Matthews Japan Fund

Matthews Japan Fund Premium Guru

Last Update: 05-02-2016
Related: Matthews Pacific Tiger Fund

Number of Stocks: 54
Number of New Stocks: 8

Total Value: $2,592 Mil
Q/Q Turnover: 38%

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

Matthews Japan Fund' s Profile & Performance

Profile

Matthews Japan Fund Investor Class (MJFOX) was established on 12/31/1998. The Fund seeks long-term capital appreciation by investing at least 80% of its total net assets, which include borrowings for investment purposes, in the common and preferred stocks of companies located in Japan.

Web Page:http://matthewsasia.com/our-funds/f-8/matthews-japan-fund/overview.fs

Investing Philosophy

Matthews employs a bottom-up, fundamental investment philosophy with a focus on long-term investment performance.
(1) Active management
“We believe many of the regions’ widely used equity indices are backward looking and are not representative of the industries and companies that will be successful in the future. With respect to the region’s debt indices, we believe they are representative of the most indebted countries as opposed to the most creditworthy.”
(2) Long-term focus on Asia
“We believe a long-term approach is the most effective way to capitalize on Asia’s evolution.”
(3) Bottom-up research
“We employ a fundamental, bottom-up investment process. For equities, we seek to identify companies with sustainable long-term growth prospects, strong business models, quality management teams and reasonable valuations.”
(4) Defining Asia investment strategies
“We strive to provide investors a range of Asia strategies across the risk-reward spectrum and launch new strategies when there are compelling investment opportunities in the region.”

Historical Allocation of Stock, Bonds, Cash

Total Holding History

Performance of Matthews Japan Fund

YearReturn (%)S&P500 (%)Excess Gain (%)
201520.831.1919.6
2014-2.5913.69-16.3
201334.0332.391.6
3-Year Cumulative57.8 (16.4%/year)52.3 (15.1%/year)5.5 (1.3%/year)
20128.3216-7.7
2011-7.722.11-9.8
5-Year Cumulative57.7 (9.5%/year)80.4 (12.5%/year)-22.7 (-3%/year)
201019.5815.064.5
200910.0626.46-16.4
2008-28.38-378.6
2007-10.965.49-16.4
2006-6.4415.79-22.2
10-Year Cumulative23.8 (2.2%/year)102 (7.3%/year)-78.2 (-5.1%/year)
200514.834.919.9
200422.0310.8811.2
200359.5428.6830.9
2002-13.39-22.18.7
2001-29.15-11.89-17.3
15-Year Cumulative69.9 (3.6%/year)107.5 (5%/year)-37.6 (-1.4%/year)
2000-25.04-9.1-15.9
1999107.3521.0486.3

Top Ranked Articles

Matthews Japan Fund Comments on Nitori Holdings Guru stock highlight
During the quarter, we tilted the portfolio further towards companies that are strong yen beneficiaries while not compromising on medium-term growth potential and franchise quality. Nitori Holdings (TSE:9843) is one such example. As the leading furniture retailer in Japan, Nitori has been consolidating market share in the country by expanding further into urban areas and delivering innovative products that have stimulated consumer demand. Nitori also plans to steadily increase its presence in China where, we believe, they have an advantage in terms of product offering, perception of quality and price in a very fragmented Chinese furniture retail industry. As a major importer, Nitori stands to benefit from a stronger yen over time. Read more...
Matthews Japan Fund Comments on Relo Group Guru stock highlight
Stock selection accounted for the majority of the Fund’s outperformance. During the second quarter, the financials sector was again the leading source of relative performance. Our strategy to focus on unique and growing financial services firms, while avoiding more traditional names in banking and real estate, has been a significant driver of outperformance for the Fund. Corporate welfare and real estate management company Relo Group (TSE:8876), credit guarantee company eGuarantee and M&A advisory firm Nihon M&A Center all contributed positively to Fund performance. Additionally, our core holdings in the internet sector such as health care information service company M3 and fashion e-commerce company Start Today continue to deliver impressive returns. However, we have turned a bit more cautious on these names as strong performance has resulted in elevated valuation levels. Read more...
Matthews Japan Fund Invests in Tobacco Company in 1st Quarter Fund sells stakes in financial services, electronics, consumer goods businesses
In keeping with its mission, the Matthews Japan Fund (Trades, Portfolio)’s first-quarter transactions, including eight new buys, were in Japanese companies, a strategy that has produced an average annual return of 9.5% over the last five years. Read more...
Matthews Japan Fund Makes 4 New Buys in 4th Quarter Guru raises more than 4 dozen existing stakes
The Matthews Japan Fund (Trades, Portfolio) made four new buys in the fourth quarter and added to more than four dozen existing stakes. Read more...
Matthews Japan Fund Comments on TechnoPro Holdings Guru stock highlight
We also added TechnoPro Holdings (TSE:6028), a company that specializes in the staffing of professionals such as mechanical, electrical and software engineers. Labor supply is tight in Japan and we expect the pricing environment to remain favorable for staffing companies with specialized offerings. Both of these companies operate highly cash-generative businesses and are committed to paying out a large portion of their profits to shareholders. Read more...
» More Matthews Japan Fund Articles

