Global Materials Low Leverage High Rewards

Surya Roshni

Market Cap: ₹58.1b

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

Yamato Kogyo

Market Cap: JP¥646.4b

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

Aica Kogyo Company

Market Cap: JP¥218.0b

Manufactures and sells chemical products in Japan, China, rest of Asia, Oceania, and internationally.

Narmada Gelatines

Market Cap: ₹2.1b

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

Tosoh

Market Cap: JP¥725.4b

Manufactures and sells basic chemicals, petrochemicals, specialty products, and fine chemicals.

Changhae Ethanol

Market Cap: ₩78.8b

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

Shih-Kuen Plastics

Market Cap: NT$2.3b

Produces and supplies PVC sheets and vinyl films.

HEXPOL

Market Cap: SEK 29.8b

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.

EPL

Market Cap: ₹68.4b

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.

Asia Pile Holdings

Market Cap: JP¥54.9b

Through its subsidiaries, engages in the foundation construction business in Japan and Vietnam.

Zeon

Market Cap: JP¥342.5b

Engages in the elastomer materials, specialty materials, and other businesses in Japan, North America, Europe, and Asia.

Koatsu Gas Kogyo

Market Cap: JP¥56.9b

Engages in the gas and chemical products businesses in Japan.

PCC Rokita

Market Cap: zł1.2b

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

Mino Ceramic

Market Cap: JP¥12.2b

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

AMG Packaging & Paper

Market Cap: JA$1.1b

Engages in the manufacturing, distributing, and retailing of cartons of various sizes in Jamaica.

Daoming Optics&ChemicalLtd

Market Cap: CN¥7.7b

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

Muto Seiko

Market Cap: JP¥13.8b

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

DeHua TB New Decoration MaterialLtd

Market Cap: CN¥11.9b

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

GOCL

Market Cap: ₹14.6b

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

Ohishi Sangyo

Market Cap: JP¥10.5b

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

Union Chemicals Lanka

Market Cap: LK₨2.0b

Manufactures and markets a range of polyvinyl/acrylic emulsions for paint and textile industries, and industrial and domestic use as adhesives in Sri Lanka.

China Jushi

Market Cap: CN¥60.9b

Engages in the manufacture and sale of fiberglass and related products in China and internationally.

United Paper

Market Cap: ฿4.8b

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

Konishi

Market Cap: JP¥84.4b

Manufactures and sells synthetic adhesives in Japan.

Sakai Chemical Industry

Market Cap: JP¥47.4b

Manufactures and sells various chemical products in Japan, Asia, North America, Europe, the Middle East, and internationally.

Nissan Chemical

Market Cap: JP¥733.2b

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

Jaya Tiasa Holdings Berhad

Market Cap: RM 1.0b

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

Gansu Shangfeng CementLtd

Market Cap: CN¥10.5b

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

Göltas Göller Bölgesi Cimento Sanayi ve Ticaret

Market Cap: ₺5.8b

Göltas Göller Bölgesi Cimento Sanayi ve Ticaret A.S.

L'Air Liquide

Market Cap: €92.4b

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

CF Industries Holdings

Market Cap: US$12.3b

Engages in the manufacture and sale of hydrogen and nitrogen products for energy, fertilizer, emissions abatement, and other industrial activities in North America, Europe, and internationally.

Treatt

Market Cap: UK£122.2m

Manufactures and supplies various natural extracts and ingredients to beverage, flavor, fragrance, and consumer goods markets.

Transcontinental

Market Cap: CA$1.9b

Engages in the flexible packaging business in Canada, the United States, Latin America, the United Kingdom, and internationally.

Grigeo Group

Market Cap: €145.4m

Operates in the paper and wood industry in Lithuania.

Kuriyama Holdings

Market Cap: JP¥32.5b

Manufactures and sells of various hoses, rubber, and plastics products in Japan, the United States, Canada, Europe, and internationally.

Corporación Moctezuma. de

Market Cap: Mex$69.7b

Engages in the production, distribution, and sale of Portland cement, mortar, white cement, ready-mixed concrete and aggregates in Mexico.