Matthews Japan Fund Makes 4 New Buys in 4th Quarter

The Matthews Japan Fund (Trades, Portfolio) made four new buys in the fourth quarter and added to more than four dozen existing stakes.

The Fund’s top fourth-quarter acquisition was the purchase of a 2,954,100-share stake in MISUMI Group Inc. (TSE:9962, Financial), a Tokyo-based office machinery company, for an average price of ¥1,599.98 (roughly $13.30 in U.S. currency) per share. The transaction had a 2.25% impact on the Fund’s portfolio.

Matthews Japan Fund (Trades, Portfolio) is MISUMI’s largest shareholder among the gurus. The stake is 1.08% of MISUMI’s outstanding shares and 2.25% of the Fund’s total assets.

MISUMI has a P/E of 27.5, a forward P/E of 14.7, a P/B of 2.9 and a P/S of 1.8. GuruFocus gives MISUMI a Financial Strength rating of 5/10 and a Profitability and Growth rating of 8/10.

MISUMI sold for ¥1,451 (about $12.06 in American dollars) per share Friday.

The Fund’s second-largest purchase in the fourth quarter was 1,198,100 shares of Start Today Co. Ltd. (TSE:3092, Financial), a Japanese ecommerce company, for an average price of ¥4,056.23 (approximately $33.71 in U.S. money) per share. The deal had a 2.13% impact on the Fund’s portfolio.

Matthews Japan Fund (Trades, Portfolio) is Start Today’s largest shareholder among the gurus. The Fund’s stake is 1.11% of the company’s outstanding shares and 2.13% of the Fund’s total assets.

Start Today has a P/E of 44.7, a forward P/E of 24.3, a P/B of 14 and a P/S of 8.9. GuruFocus gives Start Today a Financial Strength rating of 10/10 with no debt and a Profitability and Growth rating of 5/10.

Start Today sold for ¥3,780 (roughly $31.42 in American currency) per share Friday.

The Fund invested in a 377,400-share stake in Ariake Japan Co. Ltd. (TSE:2815, Financial), a Japanese company involved in manufacturing and selling natural seasonings, for an average price of ¥5,852.08 (about $48.64 in U.S. dollars) per share. The transaction had a 1.15% impact on the Fund’s portfolio.

Matthews Japan Fund (Trades, Portfolio) is Ariake’s only shareholder among the gurus. The Fund’s stake is 1.19% of Ariake’s outstanding shares and 1.15% of the Fund’s total assets.

Ariake has a P/E of 38.4, a forward P/E of 14.3, a P/B of 3.7 and a P/S of 4.8. GuruFocus gives Ariake a Financial Strength rating of 7/10 and a Profitability and Growth rating of 8/10.

Ariake sold for ¥6,700 (approximately $55.68 in American money) per share Friday.

The Fund acquired a 1,335,700-share stake in NSD Co. Ltd. (TSE:9759, Financial), a Tokyo-based company that provides IT systems support to its clients, for an average price of ¥1,685.14 (roughly $14.01 in U.S. currency) per share. The deal had a 1.07% impact on the Fund’s portfolio.

Matthews Japan Fund (Trades, Portfolio) is NSD’s only shareholder among the gurus with a stake that is 2.99% of NSD’s outstanding shares and 1.07% of the Fund’s total assets.

NSD has a P/E of 21.9, a P/B of 1.9 and a P/S of 1.6. GuruFocus gives NSD a Financial Strength rating of 10/10 with no debt and a Profitability and Growth rating of 7/10.

NSD sold for ¥1,739 (about $14.45 in American dollars) per share Friday.

The Fund raised its stake in Pigeon Corp. (TSE:7956, Financial), a Japanese company involved in the manufacture and sale of childcare and nursing products, by nearly 56%. The Fund bought 713,800 shares for an average price of ¥3,169.09 (approximately $26.34 in U.S. money) per share in a deal that had a 0.96% impact on the Fund’s portfolio.

Matthews Japan Fund (Trades, Portfolio) is Pigeon’s leading shareholder among the gurus with a stake of 1,993,900 shares. The holding is 1.66% of Pigeon’s outstanding shares and 2.67% of the Fund’s total assets.

Wasatch International Growth (Trades, Portfolio) is Pigeon’s second-leading shareholder among the gurus with a stake of 845,951 shares, which is 0.71% of Pigeon’s outstanding shares and 1.52% of Wasatch’s total assets.

Pigeon has a P/E of 30.9, a P/B of 6.4 and a P/S of 3.3. GuruFocus gives Pigeon a Financial Strength rating of 7/10 and a Profitability and Growth rating of 8/10.

Pigeon sold for ¥2,542 (roughly $21.13 in American currency) per share Friday.

The Fund boosted its stake in Tokio Marine Holdings Inc. (TSE:8766), a Tokyo-based insurance holding company, by almost 45% with the purchase of 389,500 shares for an average price of ¥4,660.32 (about $38.73 in U.S. dollars) per share. The acquisition had a 0.83% impact on the Fund’s portfolio.

Matthews Japan Fund (Trades, Portfolio) is Tokio Marine’s leading shareholder among the gurus with a stake of 1,259,400 shares. That is 0.07% of Tokio Marine’s outstanding shares and 2.68% of the Fund’s total assets.

Tokio Marine has a P/E of 17, a P/B of 1 and a P/S of 0.7. GuruFocus gives Tokio Marine a Financial Strength rating of 7/10 and a Profitability and Growth rating of 7/10.

Tokio Marine sold for ¥4,248 (approximately $35.31 in American money) per share Friday.

The Fund increased its stake in Shin-Etsu Chemical Co. Ltd. (TSE:4063), a Tokyo-based chemical company that will observe its 90th anniversary in September, by more than 65%. The Fund bought 254,300 shares for an average price of ¥6,872.49 (roughly $57.12 in U.S. currency) per share. The transaction had a 0.76% impact on the Fund’s portfolio.

The Fund’s stake went up to 643,200 shares, which is 0.15% of Shin-Etsu’s outstanding shares and 1.93% of the Fund’s total assets. Causeway International Value (Trades, Portfolio) is Shin-Etsu’s leading shareholder among the gurus with 1,224,100 shares in its portfolio, 0.29% of Shin-Etsu’s outstanding shares and 0.98% of Causeway’s total assets.

Shin-Etsu has a P/E of 18.9, a P/B of 1.3 and a P/S of 2. GuruFocus gives Shin-Etsu a Financial Strength rating of 7/10 and a Profitability and Growth rating of 8/10.

Shin-Etsu sold for ¥6,081 (about $50.54 in American dollars) per share Friday.

The Fund raised its stake in CALBEE Inc. (TSE:2229), a Tokyo-based snack food maker, by 62% with the purchase of 320,600 shares for an average price of ¥4,634.69 (approximately $38.52 in U.S. money) per share. The deal had a 0.75% impact on the Fund’s portfolio.

The Fund’s stake, now 837,600 shares, is the largest among the gurus. The stake is 0.63% of CALBEE’s outstanding shares and 1.95% of the Fund’s total assets.

CALBEE has a P/E of 44.9, a P/B of 5.8 and a P/S of 2.8. GuruFocus gives CALBEE a Financial Strength rating of 8/10 and a Profitability and Growth rating of 6/10.

CALBEE sold for ¥4,945 (roughly $41.10 in American currency) per share Friday.

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