Governance and capital-efficiency reform

12 of the 100 companies match this theme. Each had a price-to-book ratio below 1 on the latest reference close.

• INPEX (1605)

  PBR was 0.91x on 2 October 2026: a reference close of ¥3,696 against book value per share of ¥4,073.44 (the fiscal year to December 2025).

• Asahi Group Holdings (2502)

  PBR was 0.77x on 2 October 2026: a reference close of ¥1,572 against book value per share of ¥2,053.15 (the fiscal year to December 2025).

• Nippon Steel (5401)

  PBR was 0.61x on 2 October 2026: a reference close of ¥642.5 against book value per share of ¥1,058.19 (the fiscal year to March 2026).

• Japan Post Holdings (6178)

  PBR was 0.71x on 2 October 2026: a reference close of ¥2,465 against book value per share of ¥3,461.65 (the fiscal year to March 2026).

• Denso (6902)

  PBR was 0.89x on 2 October 2026: a reference close of ¥1,808 against book value per share of ¥2,040.42 (the fiscal year to March 2026).

• Toyota Motor (7203)

  PBR was 0.93x on 2 October 2026: a reference close of ¥2,856.5 against book value per share of ¥3,062.82 (the fiscal year to March 2026).

• Honda Motor (7267)

  PBR was 0.55x on 2 October 2026: a reference close of ¥1,664.5 against book value per share of ¥3,035.91 (the fiscal year to March 2026).

• Sumitomo Mitsui Financial Group (8316)

  PBR was 0.80x on 2 October 2026: a reference close of ¥3,321 against book value per share of ¥4,135.71 (the fiscal year to March 2026).

• Central Japan Railway (9022)

  PBR was 0.68x on 2 October 2026: a reference close of ¥3,621 against book value per share of ¥5,306.02 (the fiscal year to March 2026).

• Nippon Yusen (9101)

  PBR was 0.94x on 2 October 2026: a reference close of ¥7,141 against book value per share of ¥7,575.98 (the fiscal year to March 2026).

• Mitsui O.S.K. Lines (9104)

  PBR was 0.85x on 2 October 2026: a reference close of ¥7,137 against book value per share of ¥8,365.13 (the fiscal year to March 2026).

• Kansai Electric Power (9503)

  PBR was 0.85x on 2 October 2026: a reference close of ¥2,632.5 against book value per share of ¥3,101.43 (the fiscal year to March 2026).

Method: themes