Matthews Japan Fund

Portfolio Holdings: 3/31/2018

This portfolio data should not be relied upon as a complete listing of this Fund's holdings, as information on a particular holding may be withheld if it is in the Fund's best interest to do so.

Security Sector Shares Value
Keyence Corp. Information Technology 233,900 146,107,534
Nitori Holdings Co., Ltd. Consumer Discretionary 762,300 133,681,481
Mitsubishi UFJ Financial Group, Inc. Financials 19,844,500 131,878,952
Asahi Intecc Co., Ltd. Health Care 3,025,400 121,832,809
Suzuki Motor Corp. Consumer Discretionary 2,243,300 121,796,279
Nidec Corp. Industrials 777,900 119,725,618
M3, Inc. Health Care 2,378,600 109,291,723
Sysmex Corp. Health Care 1,181,300 107,335,214
Kao Corp. Consumer Staples 1,414,400 106,183,949
Kose Corp. Consumer Staples 504,500 106,057,481
Relo Group, Inc. Real Estate 3,697,500 103,311,798
Persol Holdings Co., Ltd. Industrials 3,413,600 99,187,985
Mitsui & Co., Ltd. Industrials 5,573,400 95,906,315
SoftBank Group Corp. Telecom Services 1,278,300 95,350,010
Sumitomo Mitsui Financial Group, Inc. Financials 2,229,600 94,589,178
Tokio Marine Holdings, Inc. Financials 2,058,000 93,315,603
Recruit Holdings Co., Ltd. Industrials 3,647,900 91,429,590
Daikin Industries, Ltd. Industrials 802,100 89,107,813
TechnoPro Holdings, Inc. Industrials 1,460,700 88,162,937
Otsuka Corp. Information Technology 1,694,200 86,375,044
Nihon M&A Center, Inc. Industrials 2,427,600 84,075,944
Shimadzu Corp. Information Technology 2,834,600 78,192,660
Kyowa Exeo Corp. Industrials 2,875,100 76,959,710
Start Today Co., Ltd. Consumer Discretionary 2,854,400 74,292,857
Shin-Etsu Chemical Co., Ltd. Materials 708,200 73,871,762
Denso Corp. Consumer Discretionary 1,337,800 73,585,005
PeptiDream, Inc. Health Care 1,336,900 73,323,303
ORIX Corp. Financials 4,059,600 72,751,975
Mabuchi Motor Co., Ltd. Industrials 1,451,200 72,194,156
ITOCHU Techno-Solutions Corp. Information Technology 3,484,400 71,981,780
Rohm Co., Ltd. Information Technology 749,000 71,095,711
Ryohin Keikaku Co., Ltd. Consumer Discretionary 211,600 70,693,625
Murata Manufacturing Co., Ltd. Information Technology 511,500 70,603,449
Dai-ichi Life Holdings, Inc. Financials 3,792,500 70,015,149
MINEBEA MITSUMI, Inc. Industrials 3,248,000 69,837,579
Pigeon Corp. Consumer Staples 1,512,700 68,346,585
Nifco, Inc. Consumer Discretionary 2,007,000 67,577,396
San-A Co., Ltd. Consumer Staples 1,168,800 67,331,097
Ariake Japan Co., Ltd. Consumer Staples 818,400 65,643,220
Lasertec Corp. Information Technology 1,785,500 65,084,867
Infomart Corp. Information Technology 6,342,800 64,577,796
Tsuruha Holdings, Inc. Consumer Staples 447,200 64,362,326
Nitto Denko Corp. Materials 812,800 61,430,717
Seria Co., Ltd. Consumer Discretionary 1,236,000 61,113,595
Hitachi, Ltd. Information Technology 8,082,000 58,866,113
Japan Tobacco, Inc. Consumer Staples 2,052,700 58,639,513
Square Enix Holdings Co., Ltd. Information Technology 1,240,200 56,011,727
CKD Corp. Industrials 2,551,100 55,524,986
Japan Lifeline Co., Ltd. Health Care 1,930,000 55,227,309
Komatsu, Ltd. Industrials 1,629,500 54,586,564
Aica Kogyo Co., Ltd. Industrials 1,335,400 49,167,087
MISUMI Group, Inc. Industrials 1,767,700 48,957,597
Sanwa Holdings Corp. Industrials 3,775,800 48,687,121
SMC Corp. Industrials 119,200 48,490,451
Outsourcing, Inc. Industrials 2,639,900 46,180,867
JINS, Inc. Consumer Discretionary 831,500 45,822,649
Fuso Chemical Co., Ltd. Materials 1,738,700 44,769,461
Harmonic Drive Systems, Inc. Industrials 657,200 37,028,418
Net Cash n.a. 226,577,950


The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or a recommendation to buy or sell securities or other investments.

Portfolio holdings are subject to change without notice and may not represent current or future portfolio composition.

Unlike the Fund’s regulatory filings, the portfolio data and its presentation in this document are not required to conform to Generally Accepted Accounting Principles (GAAP) and Securities and Exchange Commission (SEC) presentation requirements. Therefore, it differs from that in the complete statement of investments in the annual and semiannual report to shareholders filed with the SEC on Form N-CSR, and the complete statement of investments provided in the first and third quarter SEC Form N-Q filings for each fiscal year.

You should carefully consider the investment objectives, risks, charges and expenses of the Matthews Asia Funds before making an investment decision. A prospectus with this and other information about the Funds may be obtained by visiting matthewsasia.com. Please read the prospectus carefully before investing as it explains the risks associated with investing in international and emerging markets. 

Matthews Asia Funds are distributed in the United States by Foreside Funds Distributors LLC
Matthews Asia Funds are distributed in Latin America by HMC Partners