Matthews Japan Fund

Portfolio Holdings: 12/31/2018

Security Sector Shares Value
Tokio Marine Holdings, Inc. Financials 2,250,400 106,913,631
Nippon Telegraph & Telephone Corp. Communication Services 2,415,000 98,530,363
Keyence Corp. Information Technology 191,900 96,995,063
Mitsubishi UFJ Financial Group, Inc. Financials 18,483,200 90,709,173
Terumo Corp. Health Care 1,555,200 87,721,249
Nitori Holdings Co., Ltd. Consumer Discretionary 694,700 87,004,453
Kose Corp. Consumer Staples 551,500 86,628,456
ORIX Corp. Financials 5,227,600 76,385,291
SoftBank Group Corp. Communication Services 1,150,700 75,369,923
Kyowa Exeo Corp. Industrials 3,090,000 72,352,953
Asahi Intecc Co., Ltd. Health Care 1,673,200 70,785,472
Nidec Corp. Industrials 614,100 69,483,554
ITOCHU Techno-Solutions Corp. Information Technology 3,404,100 65,918,828
Relo Group, Inc. Real Estate 2,810,900 65,651,920
Sony Corp. Consumer Discretionary 1,284,000 61,901,149
Murata Manufacturing Co., Ltd. Information Technology 454,300 61,216,845
Denso Corp. Consumer Discretionary 1,381,400 61,151,384
Recruit Holdings Co., Ltd. Industrials 2,471,700 59,713,142
Sanwa Holdings Corp. Industrials 4,976,200 56,499,331
Daikin Industries, Ltd. Industrials 521,200 55,380,342
Ariake Japan Co., Ltd. Consumer Staples 824,500 53,486,093
Kao Corp. Consumer Staples 714,800 52,907,808
Mitsui & Co., Ltd. Industrials 3,387,500 52,043,222
Suzuki Motor Corp. Consumer Discretionary 1,011,700 51,001,255
Nifco, Inc. Consumer Discretionary 2,146,600 50,785,959
Aica Kogyo Co., Ltd. Industrials 1,511,500 50,542,278
PALTAC Corp. Consumer Discretionary 1,068,200 50,377,242
NET One Systems Co., Ltd. Information Technology 2,818,100 49,708,399
Pigeon Corp. Consumer Staples 1,159,100 49,438,743
Mitsubishi Corp. Industrials 1,693,400 46,427,199
Nihon M&A Center, Inc. Industrials 2,297,300 46,239,809
San-A Co., Ltd. Consumer Staples 1,177,800 44,530,211
Shin-Etsu Chemical Co., Ltd. Materials 569,200 43,733,248
PeptiDream, Inc. Health Care 1,090,500 43,053,375
M3, Inc. Health Care 3,195,100 43,041,919
Rohm Co., Ltd. Information Technology 667,500 42,603,195
Shimadzu Corp. Information Technology 2,112,800 41,664,089
Infomart Corp. Information Technology 4,512,300 41,192,662
Persol Holdings Co., Ltd. Industrials 2,644,700 39,230,058
Lasertec Corp. Information Technology 1,522,200 38,869,692
Nakanishi, Inc. Health Care 2,276,800 38,824,214
Seria Co., Ltd. Consumer Discretionary 1,112,500 37,833,634
Ryohin Keikaku Co., Ltd. Consumer Discretionary 150,200 36,465,960
Otsuka Corp. Information Technology 1,309,800 36,047,607
MINEBEA MITSUMI, Inc. Industrials 2,193,300 31,627,414
Sysmex Corp. Health Care 652,900 31,006,939
MISUMI Group, Inc. Industrials 1,385,900 29,196,435
TechnoPro Holdings, Inc. Industrials 707,700 29,073,869
Fuso Chemical Co., Ltd. Materials 1,538,700 27,819,514
SMC Corp. Industrials 90,500 27,247,074
Outsourcing, Inc. Industrials 2,831,300 27,079,157
ZOZO, Inc. Consumer Discretionary 1,333,200 24,425,648
CKD Corp. Industrials 2,164,800 18,315,523
Mercari, Inc. Consumer Discretionary 643,200 10,737,493
Net Cash n.a. 28,684,859


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