Source: Reproduces the target criteria implied by the Tokyo Stock Exchange's request on "management conscious of cost of capital and stock price" (2023)
PBR below 1x, combined with low ROE and a cash-rich balance sheet: exactly the profile the Tokyo Stock Exchange is pressuring to improve capital efficiency. These names are more likely to see catalysts such as dividend hikes, buybacks, or unwinding of cross-shareholdings — conditions activist investors also favor.
Free, no login. The button opens the screener with the above conditions applied.
Data comes from annual securities reports disclosed on EDINET (Japan FSA), via EDINET DB. Price-related values are as of each company's fiscal year-end (back-calculated from the disclosed trailing PER), not live quotes. Coverage: all TSE-listed companies, with names added progressively.
Net cash exceeds market cap (ratio of 1.0+) — in theory, you'd get change back after buying the whole company.