T. Rowe Price Japan Fund

T. Rowe Price Japan Fund Premium Guru

Last Update: 07-15-2016

Number of Stocks: 74
Number of New Stocks: 2

Total Value: $368 Mil
Q/Q Turnover: 11%

Countries: JPN
Details: Top Buys | Top Sales | Top Holdings  Embed:

T. Rowe Price Japan Fund Watch

  • T. Rowe Price Japan Fund Adds to Suzuki Stake

    The T. Rowe Price Japan Fund (Trades, Portfolio) increased its stake in Suzuki Motor Corp. (TSE:7269) by 60.38%, adding 112,000 shares to its portfolio in the second quarter.


    The trade had a 0.82% impact on the fund's portfolio. The fund now owns 297,500 shares in the company.

      


  • T. Rowe Price Japan Fund’s Top 5 Buys

    T. Rowe Price Japan Fund (Trades, Portfolio) purchased two new holdings and added to three others during the second quarter. Its new purchases were Daio Paper Corp. (TSE:3880) and ASICS Corp. (TSE:7936).


    In Daio Paper, 741,900 shares were purchased for an average price of 1,083.65 yen ($10) per share. The paper manufacturer has a market cap of 172.7 billion yen with an enterprise value of 457.4 billion yen. It has a P/E of 12.6, a P/B of 1.1 and a P/S of 0.36. GuruFocus ranked its financial strength 5 of 10 and its profitability and growth 5 of 10. The transaction had a 2.19% impact on the Fund’s portfolio.

      


  • T. Rowe Price Japan Fund Q1 Commentary

    Japanese equities endured a difficult quarter, lagging developed market peers and significantly underperforming emerging markets. Weak economic data and many other factors pressured stocks lower, but the Bank of Japan's decision to impose negative interest rates on banks' excess reserves appeared to weigh the most. The action prompted a precipitous decline in bank stocks and, counterintuitively, caused a strengthening of the yen, as investors interpreted the move as meaning that policymakers had exhausted all other resources. Chinese growth concerns and expectations that the Federal Reserve will delay the U.S. rate hiking cycle also fed yen strength. One bright spot came from companies continuing to buy back stock at unprecedented levels.


    The Japan Fund returned 1.82% in the quarter compared with −5.86% for the TOPIX Index and −5.34% for the Lipper Japanese Funds Average. For the 12 months ended March 31, 2016, the fund returned 3.48% versus −4.85% for the TOPIX Index and −4.56% for the Lipper Japanese Funds Average. The fund's average annual total returns were 3.48%, 7.85%, and −0.25% for the 1-, 5-, and 10-year periods, respectively, as of March 31, 2016. The fund's expense ratio was 1.05% as of its fiscal year ended October 31, 2015.

      


  • T Rowe Price Japan Invests in Kubota, REIT

    During the first quarter, the T. Rowe Price Japan Fund (Trades, Portfolio) purchased two new stocks for its portfolio of 75 holdings, including one in the machinery sector, which is the second-most represented industry in the portfolio.


    T. Rowe Price purchased 434,500 shares of Kubota Corp. (TSE:6326) for an average price of ¥1585.24 per share. Kubota produces agriculture and industrial products such as tractors, upstream and downstream water solutions and construction machinery.

      


  • T. Rowe Price Japan Fund 4th Quarter Commentary

    Japanese equities rallied in the quarter and outperformed most other developed and emerging markets. Sentiment was boosted by the Bank of Japan's monetary stimulus efforts, lower energy prices, and increased capital spending. Growth stocks outperformed value stocks, while large-caps outperformed smaller shares. Corporate news underpinned positive sentiment, with many Japanese companies beating earnings estimates for the prior quarter. Additionally, fears about the Chinese economy and therefore global growth subsided somewhat during the quarter. Finally, news that the European Central Bank was considering additional monetary easing measures and an increased allocation to domestic shares by local pension schemes also boosted shares.


