Japanese Software Defensive Blue Chips

Chunghwa Telecom

Market Cap: NT$1.0t

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

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.

Ørsted

Market Cap: DKK 209.3b

Owns, develops, constructs, and operates offshore and onshore wind farms, solar farms, and energy storage and combined heat and power (CHP) plants.

Talanx

Market Cap: €28.0b

Provides insurance and reinsurance products and services worldwide.

Japan Post Holdings

Market Cap: JP¥5.1t

Provides postal, banking, and insurance services in Japan.

Intact Financial

Market Cap: CA$44.6b

Through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, and internationally.

Chocoladefabriken Lindt & Sprüngli

Market Cap: CHF 25.7b

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

Huntington Bancshares

Market Cap: US$31.9b

Operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services.

Ping An Bank

Market Cap: CN¥218.7b

Provides commercial banking products and services for individual and corporate customers, government agencies, institutions, and other small businesses in China and internationally.

AST SpaceMobile

Market Cap: US$31.7b

Designs and develops the constellation of BlueBird satellites in the United States.

Imperial Brands

Market Cap: UK£23.8b

Manufactures, imports, markets, and sells tobacco and tobacco-related products in Europe, the Americas, Africa, the Asia, Australasia, and internationally.

Seven & i Holdings

Market Cap: JP¥5.0t

Operates convenience stores, superstores, and department stores in Japan, North America, and internationally.

Grupo Financiero Banorte. de

Market Cap: Mex$559.8b

Through its subsidiaries, engages in the provision of banking and financial products and services in Mexico and internationally.

Swiss Life Holding

Market Cap: CHF 24.6b

Provides life, pensions, and financial solutions for private and corporate clients.

Bank Hapoalim B.M

Market Cap: ₪96.2b

Provides various banking and financial services in Israel, North America, Europe, and internationally.

M&T Bank

Market Cap: US$30.7b

Operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that provides retail and commercial banking products and services in the United States.

Amrize

Market Cap: CHF 24.6b

Engages in the provision of various building solutions for infrastructure, commercial, and residential construction markets in North America.

STMicroelectronics

Market Cap: €26.6b

Designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

Power Corporation of Canada

Market Cap: CA$42.5b

An international management and holding company, provides financial services in North America, Europe, and Asia.

Atmos Energy

Market Cap: US$30.6b

Engages in the regulated natural gas distribution, and pipeline and storage businesses in the United States.

Avenue Supermarts

Market Cap: ₹2.8t

Engages in the business of organized retail and operating supermarkets under the D-Mart brand name in India.

Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna

Market Cap: zł111.8b

Provides various banking products and services in Poland and internationally.

CEZ a. s

Market Cap: Kč638.3b

Engages in the generation, distribution, trade, and sale of electricity, heat, thermal energy and other commodities in Western, Central, and Southeastern Europe.

OTP Bank Nyrt

Market Cap: Ft9.9t

Provides commercial banking services to individuals, municipalities, corporations, and enterprises.

Hang Seng Bank

Market Cap: US$29.6b

Provides various banking and related financial services to individual, corporate, commercial, and small and medium sized enterprise customers in Hong Kong, Mainland China, and internationally.

Bank Rakyat Indonesia (Persero)

Market Cap: Rp500.0t

Provides various banking products and services in Indonesia and internationally.

Standard Bank Group

Market Cap: R499.6b

Provides financial products and services in South Africa and internationally.

Bank of Ningbo

Market Cap: CN¥201.1b

Provides various personal and business banking products and services in the People's Republic of China.

Power Grid Corporation of India

Market Cap: ₹2.7t

An electric power transmission utility, engages in the power transmission business in India and internationally.

Bank of Jiangsu

Market Cap: CN¥199.7b

Provides various banking products and services in China.

Capitec Bank Holdings

Market Cap: R491.1b

Through its subsidiaries, provides various banking products and services in South Africa.

Veeva Systems

Market Cap: US$28.7b

Provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America.

Shinhan Financial Group

Market Cap: ₩43.5t

Provides financial products and services in South Korea, Vietnam, and Japan.

Fresenius SE KGaA

Market Cap: €24.8b

A health care company, provides products and services for chronically ill patients in North America, Europe, the Asia-Pacific, Latin America, and Africa.

Shenzhen Mindray Bio-Medical Electronics

Market Cap: CN¥196.4b

Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

Sampo Oyj

Market Cap: €24.4b

Provides non-life insurance products and services in Finland, Sweden, Norway, Denmark, Estonia, Lithuania, Latvia, Spain, Gibraltar, Germany, the Netherlands, France, and the United Kingdom.