Below book
Tokyo-listed companies trading below book value — the heart of the TSE governance reform story.
⚠ Sample data. These are fictional companies and invented figures, not real market data, and must not be used for investment decisions.
In 2023 the Tokyo Stock Exchange asked listed companies to address persistently low valuations, and a price-to-book ratio below 1.0 became the shorthand for the problem. These are the companies still below that line.
12companies match of 12 listed companies
6of which earn an ROE of 8% or more
Cheap and unprofitable is often cheap for a reason. Cheap while earning a respectable return on equity is the more interesting list.
Showing 12 of 12
| 0001 | Sample Company ATransportation Equipment · Prime | 0.95 | 12.68 | 10.20% | 3.43% | ¥42.60tn |
| 0002 | Sample Company BBanks · Prime | 0.72 | 10.40 | 8.90% | 3.90% | ¥7.14tn |
| 0003 | Sample Company CWholesale Trade · Prime | 0.83 | 9.10 | 11.40% | 3.09% | ¥4.40tn |
| 0004 | Sample Company DIron & Steel · Prime | 0.61 | 14.20 | 3.10% | 3.72% | ¥3.47tn |
| 0005 | Sample Company EElectric Power & Gas · Prime | 0.75 | 8.30 | 11.70% | 3.35% | ¥2.66tn |
| 0006 | Sample Company FMarine Transportation · Prime | 0.79 | 7.40 | 7.10% | 3.32% | ¥2.44tn |
| 0007 | Sample Company GChemicals · Prime | 0.88 | 13.90 | 6.40% | 2.81% | ¥980bn |
| 0008 | Sample Company HConstruction · Prime | 0.67 | 11.20 | 9.30% | 4.12% | ¥620bn |
| 0009 | Sample Company IRetail Trade · Standard | 0.54 | 16.80 | 2.80% | 2.45% | ¥210bn |
| 0010 | Sample Company JMachinery · Prime | 0.91 | 10.70 | 12.10% | 3.05% | ¥156bn |
| 0011 | Sample Company KMetal Products · Standard | 0.42 | 9.80 | 7.30% | 4.51% | ¥68bn |
| 0012 | Sample Company LPulp & Paper · Standard | 0.30 | – | 2.40% | 2.13% | ¥56bn |
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Valuation and profitability data from kabu.plus. PBR and PER as supplied; ROE from the most recent full-year results.