Japanese Low Leverage High Rewards

Gunze

Market Cap: JP¥83.3b

Engages in the functional solutions, apparel, and lifestyle creations businesses in Japan and internationally.

Nikko

Market Cap: JP¥26.1b

Engages in the manufacture and sale of asphalt mixing and concrete batching plants in Asia.

AJIS

Market Cap: JP¥21.8b

Provides inventory and other retail support services in Asia.

Nihon Flush

Market Cap: JP¥18.6b

Manufactures and sells interior products in Japan.

eGuarantee

Market Cap: JP¥84.6b

Engages in credit risk entrustment and securitization business in Japan.

Trenders

Market Cap: JP¥7.1b

Engages in the marketing and investment business in Japan.

Uchida Yoko

Market Cap: JP¥77.0b

Provides government and education, office, and information system solutions in Japan and internationally.

Kanda HoldingsLtd

Market Cap: JP¥16.1b

Through its subsidiaries, provides integrated logistics services in Japan and internationally.

FALCO HOLDINGS

Market Cap: JP¥24.3b

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

KurimotoLtd

Market Cap: JP¥57.4b

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

Nitto Denko

Market Cap: JP¥1.7t

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

Mandom

Market Cap: JP¥61.4b

Engages in the manufacture and sale of cosmetics, perfumes, and quasi-drugs in Japan, Indonesia, and internationally.

Sakai Chemical Industry

Market Cap: JP¥40.7b

Provides various chemical products in Japan.

NPR-Riken

Market Cap: JP¥63.6b

Manufactures and sells automobile engine parts, marine engine parts, and other products in Japan and internationally.

DoshishaLtd

Market Cap: JP¥78.2b

Plans, develops, produces, and sells lifestyle-related products in Japan and internationally.

Intelligent Wave

Market Cap: JP¥28.0b

Provides system development services and system products in Japan and internationally.

Business Brain Showa-Ota

Market Cap: JP¥29.7b

Provides consulting and system development solutions in Japan.

Maruo Calcium

Market Cap: JP¥2.9b

Manufactures and sells various calcium carbonate and other industrial raw materials in Japan.

Yashima Denki

Market Cap: JP¥36.1b

Provides plant business, industry/equipment, and transportation business in Japan and internationally.

Kikusui Chemical Industries

Market Cap: JP¥4.6b

Engages in the manufacture and sale of functional, building finishing, construction, and civil engineering materials in Japan and internationally.

DENSO

Market Cap: JP¥5.2t

Engages in the manufacture and sale of automotive parts in Japan, rest of Asia, North America, Europe, and internationally.

AOKI Holdings

Market Cap: JP¥107.6b

Engages in the fashion, anniversary and bridal, entertainment, and real estate rental businesses in Japan.

QuickLtd

Market Cap: JP¥39.4b

Engages in the recruiting, human resources service, information publishing, and Internet-related businesses in Japan and internationally.

Nippon Carbide Industries

Market Cap: JP¥15.7b

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

Mitsubishi Research Institute

Market Cap: JP¥70.5b

Provides research, consulting, and ICT solution to public and private sectors in Japan.

Shofu

Market Cap: JP¥77.6b

Manufactures and sells dental materials and equipment worldwide.

Innotech

Market Cap: JP¥15.8b

Engages in the import and sale of electronic design automation software, electric components, and semiconductor products in Japan and internationally.

Ohishi Sangyo

Market Cap: JP¥10.6b

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

Mansei

Market Cap: JP¥6.6b

Provides electronic products in Japan.

NCD

Market Cap: JP¥22.0b

Engages in the system development, support and service, and parking system businesses in Japan.

CREEK & RIVER

Market Cap: JP¥32.7b

Provides rights management, production, and agency services in Japan and internationally.

Nitto Fuji Flour MillingLtd

Market Cap: JP¥62.6b

Manufactures and sells flour products in Japan.

Tokyo Tekko

Market Cap: JP¥48.3b

Engages in the manufacture and sale of steel products for the construction industry in Japan.

Shikoku Kasei Holdings

Market Cap: JP¥82.0b

Engages in the research and development, manufacture, and sale of chemical products and housing materials in Japan and internationally.

Suzuyo Shinwart

Market Cap: JP¥7.3b

Operates as an information services company.

Kanemitsu

Market Cap: JP¥4.1b

Engages in the development, manufacture, and sale of pulleys for automobiles, and agricultural machinery and three-dimensional steel plates in Japan.