A pillar of the Matthews Japan Fund (Trades, Portfolio)’s investment philosophy is a laser-like, long-term focus on Asian stocks, almost exclusively Japan-based companies. There may have been a quarter when the Fund invested in a non-Japanese stock or two – but not recently and certainly not in the fourth quarter of 2014 when the Fund bought shares in 49 Japanese companies that are new to its portfolio.
The Fund bought 306,800 shares of Fuji Heavy Industries Ltd (TSE:7270, Financial), a Japanese aerospace and ground transportation manufacturing, for an average price of ¥3,938.14 per share (approximately $32.55 USD). The acquisition had a 1.8% impact on the Fund’s portfolio.
The Signature Select Canadian Fund (Trades, Portfolio) also has shares of Fuji Heavy Industries in its portfolio.
The Fund also bought 246,400 shares of Recruit Holdings Co Ltd (TSE:6098, Financial), a Tokyo-based provider of information services for individuals and businesses, for an average price of ¥3,681.67 per share (approximately $30.43 USD). The purchase had a 1.2% impact on the Fund’s portfolio.
The T. Rowe Price Japan Fund (Trades, Portfolio) also has shares of Recruit Holdings in its portfolio.
The Fund acquired 938,300 shares of Anritsu Corp (TSE:6754, Financial), a Japanese company serving the test and measurement equipment market, for an average price of ¥815.13 per share (about $6.73 USD). The transaction had a 1.1% impact on the Fund’s portfolio.
The purchase made Anritsu the fourth-largest stake in the Fund's portfolio.
The Fund’s acquisitions of shares of Omron Corp (TSE:6645, Financial) and SMC Corp (TSE:6273, Financial) each had a 1% impact on the Fund’s portfolio.
The Fund purchased 138,600 shares of Omron, an electronics company based in the city of Kyoto, for an average price of ¥5,144.5 per share (roughly $42.52 USD). The Fund bought 23,400 shares of SMC, a developer of control systems and equipment for industrial automation, for an average price of ¥30,623.2 per share (almost $253.15 USD).
The Matthews Japan Fund (Trades, Portfolio) also added shares the following companies to its portfolio in the fourth quarter – Dai-ichi Life Insurance Co Ltd (TSE:8750), Hitachi Ltd (TSE:6501), Mitsubishi Electric Corp (TSE:6503),Toshiba Corp (TSE:6502), KDDI Corp (TSE:9433), Oriental Land Co., Ltd. (TSE:4661), Nippon Telegraph & Telephone Corp (TSE:9432), Mitsui & Co Ltd (TSE:8031), Astellas Pharma Inc (TSE:4503), NGK Spark Plug Co., Ltd. (TSE:5334), Toray Industries Inc (TSE:3402), Bridgestone Corp (TSE:5108), TDK Corp (TSE:6762), Meiji Holdings Co Ltd (TSE:2269), Japan Tobacco Inc (TSE:2914), Mitsubishi Corp (TSE:8058), Fast Retailing Co Ltd (TSE:9983), Ebara Corp (TSE:6361), Chugai Pharmaceutical Co Ltd (TSE:4519), Shimano Inc. (TSE:7309), Minebea Co Ltd (TSE:6479), Isuzu Motors Ltd (TSE:7202), Rakuten, Inc. (TSE:4755), Seiko Epson Corp (TSE:6724), Makita Corp (TSE:6586), Koito Manufacturing Co., Ltd. (TSE:7276), Fujitsu Ltd (TSE:6702), Nitto Denko Corporation (TSE:6988), CyberAgent Inc (TSE:4751), Denso Corp (TSE:6902), Hogy Medical Co., Ltd. (TSE:3593), Ajinomoto Co Inc (TSE:2802), JGC Corp (TSE:1963), Hitachi Metals Ltd. (TSE:5486), Mitsubishi UFJ Lease & Finance Co Ltd (TSE:8593), Lawson Inc (TSE:2651), Toshiba Tec Corp (TSE:6588), Sato Holdings Corporation (TSE:6287), Japan Aviation Electronics Industry Ltd (TSE:6807), Hamamatsu Photonics KK (TSE:6965), United Arrows Ltd. (TSE:7606) and ABC-Mart, Inc. (TSE:2670).
Toshiba is the 18th-largest stake in the portfolio.
To view international stock purchases, visit the Guru's International Picks page. Not a premium member of GuruFocus? Try it free for 7 days.