    The Japan Fund returned 8.19% in the quarter compared with 9.35% for the TOPIX Index and 8.97% for the Lipper Japanese Funds Average. For the 12 months ended December 31, 2015, the fund returned 14.89% versus 11.69% for the TOPIX Index and 12.03% for the Lipper Japanese Funds Average. The fund's average annual total returns were 14.89%, 6.73%, and −0.25% for the 1-, 5-, and 10-year periods, respectively, as of December 31, 2015. The fund's expense ratio was 1.05% as of its fiscal year ended October 31, 2014.

      


  • T. Rowe Price Japan Fund Acquires 5 Stakes in 4th Quarter

    In the fourth quarter, the T. Rowe Price Japan Fund (Trades, Portfolio) matched its number of new buys in the third quarter and added to more stakes than it has in all but one quarter since 2012.


    The Fund invested in five new holdings in the fourth quarter, the most noteworthy being the purchase of a 256,800-share stake in Miura Co. Ltd. (TSE:6005), a Japanese boiler manufacturer, for an average price of ¥1,559.85 (about $13.30 in U.S. currency) per share. The acquisition had a 1.11% impact on the Fund’s portfolio.

      


  • 3 Global Investment Ideas From Gurus

    During the third quarter, gurus invested in several well-known global companies such as Samsung Electronics (XKRX:005930), Toyota (TSE:7203) and GlaxoSmithKline (LSE:GSK). But results from the All-In-One Screener show there were three other international stocks with lesser-known names that were popular among the gurus.


    GuruFocus’ All-In-One Screener offers 150 different filters to sort stocks and find appropriate investments. To find international investment ideas, click the checkmark box for the desired regions at the top of the screener and de-select the box for USA. Then adjust the parameters in the Guru tab of the screener. For the results below, we searched for recent gurus buying and selling of “3+ Gurus” over the past three months.

      


  • T. Rowe Price Japan Fund Q3 2015 Commentary

    Japanese equities slumped in the three-month period to the end of September as concerns about a slowdown in China reverberated across financial markets. The quarter had begun on a positive note with Japanese stocks rising in July, aided by solid corporate earnings reports, unprecedented monetary stimulus by the Bank of Japan, a weaker yen, and lower oil prices. The market became more volatile in the latter half of August, as Japanese equities tracked a spiraling decent in Chinese stocks. Large-caps led the retreat, followed by mid- and then small-caps. Among industry segments, iron and steel and mining and machinery saw the greatest weakness as expectations for global economic growth were revised lower on the back of China's slowdown, and commodity prices plunged to multiyear lows. Only air transportation and construction finished in positive territory, albeit with modest gains.


    The Japan Fund returned −9.29% in the quarter compared with −10.89% for the TOPIX Index and −11.00% for the Lipper Japanese Funds Average. For the 12 months ended September 30, 2015, the fund returned −0.11% versus −0.69% for the TOPIX Index and 0.24% for the Lipper Japanese Funds Average. The fund's average annual total returns were −0.11%, 7.12%, and 0.57% for the 1-, 5-, and 10-year periods, respectively, as of September 30, 2015. The fund's expense ratio was 1.05% as of its fiscal year ended October 31, 2014.

      


  • T. Rowe Price Japan Adds Five New Holdings During Third Quarter

    The T. Rowe Price Japan Fund (Trades, Portfolio) seeks long-term growth by investing at least 80% of its assets in Japanese companies, benefiting from the country’s leading position in the electronic and automobile industries.


    Since the fund’s inception in December 1991, the fund has had an average annual total return of 1.46%, compared to a loss of 0.17% for the benchmark Lipper Japanese Funds Average.

      


  • T. Rowe Price Japan Fund Adds to Each of its 10 Most Valuable Stakes

    T. Rowe Price Japan Fund (Trades, Portfolio) is an advocate of long-term growth through investments in companies that are based in Japan or have their main operations there. Its strategy produced a return of nearly 30% in 2013.


    In the second quarter, T. Rowe Price increased its positions in its 10 most valuable stakes.

