ITOCHU Corp Faces a -1.54% Impact in T. Rowe Price Japan Fund’s Latest Moves #JapanFinance

T. Rowe Price Japan Fund (Trades, Portfolio) recently submitted its N-PORT filing for the fourth quarter of 2024, shedding light on its strategic investment decisions during this period. The T. Rowe Price Japan Fund (Trades, Portfolio) is known for its focus on Japanese companies, investing at least 80% of its net assets in a diverse range of industries within Japan. The fund aims to identify companies with the potential for sustained, above-average long-term earnings growth, employing a growth-oriented investment style. The fund’s strategy is supported by a global team of investment analysts dedicated to conducting in-depth fundamental research to pinpoint companies capable of achieving such growth. T. Rowe Price seeks to acquire stocks of these companies at reasonable valuations relative to their current or anticipated earnings, cash flow, or book value. The fund typically favors companies with strong market positions, attractive business niches, seasoned management, and stable or improving financial metrics.

T. Rowe Price Japan Fund (Trades, Portfolio) added a total of 7 stocks, among them:

• The most significant addition was Kawasaki Heavy Industries Ltd (TSE:7012), with 53,000 shares, accounting for 0.93% of the portfolio and a total value of 2,455,080 million.

• The second largest addition to the portfolio was Honda Motor Co Ltd (TSE:7267), consisting of 184,700 shares, representing approximately 0.68% of the portfolio, with a total value of 1,803,990 million.

• The third largest addition was Subaru Corp (TSE:7270), with 84,000 shares, accounting for 0.57% of the portfolio and a total value of 1,507,790 million.

T. Rowe Price Japan Fund (Trades, Portfolio) also increased stakes in a total of 7 stocks, among them:

• The most notable increase was Shin-Etsu Chemical Co Ltd (TSE:4063), with an additional 67,600 shares, bringing the total to 164,100 shares. This adjustment represents a significant 70.05% increase in share count, a 0.87% impact on the current portfolio, with a total value of 5,529,870 million.

• The second largest increase was Seven & i Holdings Co Ltd (TSE:3382), with an additional 111,900 shares, bringing the total to 656,800. This adjustment represents a significant 20.54% increase in share count, with a total value of 10,393,620 million.

T. Rowe Price Japan Fund (Trades, Portfolio) completely exited 4 holdings in the fourth quarter of 2024, as detailed below:

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T. Rowe Price Japan Fund (Trades, Portfolio) also reduced positions in 60 stocks. The most significant changes include:

• Reduced ITOCHU Corp (TSE:8001) by 82,100 shares, resulting in a -25.99% decrease in shares and a -1.54% impact on the portfolio. The stock traded at an average price of 7,685.22 during the quarter and has returned -6.31% over the past 3 months and -8.08% year-to-date.

• Reduced Recruit Holdings Co Ltd (TSE:6098) by 45,800 shares, resulting in a -28.13% reduction in shares and a -0.98% impact on the portfolio. The stock traded at an average price of 10,111.9 during the quarter and has returned 6.70% over the past 3 months and -5.79% year-to-date.

At the fourth quarter of 2024, T. Rowe Price Japan Fund (Trades, Portfolio)’s portfolio included 74 stocks. The top holdings included 5.85% in Sony Group Corp (TSE:6758), 5.29% in Mitsubishi UFJ Financial Group Inc (TSE:8306), 4.41% in ITOCHU Corp (TSE:8001), 4.39% in Hitachi Ltd (TSE:6501), and 3.94% in Seven & i Holdings Co Ltd (TSE:3382).

The holdings are mainly concentrated in 10 of the 11 industries: Industrials, Financial Services, Technology, Consumer Cyclical, Basic Materials, Communication Services, Consumer Defensive, Healthcare, Energy, and Real Estate.

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