Japanese Materials Potentially Undervalued Small Caps

TOKYO KOATSU

Market Cap: JP¥1.9b

Manufactures and sells industrial gases.

Kodama Chemical IndustryLtd

Market Cap: JP¥10.1b

Manufactures and sells plastic products in Japan, Thailand, and internationally.

HOKUETSU METAL

Market Cap: JP¥4.4b

Manufactures, processes, and sells iron and steel products in Japan.

Katakura & Co-op Agri

Market Cap: JP¥9.3b

Engages in the fertilizer, cosmetic, chemical, feed, real estate, and other businesses in Japan and internationally.

Showa Chemical Industry

Market Cap: JP¥5.4b

Engages in manufacturing and selling diatomite and perlite filter aids under the Radiolite and Topco brand in China and Japan.

Isamu Paint

Market Cap: JP¥6.6b

Manufactures and sells paints, solvents, and building materials in Japan.

Nippon Pigment Holdings

Market Cap: JP¥8.9b

Manufactures and sells liquid dispersion products, colorants, and resin compounds in Japan and internationally.

Takasago Tekko K.K

Market Cap: JP¥3.7b

Manufactures and sells various steel products developed primarily from stainless steel in Japan.

Shinto Paint Company

Market Cap: JP¥4.4b

Manufactures, processes, and sells synthetic resin paints, pigments, synthetic fats/oils, fats/oils, and chemicals in Japan.

Eidai KakoLtd

Market Cap: JP¥2.6b

Manufactures, imports, and sells resin sheets in Japan.

Sankei Chemical

Market Cap: JP¥1.5b

Manufactures and sells agricultural chemicals and pesticides in Japan.

Sanyu

Market Cap: JP¥4.3b

Produces and sells steel products in Japan.

Sun A.Kaken CompanyLimited

Market Cap: JP¥6.7b

Manufactures and sells packaging material-related products in Japan.

AmifaLtd

Market Cap: JP¥2.8b

Manufactures and distributes lifestyle products in Japan.

Nomura

Market Cap: JP¥5.0b

Develops, manufactures, and sells packaging materials and packaging machines in Japan.

Shoei

Market Cap: JP¥6.0b

Engages in the sales promotion support and product sales businesses in Japan.

Sugai Chemical Industry

Market Cap: JP¥4.2b

Manufactures and sells various chemicals in Japan.

MANAC Chemical PartnersLtd

Market Cap: JP¥6.7b

Engages in the development, manufacture, sale, import, and export of industrial chemicals and pharmaceuticals in Japan.

Kawaguchi Chemical Industry

Market Cap: JP¥1.8b

Manufactures and sells chemicals in Japan, the rest of Asia, and internationally.

Takamisawa

Market Cap: JP¥4.9b

Engages in the manufacture and sale of secondary concrete products, ready-mixed concrete, gravel, sand, cement, and other construction materials in Japan.