Japanese Low Leverage High Rewards

Fukuda Denshi

Market Cap: JP¥303.4b

Engages in the manufacture and sale of medical instruments in Japan and internationally.

GungHo Online Entertainment

Market Cap: JP¥115.1b

Engages in the planning, development, operation, and distribution of smartphone applications and computer games in Japan, Asia, Taiwan, Thailand, the Republic of Indonesia, North America, Central and South America, and internationally.

Taiyo KagakuLtd

Market Cap: JP¥44.3b

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

Noevir Holdings

Market Cap: JP¥151.5b

Develops, produces, and sells cosmetics, toiletries, medical supplies, and food products in China, Taiwan, South Korea, Hong Kong, Singapore, Thailand, the United States, and Canada.

Zett

Market Cap: JP¥8.3b

Engages in the manufacture and wholesale of sports equipment in Japan.

AlpenLtd

Market Cap: JP¥75.3b

Engages in the development and sale of sporting products in Japan.

Soiken Holdings

Market Cap: JP¥5.7b

Engages in the development of biomarkers in Japan.

YagiLtd

Market Cap: JP¥41.3b

Together its subsidiaries, operates as a fiber trading company in Japan.

FALCO HOLDINGS

Market Cap: JP¥25.8b

A medical service company, provides clinical testing and dispensing pharmacy services to medical institutions and companies in Japan.

ZENKOKU HOSHOLtd

Market Cap: JP¥402.6b

Engages in the credit guarantee business in Japan.

NIFTY Lifestyle

Market Cap: JP¥8.3b

Provides action support platforms and solutions in Japan.

Gendai Agency

Market Cap: JP¥5.0b

Engages in planning and production of advertising and promotion services in Japan.

Asahi Broadcasting Group Holdings

Market Cap: JP¥32.1b

Engages in the television and radio broadcasting activities in Japan and internationally.

Nippon Carbide Industries

Market Cap: JP¥34.0b

Engages in the electronic and functional products, and films and sheetings business in Japan, Asia, and internationally.

Ray

Market Cap: JP¥6.2b

Engages in the video production business in Japan.

Furubayashi ShikoLtd

Market Cap: JP¥2.8b

Plans, designs, prints, processes, manufactures, and sells packaging products in Japan, China, and Taiwan.

Kawada Technologies

Market Cap: JP¥68.4b

Engages in the steel, civil engineering, architecture, and IT service sectors in Japan.

GREE Holdings

Market Cap: JP¥63.7b

Engages in the gaming business in Japan and internationally.

Vector

Market Cap: JP¥81.9b

Engages in the public relations (PR) and advertising, press release distribution, video release distribution, direct marketing, media, investment, and human resources businesses in Japan, China, and internationally.

Nicca ChemicalLtd

Market Cap: JP¥26.6b

Manufactures and sells surfactants and other related products for textile chemicals, metals, pulp and paper, paints, dyes, synthetic resins, and dry and professional cleaning agents in Japan and internationally.

ALPHA

Market Cap: JP¥11.7b

Develops, manufactures, and sells lock and key products for automobile parts, housing hardware products, and coin operated lockers in Japan and internationally.

JICHODOLtd

Market Cap: JP¥25.8b

Engages in planning, manufacturing, and sale of uniforms in Japan and internationally.

Sata Construction

Market Cap: JP¥12.3b

Engages in the contracting and construction material, planning and designing, and supervision of civil engineering and other construction works in Japan.

Maruzen Showa Unyu

Market Cap: JP¥144.6b

Engages in the logistics business in Japan and internationally.

Stanley Electric

Market Cap: JP¥430.9b

Engages in the manufacture, sale, and import/export of automotive and other light bulbs in Japan and internationally.

Entrust

Market Cap: JP¥23.9b

Engages in the guarantee and solution businesses.

Kyoto Tool

Market Cap: JP¥6.2b

Manufactures and sells automotive maintenance tools, medical tools and related equipment, electrical tools, and other general tools in Japan.

Kissei Pharmaceutical

Market Cap: JP¥171.0b

Researches, develops, manufactures, and sells pharmaceutical products primarily in Japan.

Musashino Bank

Market Cap: JP¥248.8b

Provides banking products and financial services in Japan.

Dainichiseika Color & Chemicals Mfg

Market Cap: JP¥71.8b

Dainichiseika Color & Chemicals Mfg. Co., Ltd.

Daiichi Sankyo Company

Market Cap: JP¥4.8t

Manufactures and sells pharmaceutical products in Japan and internationally.

Yondoshi Holdings

Market Cap: JP¥41.8b

Engages in the planning, manufacture, wholesale, and retail of jewelry, apparel, bags, and other products in Japan and internationally.

Ubicom Holdings

Market Cap: JP¥11.6b

Engages in the provision of IT solutions in Japan, the Philippines, China and the United States.

ISB

Market Cap: JP¥26.4b

Engages in the provision of embedded software development services for mobile, medical, and automotive applications in Japan.

Katakura IndustriesLtd

Market Cap: JP¥77.3b

Engages in the textiles, pharmaceuticals, machinery, real estate, and other businesses in Japan.

Toray Industries

Market Cap: JP¥1.7t

Manufactures, processes, and sells fibers and textiles, performance chemicals, carbon fiber composite materials, water treatment and healthcare, and other products in Japan, Asia, China, America, Europe, and internationally.