Commentaries and Stories

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Matthews Japan Fund Comments on Relo Group Guru stock highlight
Stock selection accounted for the majority of the Fund’s outperformance. During the second quarter, the financials sector was again the leading source of relative performance. Our strategy to focus on unique and growing financial services firms, while avoiding more traditional names in banking and real estate, has been a significant driver of outperformance for the Fund. Corporate welfare and real estate management company Relo Group (TSE:8876), credit guarantee company eGuarantee and M&A advisory firm Nihon M&A Center all contributed positively to Fund performance. Additionally, our core holdings in the internet sector such as health care information service company M3 and fashion e-commerce company Start Today continue to deliver impressive returns. However, we have turned a bit more cautious on these names as strong performance has resulted in elevated valuation levels. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Matthews Japan Fund Comments on Nitori Holdings Guru stock highlight
During the quarter, we tilted the portfolio further towards companies that are strong yen beneficiaries while not compromising on medium-term growth potential and franchise quality. Nitori Holdings (TSE:9843) is one such example. As the leading furniture retailer in Japan, Nitori has been consolidating market share in the country by expanding further into urban areas and delivering innovative products that have stimulated consumer demand. Nitori also plans to steadily increase its presence in China where, we believe, they have an advantage in terms of product offering, perception of quality and price in a very fragmented Chinese furniture retail industry. As a major importer, Nitori stands to benefit from a stronger yen over time. More...

  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Matthews Japan Fund 2nd Quarter Commentary Market and outlook discussion Matthews Japan Fund - Matthews Japan Fund 2nd Quarter Commentary
For the first half of 2016, the Matthews Japan Fund (Trades, Portfolio) returned 6.27% (Investor Class), while its benchmark, the MSCI Japan Index, returned -5.41%. For the quarter ending June 30, 2016, the Matthews Japan Fund (Trades, Portfolio) returned 6.05% (Investor Class), while its benchmark, the MSCI Japan Index, returned 1.03%. More...

  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Matthews Japan Fund Invests in Tobacco Company in 1st Quarter Fund sells stakes in financial services, electronics, consumer goods businesses Matthews Japan Fund - Matthews Japan Fund Invests In Tobacco Company In 1st Quarter
In keeping with its mission, the Matthews Japan Fund (Trades, Portfolio)’s first-quarter transactions, including eight new buys, were in Japanese companies, a strategy that has produced an average annual return of 9.5% over the last five years. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Matthews Japan Fund 1st Quarter 2016 Commentary Review of markets and commentary Matthews Japan Fund -  Matthews Japan Fund 1st Quarter 2016 Commentary
For the quarter ending March 31, 2016, the Matthews Japan Fund (Trades, Portfolio) returned 0.21% (Investor Class), while its benchmark, the MSCI Japan Index, returned -6.38%. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Matthews Japan Fund Makes 4 New Buys in 4th Quarter Guru raises more than 4 dozen existing stakes Matthews Japan Fund - 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. More...

  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Matthews Japan Fund 4th Quarter Commentary Review of holdings and economy Matthews Japan Fund - Matthews Japan Fund 4th Quarter Commentary
For the year ending December 31, 2015, the Matthews Japan Fund (Trades, Portfolio) returned 20.83% (Investor Class) outperforming its benchmark, the MSCI Japan Index, which returned 9.90%. For the fourth quarter of the year, the Fund returned 10.42% (Investor Class) versus 9.38% for the Index. More...

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Rating: 0.0/5 (0 votes)

Matthews Japan Fund Comments on Dexerials Guru stock highlight
During the quarter, we initiated a position in Dexerials (TSE:4980), a manufacturer of high-margin niche electronic materials used in display applications. Formerly known as Sony Chemical, the company has thrived since it was spun off a few years ago. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Matthews Japan Fund Comments on TechnoPro Holdings Guru stock highlight
We also added TechnoPro Holdings (TSE:6028), a company that specializes in the staffing of professionals such as mechanical, electrical and software engineers. Labor supply is tight in Japan and we expect the pricing environment to remain favorable for staffing companies with specialized offerings. Both of these companies operate highly cash-generative businesses and are committed to paying out a large portion of their profits to shareholders. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Matthews Japan Fund Buys Seven New Stakes in Third Quarter Investment in dormitory management company tops the list Matthews Japan Fund - Matthews Japan Fund Buys Seven New Stakes In Third Quarter
Matthews Japan Fund (Trades, Portfolio) invests four-fifths of its net assets in Japanese companies. In the third quarter, the Fund added seven new stakes to its portfolio. More...

