Matthews Japan Fund


Top 10 Holdings as of 8/31/2019

Security Sector % Net Assets
Tokio Marine Holdings, Inc. Financials 4.6
Nippon Telegraph & Telephone Corp. Communication Services 3.9
Keyence Corp. Information Technology 3.6
Sony Corp. Consumer Discretionary 3.1
Nitori Holdings Co., Ltd. Consumer Discretionary 3.1
ITOCHU Techno-Solutions Corp. Information Technology 2.9
Kao Corp. Consumer Staples 2.9
Relo Group, Inc. Real Estate 2.8
NET One Systems Co., Ltd. Information Technology 2.7
SoftBank Group Corp. Communication Services 2.6
Total 32.2
Top 10 holdings may combine more than one security from the same issuer and related depositary receipts.
Source: BNY Mellon Investment Servicing (US) Inc.

Portfolio Breakdown (%) as of 6/30/2019

  Fund MSCI Japan IndexDifference
Industrials 23.8 21.4 2.4
Information Technology 18.7 11.2 7.5
Health Care 14.8 9.0 5.8
Consumer Discretionary 14.3 18.4 -4.1
Consumer Staples 9.1 8.2 0.9
Communication Services 8.2 8.8 -0.6
Financials 6.3 10.7 -4.4
Real Estate 2.5 4.1 -1.6
Materials 1.1 5.5 -4.4
Utilities 0.0 1.8 -1.8
Energy 0.0 0.9 -0.9
Cash and Other Assets, Less Liabilities 1.1 0.0 1.1
  Fund MSCI Japan Index Difference
Mega Cap (over $25B) 31.5 49.4 -17.9
Large Cap ($10B-$25B) 15.5 25.7 -10.2
Mid Cap ($3B-$10B) 26.0 24.0 2.0
Small Cap (under $3B) 25.9 0.9 25.0
Cash and Other Assets, Less Liabilities 1.1 0.0 1.1
Equity market cap of issuer.
Source: FactSet Research Systems.

Portfolio Characteristics as of 6/30/2019

Number of Securities1

53

Weighted Average
Market Cap

$22.7 billion

P/E using FY1 estimates

18.4x

P/E using FY2 estimates

17.2x

1Source: BNY Mellon Investment Servicing (US) Inc.
Source: FactSet Research Systems unless otherwise noted. Sector data (excluding Government Bonds) based on MSCI’s revised Global Industry Classification Standards. For more details, visit www.msci.com.

Additional performance, attribution, liquidity, value at risk (VaR), security classification and holdings information is available on request for certain time periods.

Percentage values in data are rounded to the nearest tenth of one percent, so the values may not sum to 100% due to rounding.  Percentage values may be derived from different data sources and may not be consistent with other Fund literature. 

The P/E Ratio is the share price of a stock as of the report date, divided by the forecasted earnings per share for a 12-month period (FY1) and 24 month period (FY2). For the Fund, this is the weighted harmonic average estimated P/E ratio of all the underlying stocks in the Fund, excluding negative earners. There is no guarantee that the composition of the Fund will remain unchanged, or that forecasted earnings of a stock will be realized. Information provided is for illustrative purposes only.

Index Definitions

The information contained in this document does not, in any way, constitute investment advice. It should not be assumed that any investment will be profitable or will equal the performance of the portfolios or any securities or any sectors mentioned herein. The information does not constitute a recommendation to buy or sell any securities mentioned. Information on this document is from sources considered reliable, but no representation or warranty is made as to its completeness or accuracy.

1There was an increase in the number of securities this quarter due to the Matthews Japan Fund merger with the Japan Fund of Nomura Partners Funds, Inc. To learn more about this merger, please view the press release.