Get Premium to unlock powerful stock data

T. Rowe Price Japan Fund's Top 5 Holdings as of 3rd Quarter

Fund releases quarterly portfolio

Author's Avatar
James Li
Oct 22, 2021

Summary

  • Fund enters a small position in Nippon Sanso Holdings.
  • Fund’s top holding as of the third quarter is hardware company Keyence.
  • Other top holdings include Hoshizaki, Suzuki and Daikin.
Article's Main Image

The

T. Rowe Price Japan Fund (Trades, Portfolio) released its third-quarter portfolio earlier this week, revealing that it entered a small stake in Nippon Sanso Holdings Corp. (TSE:4091, Financial). As of quarter-end, the fund’s top four holdings are Keyence Corp. (TSE:6861, Financial), Hoshizaki Corp. (TSE:6465, Financial), Suzuki Motor Corp. (TSE:7269, Financial) and Daikin Industries Ltd. (TSE:6367, Financial).

Managed by Archibald Ciganer, the Baltimore-based fund seeks long-term capital appreciation by investing more than 80% of its capital in Japanese companies and industries. The fund’s security selection reflects a growth style: T. Rowe Price seeks to purchase stocks that have improving market conditions, attractive business niche, improving franchise position, stable cash flows and financially-sound balance sheets.

1451632029438541824.png

As of Sept. 30, the fund’s $1.01 billion equity portfolio contains 65 stocks with a turnover ratio of 1%. The fund’s top four sectors in terms of weight are industrials, technology, health care and communication services, representing 32.53%, 18.13%, 13.45% and 12.09% of the equity portfolio.

1451634724132061184.png

Nippon Sanso Holdings

The fund purchased 195,900 shares of Nippon Sanso Holdings (

TSE:4091, Financial), giving the position 0.49% weight in the equity portfolio. Shares averaged 2,589.71 yen ($22.83) during the third quarter; the stock is modestly overvalued based on Friday’s price-to-GF Value ratio of 1.16.

1451640993945452544.png

GuruFocus ranks the chemical company’s profitability 7 out of 10 on the back of a high Piotroski F-score of 8 and three-year revenue and earnings growth rates that outperform more than 60% of global competitors.

1451644704734281728.png

Keyence

The fund owns 93,100 shares of Keyence (

TSE:6861, Financial), down 2,400 shares from the second-quarter holding. Shares occupy 5.50% of the equity portfolio.

1451646080772177920.png

Shares of the hardware company averaged 63,722.7 yen during the third quarter; the stock is significantly overvalued based on Friday’s price-to-GF Value ratio of 1.57.

1451649128777089024.png

GuruFocus ranks Keyence’s financial strength 10 out of 10 on several positive investing signs, which include a triple-digit Altman Z-score and no long-term debt.

1451649865884073984.png

Hoshizaki

The fund owns 537,800 shares of Hoshizaki (

TSE:6465, Financial), down 13,700 shares from the second-quarter holding. Shares occupy 4.84% of the equity portfolio.

1451651352391548928.png

Shares of Hoshizaki averaged 9916.51 yen ($87.39) during the third quarter; the stock is modestly overvalued based on Friday’s price-to-GF Value ratio of 1.16.

1451651997420978176.png

GuruFocus ranks the industrial company’s financial strength 9 out of 10 on several positive investing signs, which include a high Altman Z-score of 6.07 and an interest coverage ratio that outperforms more than 91% of global competitors.

1451653272220958720.png

Suzuki

The fund owns 1,054,700 shares of Suzuki (

TSE:7269, Financial), down 26,900 shares from the second-quarter filing. Shares occupy 4.66% of the equity portfolio.

1451654157667893248.png

Shares of the automobile company averaged 4,750.49 yen during the third quarter; the stock is fairly valued based on Friday’s price-to-GF Value ratio of 1.07.

1451657471398739968.png

GuruFocus ranks Suzuki’s financial strength 6 out of 10 on the back of interest coverage and debt ratios outperforming more than 70% of global competitors despite a moderately weak Altman Z-score of 2.77.

1451659325725704192.png

Daikin

The fund owns 170,100 shares of Daikin (

TSE:6367, Financial), down 4,500 shares from the second-quarter holding. Shares occupy 3.67% of the equity portfolio.

1451660996426039296.png

Shares of the air conditioning company averaged 25005.8 yen during the third quarter; the stock is significantly overvalued based on Friday’s price-to-GF Value ratio of 1.51.

1451661761370619904.png

GuruFocus ranks Daikin’s financial strength 7 out of 10 on several positive investing signs, which include a high Piotroski F-score of 7, a strong Altman Z-score of 4.84 and an interest coverage ratio that outperforms more than 68% of global competitors.

1451663795272515584.png

Also check out:
Not a Premium Member of GuruFocus? Sign up for a free 7-day trial here.

Disclosures

I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
The views of this author are solely their own opinion and are not endorsed or guaranteed by GuruFocus.com
Rating:
0 / 5 (0 votes)

Please Login to leave a comment

Author's Avatar