The $649.1 million T. Rowe Price Japan Fund (Trades, Portfolio) purchased five new stocks in the third quarter, according to a filing released this week.
The fund bought Ono Pharmaceutical Co. Ltd. (TSE:4528, Financial), Money Forward Inc. (TSE:3994, Financial), Fast Retailing Co. Ltd. (TSE:9983, Financial), Kansai Paint Co. Ltd. (TSE:4613, Financial) and UT Group Co. Ltd. (TSE:2146, Financial). The purchases brought its total number of holdings to 84, with the highest weighting occurring in industrials at 26.5%, consumer cyclical at 20.8% and technology at 11%.
Over the past year, the T. Rowe Price Japan Fund (Trades, Portfolio) returned 16.93% versus 16.29% for the TOPIX Index. Since inception in 1991, it gained 2.89% annualized, compared to 1.09% for the Lipper Japanese Funds Average (the TOPIX benchmark index did not exist at the time of inception).
The manager of the fund since 2013 is Archibald Ciganer.
New buys
Ono Pharmaceutical Co. Ltd. (TSE:4528, Financial)
The fund purchased 220,300 shares, giving it a 0.79% portfolio weight. The share price of the company averaged 2,359.92 yen for the third quarter.
Ono Pharmaceutical Co. Ltd. has a market cap of 1,330.19 billion yen; its shares were traded around 2,643.50 yen with a P/E ratio of 25.42 and P/S ratio of 5.55. The trailing 12-month dividend yield of Ono Pharmaceutical Co. Ltd. is 1.74%. The forward dividend yield of Ono Pharmaceutical Co. Ltd. is 1.74%. Ono Pharmaceutical Co. Ltd. had an annual average earnings growth of 9.3% over the past five years.
Money Forward Inc. (TSE:3994, Financial)
The fund purchased 133,900 shares, giving it a 0.58% portfolio weight. The company’s share price averaged 3,085 yen per share for the quarter.
Money Forward Inc. has a market cap of 54.84 billion yen; its shares were traded around 2,986.00 yen.
Fast Retailing Co. Ltd. (TSE:9983, Financial)
The fund purchased 9,800 shares, giving it 0.45% portfolio weight. The company’s share price averaged 3,3064.31 yen per share for the quarter.
Fast Retailing Co. Ltd. has a market cap of 3,698.24 billion yen; its shares were traded around 3,6480.00 yen with a P/E ratio of 38.14 and P/S ratio of 2.02. The trailing 12-month dividend yield of Fast Retailing Co. Ltd. is 0.96%. The forward dividend yield of Fast Retailing Co. Ltd. is 0.96%. Fast Retailing Co. Ltd. had an annual average earnings growth of 9.80% over the past 10 years. GuruFocus rated Fast Retailing Co. Ltd. the business predictability rank of 4.5-star.
Kansai Paint Co. Ltd. (TSE:4613, Financial)
The fund purchased 106,500 shares of Kansai Paint Co. Ltd., giving it 0.42% portfolio weight. The company’s share price averaged 2,674 yen for the quarter.
Kansai Paint Co Ltd. has a market cap of 711.28 billion yen; its shares were traded around 2,760.00 yen with a P/E ratio of 32.01 and P/S ratio of 2.35. The trailing 12-month dividend yield of Kansai Paint Co. Ltd. is 0.89%. The forward dividend yield of Kansai Paint Co. Ltd. is 0.98%. Kansai Paint Co. Ltd. had an annual average earnings growth of 7.90% over the past 10 years.
UT Group Co. Ltd. (TSE:2146, Financial)
The fund purchased 122,000 shares, giving it 0.38% portfolio weight. The average price for the company was 2,079 yen for the quarter.
UT Group Co. Ltd. has a market cap of 88.53 billion yen; its shares were traded around 2,142.00 yen with a P/E ratio of 39.88 and P/S ratio of 1.36. The trailing 12-month dividend yield of UT Group Co. Ltd. is 0.73%. The forward dividend yield of UT Group Co. Ltd. is 1.47%. UT Group Co. Ltd. had an annual average earnings growth of 23.50% over the past five years.
See the T. Rowe Price Japan Fund (Trades, Portfolio) stock portfolio here.
