito e Inversiones

Market Cap: CL$14.0t

Provides various banking products and services in Chile, United States, and Peru.