Global Materials Low Leverage High Rewards

Surya Roshni

Market Cap: ₹57.9b

Manufactures and sells steel pipes and strips, and lighting and consumer durables in India.

Bhansali Engineering Polymers

Market Cap: ₹24.3b

Operates a petrochemical company in India and internationally.

Narmada Gelatines

Market Cap: ₹2.5b

Manufactures and sells gelatine and related products in India and internationally.

Sakata INX

Market Cap: JP¥113.6b

Manufactures and sells various printing inks and auxiliary agents in Japan, Asia, the America, Europe, and internationally.

Nippon Fine Chemical

Market Cap: JP¥55.6b

Manufactures and sells fine chemical, cosmetic, and industrial chemical products in Japan and internationally.

Yamax

Market Cap: JP¥14.3b

Engages in the provision of civil engineering and architectural concrete products in Japan.

Dangote Cement

Market Cap: ₦16.6t

Engages in the preparation, manufacturing, distribution, and sale of cement and related products in Nigeria.

Changhae Ethanol

Market Cap: ₩78.9b

Produces and sells spirits from sugar cane, tapioca, rice, and barley crops in South Korea.

Shih-Kuen Plastics

Market Cap: NT$2.4b

Engages in the manufacturing, processing, and sales of plastic sheet products.

HEXPOL

Market Cap: SEK 25.9b

Develops, manufactures, and sells various polymer compounds and engineered gaskets, seals, and wheels in Sweden, rest of Europe, the United States, rest of the Americas, and Asia.

Mory Industries

Market Cap: JP¥36.7b

Manufactures and sells stainless steel and welded carbon steel products in Japan.

Shinagawa Refra

Market Cap: JP¥87.0b

Engages in the manufacture and sale of refractory products in Japan and internationally.

Tokyo Printing Ink Mfg

Market Cap: JP¥16.4b

Manufactures and sells specialty chemicals in Japan.

EPL

Market Cap: ₹76.5b

Manufactures and sells plastic packaging materials in the form of multilayer collapsible tubes, corrugated boxes, and laminates in the Americas, Europe, Africa, the Middle East, South Asia, and the East Asia Pacific.

Lucky Cement

Market Cap: NT$5.9b

Manufactures and sells cement, stone, and other cement-related products in the People’s Republic of China.

Jaya Tiasa Holdings Berhad

Market Cap: RM 1.1b

An investment holding company, engages in the extraction and sale of logs in Malaysia.

Asia Cement

Market Cap: NT$124.0b

Engages in the cement business in China and Taiwan.

KurimotoLtd

Market Cap: JP¥88.4b

Manufactures and sells ductile iron pipes and accessories, valves, and industrial and construction materials in Japan and internationally.

Nissan Chemical

Market Cap: JP¥917.4b

Engages in the chemicals, performance materials, agricultural chemicals, and pharmaceuticals businesses in Japan and internationally.

Yamato Kogyo

Market Cap: JP¥720.6b

Through its subsidiaries, engages in the manufacture and sale of steel products in Japan and internationally.

Muto Seiko

Market Cap: JP¥13.5b

Manufactures and sells plastic parts in Japan, Vietnam, China, Taiwan, rest of Asia, and internationally.

DeHua TB New Decoration MaterialLtd

Market Cap: CN¥12.7b

Produces and sells environmentally friendly furniture panels in China and internationally.

Konishi

Market Cap: JP¥90.5b

Manufactures and sells synthetic adhesives in Japan.

United Paper

Market Cap: ฿4.9b

Engages in the production and distribution of box surface paper and Kraft paper for packaging corrugated boxes in Thailand.

Mino Ceramic

Market Cap: JP¥11.9b

Designs, produces, and sells refractories and advanced ceramics in Japan and internationally.

BOC Kenya

Market Cap: KSh2.9b

Manufactures and sells medical and industrial gases and welding products in Kenya.

Daoming Optics&ChemicalLtd

Market Cap: CN¥7.3b

Engages in the research and development, production, and sale of various functional films and polymer synthetic materials in China and internationally.

Taiyo KagakuLtd

Market Cap: JP¥45.3b

Manufactures and sells functional food ingredients for food, beverage, supplement, and cosmetic applications in Japan and internationally.

Nitto Denko

Market Cap: JP¥2.1t

Primarily engages in the adhesive tapes business in Japan, the Americas, Europe, Asia, and Oceania.

GOCL

Market Cap: ₹16.4b

Engages in the electronics manufacturing services and the realty businesses in India and internationally.

L'Air Liquide

Market Cap: €102.0b

Provides gases, technologies, and services for the industrial and health sectors in Europe, the Americas, the Asia Pacific, the Middle East, and Africa.

Gansu Shangfeng CementLtd

Market Cap: CN¥13.3b

Manufactures and sells building materials, and cement and cement clinker products in China.

Ohishi Sangyo

Market Cap: JP¥10.5b

Engages in the manufacture and sale of industrial packaging materials primarily in Japan.

PCC Rokita

Market Cap: zł1.4b

Designs, produces, and sells chemical products in Poland, Germany, the European Union, rest of Europe, the United States, Asia, and internationally.

Acadian Timber

Market Cap: CA$316.5m

Provides forest products in Eastern Canada and the Northeastern United States.

Innospec

Market Cap: US$1.9b

Develops, manufactures, blends, markets, and supplies specialty chemicals in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific.