Matthews Japan Fund

Portfolio Holdings: 31 December 2018

Security Sector Shares Value
Tokio Marine Holdings, Inc. Financials 332,400 15,856,721
Nippon Telegraph & Telephone Corp. Communication Services 363,900 14,866,694
Keyence Corp. Information Technology 28,300 14,350,901
Mitsubishi UFJ Financial Group, Inc. Financials 2,730,500 13,405,023
Terumo Corp. Health Care 229,700 13,015,357
Nitori Holdings Co., Ltd. Consumer Discretionary 103,800 13,011,133
Kose Corp. Consumer Staples 81,400 12,837,366
ORIX Corp. Financials 772,200 11,327,678
SoftBank Group Corp. Communication Services 169,900 11,323,465
Kyowa Exeo Corp. Industrials 456,400 10,732,934
Asahi Intecc Co., Ltd. Health Care 247,100 10,453,021
Nidec Corp. Industrials 90,700 10,311,298
ITOCHU Techno-Solutions Corp. Information Technology 508,900 9,839,440
Relo Group, Inc. Real Estate 415,200 9,744,864
Sony Corp. Consumer Discretionary 189,600 9,163,535
Murata Manufacturing Co., Ltd. Information Technology 67,100 9,159,828
Denso Corp. Consumer Discretionary 204,000 9,061,173
Recruit Holdings Co., Ltd. Industrials 365,100 8,852,870
Sanwa Holdings Corp. Industrials 743,900 8,477,924
Daikin Industries, Ltd. Industrials 76,900 8,212,912
Ariake Japan Co., Ltd. Consumer Staples 121,800 7,901,020
Kao Corp. Consumer Staples 105,500 7,831,669
Mitsui & Co., Ltd. Industrials 500,400 7,709,461
PALTAC Corp. Consumer Discretionary 159,600 7,565,882
Suzuki Motor Corp. Consumer Discretionary 149,400 7,551,369
Nifco, Inc. Consumer Discretionary 317,100 7,530,296
Aica Kogyo Co., Ltd. Industrials 223,200 7,496,088
NET One Systems Co., Ltd. Information Technology 424,700 7,484,228
Pigeon Corp. Consumer Staples 171,200 7,322,693
Mitsubishi Corp. Industrials 255,200 7,026,277
Nihon M&A Center, Inc. Industrials 339,300 6,871,051
San-A Co., Ltd. Consumer Staples 177,500 6,697,832
Shin-Etsu Chemical Co., Ltd. Materials 84,000 6,556,176
PeptiDream, Inc. Health Care 161,100 6,392,021
M3, Inc. Health Care 472,000 6,360,181
Rohm Co., Ltd. Information Technology 98,600 6,333,849
Shimadzu Corp. Information Technology 312,100 6,180,364
Infomart Corp. Information Technology 666,600 6,090,598
Nakanishi, Inc. Health Care 343,100 5,847,710
Persol Holdings Co., Ltd. Industrials 390,700 5,839,476
Lasertec Corp. Information Technology 224,800 5,748,408
Seria Co., Ltd. Consumer Discretionary 164,300 5,556,889
Otsuka Corp. Information Technology 197,400 5,430,036
Ryohin Keikaku Co., Ltd. Consumer Discretionary 22,100 5,351,304
MINEBEA MITSUMI, Inc. Industrials 324,000 4,706,531
Sysmex Corp. Health Care 96,400 4,607,693
MISUMI Group, Inc. Industrials 204,700 4,330,162
TechnoPro Holdings, Inc. Industrials 104,500 4,311,910
Fuso Chemical Co., Ltd. Materials 230,000 4,147,602
Outsourcing, Inc. Industrials 419,400 4,033,765
SMC Corp. Industrials 13,300 4,021,911
ZOZO, Inc. Consumer Discretionary 196,900 3,611,893
CKD Corp. Industrials 319,800 2,724,412
Mercari, Inc. Consumer Discretionary 95,000 1,586,642
Net Cash 6,499,051 6,499,051


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.

Investors should ascertain from their professional advisers the consequences of investing in the Fund under the relevant laws of the jurisdictions to which they are subject, including the tax consequences and any exchange control requirement. Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund before making an investment decision. The current prospectus contains this and other information. Applications for shares may only be made on the Fund’s most recent prospectus which is available at global.matthewsasia.com. Please read the prospectus carefully before investing.