      


  • T. Rowe Price Japan Fund Q1 2015 Commentary

    Japanese equities posted strong returns over the quarter in both local currency and U.S. dollar terms. It was the best-performing developed market in the first quarter. The equity market has benefited from a number of tailwinds, including purchases by government pension funds, companies improving shareholder returns in response to government pressure, and exporters benefiting from the weak yen. Domestic consumers should benefit from wage increases and low inflation. The macroeconomic data also appear to be improving as the impact of last year's sales tax increase wears off. Although consumer inflation near 0% is significantly below the central bank's target of 2%, this is mostly due to weak oil prices rather than weak domestic demand-which has been improving and should improve as we see further real wage growth.


    The Japan Fund returned 13.04% in the quarter compared with 10.50% for the TOPIX Index and 11.46% for the Lipper Japanese Funds Average. For the 12 months ended March 31, 2015, the fund returned 8.97% versus 12.23% for the TOPIX Index and 14.58% for the Lipper Japanese Funds Average. The fund's average annual total returns were 8.97%, 7.89%, and 3.02% for the 1-, 5-, and 10-year periods, respectively, as of March 31, 2015. The fund's expense ratio was 1.05% as of its fiscal year ended October 31, 2014.

      


  • T. Rowe Price Japan Fund Q4 2014 Commentary

    Environment


    Japanese equities posted strong returns over the quarter in local currency terms. In U.S. dollars, the market declined, primarily due to the weak yen. The Japanese economy contracted in the third quarter and slipped into recession (commonly defined as two consecutive quarters of economic contraction), but investors are hopeful for better growth ahead. Prime Minister Shinzo Abe is pushing the Bank of Japan (BoJ) to inject more funds into the financial system through purchases of government bonds and other debt instruments, and the central bank intends to introduce more currency depreciation measures (the yen is already at a seven-year low versus the U.S. dollar) to revive growth. Prime Minister Abe announced a postponement of the planned sales tax and a snap election, which the ruling coalition won convincingly, reaffirming its mandate for reform.

      


  • T. Rowe Price Japan Fund's 5 New Holdings

    The T. Rowe Price Japan Fund (Trades, Portfolio) invests at least 80% of its assets in Japanese companies that can achieve and sustain above-average long-term earnings growth.

    In T. Rowe Price’s fourth quarter commentary, the firm said Japanese equities performed well in local currency terms, but declined in U.S. dollars due to the weak yen. T. Rowe Price maintained IT and services as the largest sector in the portfolio, particularly staffing agencies due to signs of a tightening labor market.  


  • T. Rowe Price Japan Fund 2014 Annual Manager's Letter

    Fellow Shareholders


    Japanese stocks offered good gains over the past six months, but the broad Topix benchmark was roughly flat over the fund’s fiscal year ended October 31, 2014.

      


  • T. Rowe Price Japan Fund Q3 2014 Commentary

    Environment


    Japanese stocks posted strong gains in local currency terms over the quarter but lost ground in U.S. dollar terms due to a significantly weaker yen. In the first half of the quarter, good corporate earnings and a number of stock buybacks helped support stocks, as did reports that the country's public pension fund may raise its weighting in domestic equities. Later in the period, markets got a more unexpected lift from weaker economic data, which raised expectations of further stimulus and monetary easing and drove the yen significantly lower. Export-oriented stocks, such as automakers and manufacturers of machinery and electric appliances, posted particularly strong gains. The weakest-performing sectors over the quarter included banks, real estate, and financial services excluding banks.

      


  • T. Rowe Price Japan Fund Second Quarter 2014 Manager Commentary

    Japanese stocks posted strong returns in the second quarter, outperforming broader developed markets and reversing the declines of the previous three months in U.S. dollar terms. Economic data showed that the Japanese economy expanded at a faster rate than expected in the first quarter of 2014, which was the best quarterly growth rate seen in almost three years. Consumer confidence improved for the first time in six months in May while producer prices rose at the fastest annual rate since October 2008. Investor sentiment was further boosted by encouraging economic data from China, a key export market for Japan's manufacturers, and the Federal Reserve's commitment to maintaining an accommodative policy stance.