  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Matthews Japan Fund Third Quarter 2015 Commentary Managers discuss challenging market in Japan and portfolio holdings Matthews Japan Fund - Matthews Japan Fund Third Quarter 2015 Commentary
Period ended September 30, 2015 More...

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Hennessy Japan Fund Adds to 16 Stakes Fund buys no new stakes and sells no existing ones in quarter Hennessy Japan Fund,Matthews Japan Fund,T. Rowe Pr - Hennessy Japan Fund Adds To 16 Stakes
The Hennessy Japan Fund (Trades, Portfolio) pursues long-term capital appreciation by investing four-fifths of its net assets in Japanese companies. It hasn’t bought any new stakes or sold out any of its old ones since early this year, but it added to 16 existing stakes in the quarter ended July 31, including some of the most valuable in its portfolio. More...

  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Matthews Japan Fund Adds to Each of Its 10 Most Valuable Stakes Matthews Japan Fund - Matthews Japan Fund Adds To Each Of Its 10 Most Valuable Stakes
Like many investors, the Matthews Japan Fund (Trades, Portfolio) struggled last year, but that took nothing away from its recent track record, which includes a return of better than 34% in 2013. The Matthews Japan Fund (Trades, Portfolio) prefers to invest at least four-fifths of its net assets, and in the second quarter of 2015, it added to each of its 10 most valuable stakes. More...

Matthews Japan Fund, Japan


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Matthews Japan Fund Comments on Fanuc Corp
Meanwhile, we significantly trimmed our position in robotics company FANUC (TSE:6954). Though we applaud the company’s new shareholder return policy, we believe the share price has moved away from fundamentals, which is becoming increasingly challenging with declining market share in numerical control and decelerating capital investment by smartphone manufacturers. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Matthews Japan Fund Comments on Kyoritsu Maintenance Co Ltd
During the quarter, we added Kyoritsu Maintenance (TSE:9616), an operator of hotels and dormitories. Hotel operations have been benefiting from the influx of inbound tourists, which has pushed up both occupancy and prices. The company plans to aggressively invest in the expansion of its hotel portfolio and given their track record, we are quite optimistic on its ability to execute. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Matthews Japan Fund Comments on Ryohin Keikaku Co Ltd
By sector, consumer discretionary was the main driver of the Fund’s outperformance versus the benchmark. Japan’s consumption environment is slowly improving as the rise in nominal wages is prompting consumers to spend a little more on quality. Ryohin Keikaku (TSE:7453), the owner of the MUJI retail brand of clothing and housewares, is benefiting from this recovery and performed solidly during the quarter. More...

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Rating: 0.0/5 (0 votes)

Matthews Japan Fund Comments on Benefit One Inc
Benefit One (TSE:2412), a provider of outsourced employee benefit plans, was the top contributor to performance during the second quarter. Its growth is accelerating on the back of an expanding membership base for its health care, incentive and personal benefits services. We are a bit more cautious than before on the firm as valuations have re-rated, but continue to see solid momentum in its business. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Matthews Japan Fund Q2 2015 Commentary
For the first half of 2015, the Matthews Japan Fund (Trades, Portfolio) gained 22.29% (Investor Class), outperforming its benchmark, the MSCI Japan Index, which returned 13.79%. For the quarter ending June 30, the Fund returned 4.18% (Investor Class), outperforming the benchmark, which returned 3.12%. More...

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Rating: 0.0/5 (0 votes)

Matthews Japan Fund Adds 3 New Stocks in Q1 Matthews Japan Fund - Matthews Japan Fund Adds 3 New Stocks In Q1
During the first quarter, the Matthews Japan Fund (Trades, Portfolio) acquired three new stocks whose prices surged during the period, according to GuruFocus Real Time Picks. More...

MATTHEWS JAPAN FUND, JAPAN, ASIA


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Matthews Japan Fund Comments on Komatsu Ltd
During the quarter, we increased our exposure to construction and mining equipment company Komatsu (TSE:6301). Its business has been under pressure due to low commodity prices but Komatsu is a solidly managed business with a globally recognized brand and financials that we believe can comfortably endure the current adverse conditions. Although we expect the tough business conditions to continue for the time being, we believe valuations are attractive relative to other companies of similar quality and global presence. More...

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