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.
From Matthews Japan Fund (Trades, Portfolio)’s Q2 2015 Commentary.
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