Japanese Software Defensive Blue Chips

MS&AD Insurance Group Holdings

Market Cap: JP¥6.0t

An insurance holding company, engages in the provision of insurance and financial services worldwide.

Kotak Mahindra Bank

Market Cap: ₹3.5t

Provides a range of banking and financial services to corporate and individual customers in India.

Hannover Rück

Market Cap: €32.3b

Provides reinsurance products and services in Germany, the United Kingdom, France, Europe, the United States, Asia, Australia, Africa, and internationally.

Hartford Insurance Group

Market Cap: US$37.1b

Provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally.

Dubai Electricity and Water Authority (PJSC)

Market Cap: د.إ134.5b

Generates, transmits, and distributes electricity for residential, commercial, industrial, and government customers primarily in Dubai.

Heidelberg Materials

Market Cap: €31.5b

Produces and distributes cement, aggregates, ready-mixed concrete, and asphalt worldwide.

Alcon

Market Cap: CHF 28.9b

Researches, develops, manufactures, distributes, and sells eye care products worldwide.

ASM International

Market Cap: €31.1b

Engages in the research, development, manufacturing, marketing, and servicing of equipment and materials used to produce semiconductor devices in the United States, Europe, and Asia.

Skandinaviska Enskilda Banken

Market Cap: SEK 337.4b

Provides corporate, retail, investment, and private banking services.

ACWA Power

Market Cap: ر.س133.2b

Engages in the investment, development, operation, and maintenance of power generation, water desalination, and green hydrogen production plants in the Kingdom of Saudi Arabia, the Middle East, Asia, and Africa.

MetaX Integrated Circuits (Shanghai)

Market Cap: CN¥240.9b

MetaX Integrated Circuits (Shanghai) Co., Ltd.

Vulcan Materials

Market Cap: US$34.9b

Produces and supplies construction aggregates in the United States.

Fomento Económico Mexicano. de

Market Cap: Mex$621.7b

Through its subsidiaries, operates as a franchise bottler of Coca-Cola trademark beverages worldwide.

Martin Marietta Materials

Market Cap: US$34.6b

A natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally.

Archer-Daniels-Midland

Market Cap: US$34.6b

Provides human and animal nutrition ingredients and solutions in the United States, Switzerland, the Cayman Islands, Brazil, Mexico, Canada, the United Kingdom, and internationally.

Vodafone Group

Market Cap: UK£26.1b

Provides telecommunication services in Germany, the United Kingdom, rest of Europe, Turkey, and South Africa.

Prudential

Market Cap: UK£26.1b

Through its subsidiaries, provides life and health insurance, and asset management solutions to individuals in Asia and Africa.

Foshan Haitian Flavouring and Food

Market Cap: CN¥236.9b

Foshan Haitian Flavouring and Food Company Ltd.

Sun Life Financial

Market Cap: CA$47.8b

A financial services company, provides asset management, wealth, insurance and health solutions to individual and institutional customers in Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia, and Bermuda.

Muyuan Foods

Market Cap: CN¥235.3b

Operates as a pork company in the hog farming industry in China.

British American Tobacco Zimbabwe (Holdings)

Market Cap: US$4.4b

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

QNB Bank

Market Cap: ₺1.5t

Provides various banking and financial services in Turkey.

Advanced Info Service

Market Cap: ฿1.1t

Operates as a telecommunications company primarily in Thailand.

Malayan Banking Berhad

Market Cap: RM 137.2b

Provides commercial banking and related financial products and services.

Arch Capital Group

Market Cap: US$33.9b

Provides insurance, reinsurance, and mortgage insurance products in the United States, Canada, Bermuda, the United Kingdom, Europe, and Australia.

Sompo Holdings

Market Cap: JP¥5.4t

Provides property and casualty insurance services in Japan and internationally.

UltraTech Cement

Market Cap: ₹3.2t

Engages in the manufacture and sale of clinker, cement, ready mix concrete, and related products in India, the United Arab Emirates, Bahrain, and Sri Lanka.

Sysco

Market Cap: US$33.1b

Through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally.

Aeon

Market Cap: JP¥5.2t

Operates in the retail industry in Japan, China, ASEAN countries, and internationally.

Bank Leumi le-Israel B.M

Market Cap: ₪103.2b

Provides banking and financial services for households, small and medium enterprises, and corporations in Israel, the United Kingdom, and internationally.

Chocoladefabriken Lindt & Sprüngli

Market Cap: CHF 26.1b

Engages in the development, manufacture, and sale of chocolate products worldwide.

Microchip Technology

Market Cap: US$32.5b

Develops, manufactures, and sells smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia.

GE HealthCare Technologies

Market Cap: US$32.5b

Engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally.

KB Financial Group

Market Cap: ₩48.9t

Provides various banking and related financial services to consumers and corporations in South Korea, the United States, New Zealand, China, Cambodia, the United Kingdom, Indonesia, and internationally.

Chunghwa Telecom

Market Cap: NT$1.0t

Operates as an integrated telecommunications service provider in Taiwan and internationally.

Cathay Financial Holding

Market Cap: NT$1.0t

Through its subsidiaries, provides various financial products and services in Taiwan, rest of Asia, and internationally.