Japanese Telecom Defensive Blue Chips

Shanghai United Imaging Healthcare

Market Cap: CN¥93.5b

Shanghai United Imaging Healthcare Co., Ltd.

Reinsurance Group of America

Market Cap: US$13.8b

Provides life and health, and asset-intensive reinsurance in the United States, Latin America, Canada, Europe, the Middle East, Africa, Asia, and Australia.

Mashreqbank PSC

Market Cap: د.إ50.6b

Provides various banking and financial services to individuals and corporates.

Tele2

Market Cap: SEK 129.6b

Provides fixed and mobile connectivity and entertainment services in Sweden, Lithuania, Latvia, and Estonia.

Uni-President Enterprises

Market Cap: NT$434.7b

Engages in the manufacture and sale of beverages and instant noodles in Taiwan, China, and Southeast Asia.

James Hardie Industries

Market Cap: AU$19.5b

Engages in the manufacture and sale of fiber cement, fiber gypsum, and cement bonded boards in the United States, Australia, Europe, and New Zealand.

Beijing YanDong MicroElectronic

Market Cap: CN¥92.5b

Beijing YanDong MicroElectronic Co., Ltd.

Carrefour

Market Cap: €11.8b

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

Asahi Group Holdings

Market Cap: JP¥2.2t

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

Tryg

Market Cap: DKK 88.2b

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.

Union Bank of India

Market Cap: ₹1.3t

Provides banking products and services in India.

Kirin Holdings Company

Market Cap: JP¥2.2t

Engages in food and beverages, alcoholic beverages, pharmaceuticals, and health science businesses.

Hormel Foods

Market Cap: US$13.6b

Develops, processes, and distributes various meat, nuts, and other food products to foodservice, convenience store, and commercial customers in the United States and internationally.

Gjensidige Forsikring

Market Cap: NOK 129.3b

Provides general insurance and pension products in Norway, Sweden, Denmark, Finland, Latvia, Lithuania, and Estonia.

Fisher & Paykel Healthcare

Market Cap: NZ$23.2b

Designs, manufactures, markets, and sells medical device products and systems in North America, Europe, the Asia Pacific, and internationally.

Origin Energy

Market Cap: AU$19.1b

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.

Hwatsing Technology

Market Cap: CN¥90.9b

Engages in the research, development, production, sales, and technical services of semiconductor equipment in China and internationally.

Everest Group

Market Cap: US$13.4b

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

Osaka Gas

Market Cap: JP¥2.1t

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

DaVita

Market Cap: US$13.4b

Provides kidney dialysis services for patients suffering from chronic kidney failure in the United States.

Coloplast

Market Cap: DKK 86.2b

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

Chubu Electric Power Company

Market Cap: JP¥2.1t

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

Cooper Companies

Market Cap: US$13.2b

Develops, manufactures, and markets contact lens wearers.

BrightSpring Health Services

Market Cap: US$13.2b

Operates as a home and community-based healthcare services platform in the United States.

McCormick

Market Cap: US$13.2b

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

Insurance Australia Group

Market Cap: AU$18.7b

Insurance Australia Group Limited underwrites general insurance products and provides investment management services in Australia and New Zealand.

Tokyo GasLtd

Market Cap: JP¥2.1t

Engages in the production, supply, and sale of city gas and LNG in Japan.

United Utilities Group

Market Cap: UK£9.8b

Provides water and wastewater services in the United Kingdom.

Britannia Industries

Market Cap: ₹1.2t

Manufactures and sells various food products in India and internationally.

GlobalWafers

Market Cap: NT$413.1b

Researches, develops, designs, manufactures and sells semiconductor ingots/wafers in Taiwan and internationally.

China Resources Power Holdings

Market Cap: HK$101.5b

An investment holding company, invests in, develops, operates, and manages power plants and coal mine projects in the People’s Republic of China.

Globe Life

Market Cap: US$12.9b

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

Kokusai Electric

Market Cap: JP¥2.1t

Engages in the development, manufacture, sale, repair, and maintenance of semiconductor manufacturing equipment worldwide.

Assurant

Market Cap: US$12.9b

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

Punjab National Bank

Market Cap: ₹1.2t

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

Jerónimo Martins SGPS

Market Cap: €11.2b

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