    The Japan Fund returned 6.40% in the quarter compared with 6.89% for the TOPIX Index and 7.29% for the Lipper Japanese Funds Average. For the 12 months ended June 30, 2014, the fund returned 10.85% versus 11.36% for the TOPIX Index and 12.99% for the Lipper Japanese Funds Average. The fund's average annual total returns were 10.85%, 10.29%, and 2.75% for the 1-, 5-, and 10-year periods, respectively, as of June 30, 2014. The fund's expense ratio was 1.06% as of its fiscal year ended October 31, 2013.

      


  • T. Rowe Price Japan Fund First Quarter 2014 Manager Commentary

    Japanese equities declined over the quarter. Along with the geopolitical concerns facing most global markets, anxieties about an economic slowdown in China also resurfaced and prompted investors to repatriate money into safe-haven assets, including the yen. This currency strength hit the stocks of Japanese exporters, in particular. Japan's looming consumption tax hike also played a role in dampening the domestic stock market. On the upside, however, retail sales rose unexpectedly as consumers increased spending ahead of a hike in the consumption tax.


    The Japan Fund returned −5.10% in the quarter compared with −4.82% for the TOPIX Index and −4.45% for the Lipper Japanese Funds Average. For the 12 months ended March 31, 2014, the fund returned 9.51% versus 8.24% for the TOPIX Index and 8.89% for the Lipper Japanese Funds Average. The fund's average annual total returns were 9.51%, 12.94%, and 2.20% for the 1-, 5-, and 10-year periods, respectively, as of March 31, 2014. The fund's expense ratio was 1.06% as of its fiscal year ended October 31, 2013.

      


  • T Rowe Price Japan Fund Annual Report - October 2013

    The views and opinions in this report were current as of October 31, 2013. They are not guarantees of performance or investment results and should not be taken as investment advice. Investment decisions reflect a variety of factors, and the managers reserve the right to change their views about individual stocks, sectors, and the markets at any time. As a result, the views expressed should not be relied upon as a fore - cast of the fund's future investment intent. The report is certified under the Sarbanes-Oxley Act, which requires mutual funds and other public companies to affirm that, to the best of their knowledge, the information in their financial reports is fairly and accurately stated in all material respects.

      


  • T. Rowe Price Japan Fund Fourth Quarter Commentary

    Japanese stocks gained in the quarter in yen terms, although a decline in the currency reduced returns for overseas investors. Economic data suggested that Prime Minister Shinzo Abe's "three arrows" plan of economic reform was delivering positive results. Employment growth figures were robust, while core inflation reached its highest level in five years. Total monthly wages per regular worker rose, as did inflation expectations on evidence of a tighter labor market. In reaction to slowing growth in the third quarter due to a decline in private investment, policymakers put through an additional stimulus package. Business and consumer sentiment continued to strengthen during the quarter, with a measure of business confidence reaching a six-year high.


    The Japan Fund returned 2.21% in the quarter compared with 1.95% for the TOPIX Index and 2.07% for the Lipper Japanese Funds Average. For the 12 months ended December 31, 2013, the fund returned 29.96% versus 27.03% for the TOPIX Index and 27.90% for the Lipper Japanese Funds Average. The fund's average annual total returns were 29.96%, 8.70%, and 4.26% for the 1-5-, and 10-yearperiods, respectively, as of December 31, 2013. The fund's expense ratio was 1.14% as of its fiscal year ended October 31, 2012.

      


  • T. Rowe Price Japan Fund’s Top Five Fourth Quarter Picks

    Over the fourth quarter the T. Rowe Price Japan Fund purchased 14 new stocks. This brought the total number of stocks held by them to 90 stocks valued at $310 million. This fund seeks long-term growth of capital through investments in common stocks of companies located in Japan.


    The following five companies represent T. Rowe Price Fund’s top five stock holdings.

      


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