Japanese Software Defensive Blue Chips

Mowi

Market Cap: NOK 113.4b

A seafood company, produces and sells Atlantic salmon products worldwide.

First Horizon

Market Cap: US$11.8b

Operates as the bank holding company for First Horizon Bank that provides various financial services.

Komercní banka

Market Cap: Kč237.8b

Provides various retail, corporate, and investment banking services primarily in the Czech Republic, and Central and Eastern Europe.

King Yuan Electronics

Market Cap: NT$366.8b

Engages in the designing, manufacturing, selling, testing, and assembly service of integrated circuits.

Assurant

Market Cap: US$11.7b

Provides protection services to connected devices, homes, and automobiles in North America, Latin America, Europe, and the Asia Pacific.

Carrefour

Market Cap: €9.8b

Operates as a food retailer in France, Spain, Italy, Belgium, Poland, Romania, Brazil, Argentina, the Middle East, Africa, and Asia.

Centrica

Market Cap: UK£8.5b

Operates as an integrated energy company in the United Kingdom, Ireland, Scandinavia, North America, and internationally.

Beijing E-Town Semiconductor Technology

Market Cap: CN¥81.0b

Beijing E-Town Semiconductor Technology Co., Ltd.

Banque Cantonale Vaudoise

Market Cap: CHF 8.9b

Engages in the provision of various financial services in Vaud Canton and rest of Switzerland, the European Union, North America, and internationally.

Tongfu MicroelectronicsLtd

Market Cap: CN¥80.8b

Provides integrated circuit (IC) encapsulation test services in China and internationally.

Vodafone Idea

Market Cap: ₹1.1t

Provides mobile telecommunication services in India.

Aegon

Market Cap: €9.7b

Provides insurance, pensions, retirement, and asset management services in the Americas, the Netherlands, the United Kingdom, and internationally.

Shanghai Rural Commercial Bank

Market Cap: CN¥80.2b

Engages in commercial banking business in China.

HANMI Semiconductor

Market Cap: ₩16.6t

Manufactures and sells semiconductor equipment in South Korea and internationally.

Orkla

Market Cap: NOK 110.9b

Operates as an industrial investment company within brands and consumer-oriented businesses in Norway, Sweden, Denmark, Finland, Iceland, the Baltics, rest of Europe, and internationally.

GAIL (India)

Market Cap: ₹1.1t

Operates as a natural gas processing and distribution company in India and internationally.

Lattice Semiconductor

Market Cap: US$11.4b

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

China Taiping Insurance Holdings

Market Cap: HK$89.0b

An investment holding company, underwrites various insurance and reinsurance products in the People’s Republic of China, Hong Kong, Macau, Singapore, and internationally.

IDBI Bank

Market Cap: ₹1.0t

Provides banking and financial solutions to retail and corporate customers in India.

TIM

Market Cap: R$58.9b

A telecommunications company, provides mobile, fixed, long-distance, data transmission, and broadband services in Brazil.

iA Financial

Market Cap: CA$15.4b

Provides insurance and wealth management services for individual and group basis in Canada and the United States.

National Silicon Industry Group

Market Cap: CN¥78.7b

National Silicon Industry Group Co., Ltd.

Alpha Bank

Market Cap: €9.4b

Provides various banking and financial products and services in Greece and internationally.

Vietnam Commercial Bank for Industry and Trade

Market Cap: ₫297.1t

Provides various banking products and services to individuals, businesses, and organizations in Vietnam and internationally.

HKT Trust and HKT

Market Cap: HK$88.0b

An investment holding company, engages in the provision of technology, and satellite-and network-based telecommunications and related services in Hong Kong, Mainland China, and internationally.

Guobo Electronics

Market Cap: CN¥78.3b

Engages in the research and development, production, and sale of active phased array transmitter and receiver components and radio frequency integrated circuit related products in China.

Manila Electric

Market Cap: ₱658.2b

Manila Electric Company holds a congressional franchise to construct, operate, and maintain an electric distribution system in the Philippines.

Adani Energy Solutions

Market Cap: ₹1.0t

Generates, transmits, and distributes power in India.

Admiral Group

Market Cap: UK£8.1b

A financial services company, provides insurance and personal lending products in the United Kingdom, France, Italy, Spain, and the United States.

Japan Post Insurance

Market Cap: JP¥1.7t

Provides life insurance products and services in Japan.

Global Unichip

Market Cap: NT$346.4b

Engages in the research and development, production, testing, and sale of embedded memory and logic components, analog components, cell libraries, and EDA tools for various IC applications.

SBI Shinsei Bank

Market Cap: JP¥1.7t

Provides banking and financial products and services to individual customers, corporations, public-sector entities, and financial institutions in Japan.

Globe Life

Market Cap: US$11.0b

Through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States.

Chubu Electric Power Company

Market Cap: JP¥1.7t

Engages in the generation, transmission, distribution, and retail of electricity in Japan and internationally.

China Zheshang Bank

Market Cap: HK$85.2b

Provides various commercial banking products and services in Mainland China.

Enel Américas

Market Cap: CL$9.3t

Generates, transmits, and distributes electricity in Brazil, Colombia, Central America, Argentina, and Peru.