Japanese Software Defensive Blue Chips

East West Bancorp

Market Cap: US$16.1b

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.

Varun Beverages

Market Cap: ₹1.5t

Manufactures, bottles, sells, and distributes beverages under the PepsiCo brands in India, Sri Lanka, Nepal, Zambia, Morocco, Zimbabwe, the Democratic Republic of Congo, Mozambique, South Africa, Lesotho, Eswatini, Namibia, and Botswana.

Emirates Islamic Bank PJSC

Market Cap: د.إ58.9b

Provides banking products and services financing and investing instruments in the United Arab Emirates and internationally.

Banco de Crédito e Inversiones

Market Cap: CL$14.2t

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

National Bank of Greece

Market Cap: €13.5b

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

Eastroc Beverage (Group)

Market Cap: CN¥108.6b

Engages in the manufacturing and distribution of beverages in the People’s Republic of China.

Hua Nan Financial Holdings

Market Cap: NT$501.7b

Provides financial services in Taiwan and internationally.

Grupo Financiero Inbursa. de

Market Cap: Mex$273.1b

Provides various financial products and services to individuals and businesses in Mexico.

Bankinter

Market Cap: €13.4b

Provides various banking products and services to individuals, corporates, and small- and medium-sized enterprises in Spain, Luxembourg, Portugal, and Ireland.

Banco Comercial Português

Market Cap: €13.4b

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

SDIC Power Holdings

Market Cap: CN¥107.1b

Engages in the electricity generation business in China.

FinecoBank Banca Fineco

Market Cap: €13.2b

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

Jerónimo Martins SGPS

Market Cap: €13.2b

Operates in the food distribution sector in Portugal, Poland, Colombia, Slovakia, and internationally.

Bank of Baroda

Market Cap: ₹1.4t

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

Coloplast

Market Cap: DKK 97.7b

Engages in the development and sale of intimate healthcare products and services in Denmark, the United States, the United Kingdom, France, and internationally.

Union Bank of India

Market Cap: ₹1.4t

Provides banking products and services in India.

ASR Nederland

Market Cap: €13.0b

Provides insurance, pensions, and mortgages products and services for consumers, businesses, and employers in the Netherlands.

Attijariwafa bank

Market Cap: د.م141.7b

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

Everest Group

Market Cap: US$15.3b

Together with subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally.

SCB X

Market Cap: ฿489.9b

Engages in the banking, consumer and digital finance, and platform and technology businesses in Thailand and internationally.

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

Market Cap: ر.ق55.6b

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

SinoPac Financial Holdings

Market Cap: NT$482.6b

Through its subsidiaries, provides banking services worldwide.

Brookfield Wealth Solutions

Market Cap: US$15.2b

Through its subsidiaries, provides retirement services, wealth protection products, and capital solutions to individuals and institutions.

Phoenix Financial

Market Cap: ₪45.5b

Provides multi-line insurance products in Israel.

Amkor Technology

Market Cap: US$15.2b

Provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, and the Asia Pacific.

Lattice Semiconductor

Market Cap: US$15.2b

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

Asahi Group Holdings

Market Cap: JP¥2.4t

Manufactures and sells beer, alcohol and non-alcohol beverages, and food products in Japan, Europe, Oceania, and Southeast Asia.

Mapfre

Market Cap: €12.8b

Engages in insurance, reinsurance, and financial activities in Spain.

mBank

Market Cap: zł54.3b

Provides various banking and financial services in Poland, the Czech Republic, Slovakia, and internationally.

Adani Energy Solutions

Market Cap: ₹1.4t

Generates, transmits, and distributes power in India.

ageas

Market Cap: €12.7b

Engages in insurance business.

Huaneng Power International

Market Cap: HK$117.8b

Generates and sells electric power to the regional or provincial grid companies in the People’s Republic of China and internationally.

Osaka Gas

Market Cap: JP¥2.4t

Provides gas, electricity, and other energy products and services in Japan and internationally.

Tryg

Market Cap: DKK 95.1b

Engages in the provision of insurance products and services to private, small and medium sized commercial, and corporate customers in Denmark, the United States, rest of Nordic, Luxembourg, the United Kingdom, and internationally.

Origin Energy

Market Cap: AU$21.0b

An integrated energy company, engages in the exploration and production of natural gas, electricity generation, wholesale and retail sale of electricity and gas, and sale of liquefied natural gas in Australia and internationally.

Hippo Valley Estates

Market Cap: US$1.9b

Together with its subsidiary, Chiredzi Township (Private) Limited, engages in the growing and milling of sugar cane in Zimbabwe and internationally.