Japanese Mid-Large Cap Stocks

Hoshino Resorts REIT

Market Cap: JP¥158.4b

Hoshino Resorts REIT, Inc. (hereinafter, “HRR”) invests in hotels, ryokans (Japanese-style inns) and ancillary facilities that serve at the core of the tourism industry and for which stable use is expected for the medium to long term.

Daiwa Securities Group

Market Cap: JP¥1.7t

Operates in the financial and capital markets in Japan and internationally.

77 Bank

Market Cap: JP¥441.0b

Provides banking products and services to corporate and individual customers in Japan.

KandenkoLtd

Market Cap: JP¥849.9b

Engages in electrical and piping work, and other facility construction work in Japan and internationally.

GLP J-REIT

Market Cap: JP¥676.5b

A real estate investment corporation (“J-REIT”) specializing in logistics facilities, and it primarily invests in modern logistics facilities.

Frontier Real Estate Investment

Market Cap: JP¥244.0b

Frontier Real Estate Investment Corporation (the “Investment Corporation”) was established pursuant to the Investment Trust and Investment Corporation Act of Japan (Act No.

Kakaku.com

Market Cap: JP¥494.1b

Engages in the provision of purchase support, restaurant review, and other services in Japan.

Sakata Seed

Market Cap: JP¥154.8b

Produces and sells vegetable and flower seeds, bulbs, plants, and agricultural and horticultural supplies in Japan and internationally.

Kaga ElectronicsLtd

Market Cap: JP¥184.7b

Sells electronics parts, semiconductors, PCs, and peripherals in Japan, North America, Europe, and Asia.

Tokyo Kiraboshi Financial Group

Market Cap: JP¥217.9b

Provides financial services for small and medium-sized enterprise in Japan.

Alps Alpine

Market Cap: JP¥372.5b

Manufactures and sells electronic components in Japan, China, the United States, South Korea, and internationally.

Otsuka

Market Cap: JP¥1.2t

Operates as an information technology (IT) platformer in Japan.

Toyo Seikan Group Holdings

Market Cap: JP¥495.1b

Manufactures and sells packaging containers in Japan and internationally.

Hakuhodo DY Holdings

Market Cap: JP¥426.7b

Provides marketing and communications services in Japan and internationally.

ZOZO

Market Cap: JP¥1.2t

Operates online shopping Websites in Japan and internationally.

Tokyo Tatemono

Market Cap: JP¥625.9b

Operates as a real estate company in Japan.

Nippon Soda

Market Cap: JP¥185.5b

Develops, produces, processes, imports, markets, sells, and exports chemicals, agrochemicals, and other products in Japan and internationally.

Bank of Nagoya

Market Cap: JP¥168.9b

Provides various banking, financial leasing, and credit card services in Japan.

Yodoko

Market Cap: JP¥190.3b

Yodogawa Steel Works, Ltd. engages in the manufacture and sales of steel products for industrial and consumer products in Japan.

Taiyo Holdings

Market Cap: JP¥437.0b

Engages in the electronics materials business worldwide.

Sanki Engineering

Market Cap: JP¥259.3b

Provides various social infrastructure services in Japan and internationally.

Nippon Kayaku

Market Cap: JP¥214.1b

Engages in mobility and imaging, fine chemicals, and life sciences businesses in Japan.

Air Water

Market Cap: JP¥583.7b

Engages in the manufacturing and sale of products and services related to industrial gas, chemical, medical, energy, agriculture and food products, logistics, seawater, and other businesses in Japan.

Kraftia

Market Cap: JP¥507.6b

Engages in design, construction, and installation of power infrastructure construction business in Japan.

Terumo

Market Cap: JP¥3.8t

Engages in the manufacture and sale of medical products and equipment in Japan, Europe, China, the United States, Asia, and internationally.

Niterra

Market Cap: JP¥1.2t

Manufactures and sells spark plugs and related products for internal-combustion engines and technical ceramics in Japan and internationally.

Mitsubishi Gas Chemical Company

Market Cap: JP¥543.8b

Manufactures and sells basic and fine chemicals, and functional materials in Japan.

C.UyemuraLtd

Market Cap: JP¥197.8b

Researches, develops, manufactures, and sells plating chemicals, industrial chemicals, non-ferrous metals, and other products in Japan and internationally.

Nankai Electric Railway

Market Cap: JP¥303.5b

Operates as a railway company in Japan.

MEGMILK SNOW BRANDLtd

Market Cap: JP¥178.3b

Manufactures and sells milk, milk products, and other food products in Japan and internationally.

Marubeni

Market Cap: JP¥6.4t

Marubeni Corporation purchases, distributes, and markets industrial and consumer goods.

DIC

Market Cap: JP¥350.3b

Manufactures and sells printing inks, organic pigments, and synthetic resins worldwide.

AS ONE

Market Cap: JP¥179.8b

Engages in the sale of research instruments and equipment, nursing and care products, and other scientific instruments in Japan and internationally.

Ricoh Leasing Company

Market Cap: JP¥179.4b

Engages in leasing, investment, and financial service businesses in Japan.

Amada

Market Cap: JP¥590.7b

Manufactures and sells metalworking machinery, software, and peripheral equipment in Japan, North America, Europe, Asia, and internationally.

TIS

Market Cap: JP¥1.1t

Provides information technology (IT) services in Japan and internationally.