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Matthews Japan Fund    March 31, 2020
Schedule of Investmentsa (unaudited)   
COMMON EQUITIES: 98.6%   

 

      Shares               Value  

INFORMATION TECHNOLOGY: 23.2%

             

Electronic Equipment, Instruments & Components: 10.6%

 

Keyence Corp.

    194,600     $62,566,345  

Murata Manufacturing Co., Ltd.

    839,700     41,745,482  

TDK Corp.

    428,400     32,939,319  

Shimadzu Corp.

    1,258,200     32,836,789  
    

 

 

 

           170,087,935  
    

 

 

 

Semiconductors & Semiconductor Equipment: 5.8%

  

Lasertec Corp.

    1,118,300     51,855,197  

Disco Corp.

    132,700     25,817,165  

Rohm Co., Ltd.

    278,400     15,112,165  
    

 

 

 

       92,784,527  
    

 

 

 

IT Services: 3.1%

     

ITOCHU Techno-Solutions Corp.

    1,770,600     50,427,338  
    

 

 

 

Software: 2.6%

     

Infomart Corp.

    3,188,900     20,985,124  

Sansan, Inc.b

   360,000     14,977,389  

Freee KKb

   152,600     4,905,276  
    

 

 

 

       40,867,789  
    

 

 

 

Technology Hardware, Storage & Peripherals: 1.1%

  

FUJIFILM Holdings Corp.

    357,400     17,612,515  
    

 

 

 

Total Information Technology

        371,780,104  
    

 

 

 

    

HEALTH CARE: 18.2%

             

Pharmaceuticals: 7.3%

     

Shionogi & Co., Ltd.

    877,600     43,230,121  

Eisai Co., Ltd.

    452,800     33,121,157  

Santen Pharmaceutical Co., Ltd.

    1,356,800     23,285,085  

Takeda Pharmaceutical Co., Ltd.

    584,300     17,790,832  
    

 

 

 

       117,427,195  
    

 

 

 

Health Care Equipment & Supplies: 6.8%

     

Terumo Corp.

    1,826,100     62,564,709  

Asahi Intecc Co., Ltd.

    1,909,700     47,230,833  
    

 

 

 

       109,795,542  
    

 

 

 

Biotechnology: 2.2%

     

PeptiDream, Inc.b

   1,012,000     35,226,805  
    

 

 

 

Health Care Technology: 1.9%

     

M3, Inc.

    1,010,600     29,809,807  
    

 

 

 

Total Health Care

        292,259,349  
    

 

 

 

    

INDUSTRIALS: 17.6%

             

Building Products: 5.9%

     

Daikin Industries, Ltd.

    480,400     57,991,039  

Aica Kogyo Co., Ltd.

    977,400     27,887,635  

Sanwa Holdings Corp.

    1,194,800     9,278,836  
    

 

 

 

       95,157,510  
    

 

 

 

Professional Services: 5.9%

     

Nihon M&A Center, Inc.

    1,510,100     41,128,877  

Recruit Holdings Co., Ltd.

    1,202,500     31,062,114  

TechnoPro Holdings, Inc.

    311,600     14,542,587  
      Shares   Value  

SMS Co., Ltd.

    411,800     $7,941,885  
    

 

 

 

       94,675,463  
    

 

 

 

Construction & Engineering: 2.6%

     

Kyowa Exeo Corp.

    1,889,900     41,909,257  
    

 

 

 

Machinery: 2.4%

     

SMC Corp.

    92,300     38,696,196  
    

 

 

 

Electrical Equipment: 0.8%

     

Nidec Corp.

    240,400     12,388,894  
    

 

 

 

Total Industrials

        282,827,320  
    

 

 

 

    

CONSUMER DISCRETIONARY: 14.3%

             

Household Durables: 4.8%

     

Sony Corp.

    1,307,500     77,447,906  
    

 

 

 

Specialty Retail: 4.6%

     

Nitori Holdings Co., Ltd.

    207,100     27,987,676  

Fast Retailing Co., Ltd.

    59,700     24,360,120  

Hikari Tsushin, Inc.

    132,400     22,154,891  
    

 

 

 

           74,502,687  
    

 

 

 

Distributors: 2.1%

     

PALTAC Corp.

    682,700     33,811,631  
    

 

 

 

Leisure Products: 1.4%

     

Bandai Namco Holdings, Inc.

    468,800     22,738,320  
    

 

 

 

Hotels, Restaurants & Leisure: 0.8%

     

Kyoritsu Maintenance Co., Ltd.

    561,600     12,357,617  
    

 

 

 

Multiline Retail: 0.6%

     

Pan Pacific International Holdings Corp.

    481,700     9,122,106  
    

 

 

 

Total Consumer Discretionary

        229,980,267  
    

 

 

 

    

COMMUNICATION SERVICES: 9.6%

             

Diversified Telecommunication Services: 4.3%

  

Nippon Telegraph & Telephone Corp.

    2,876,900     68,805,721  
    

 

 

 

Entertainment: 3.2%

     

Nintendo Co., Ltd.

    130,500     50,719,297  
    

 

 

 

Wireless Telecommunication Services: 2.1%

  

SoftBank Group Corp.

    960,800     34,014,615  
    

 

 

 

Total Communication Services

        153,539,633  
    

 

 

 

    

FINANCIALS: 5.7%

             

Insurance: 5.0%

     

Tokio Marine Holdings, Inc.

    1,423,900     65,149,930  

Dai-ichi Life Holdings, Inc.

    1,339,000     15,900,801  
    

 

 

 

       81,050,731  
    

 

 

 

Banks: 0.7%

     

Mitsubishi UFJ Financial Group, Inc.

    2,903,800     10,864,726  
    

 

 

 

Total Financials

        91,915,457  
    

 

 

 

    

CONSUMER STAPLES: 5.6%

             

Personal Products: 2.7%

     

Kao Corp.

    528,400     43,047,816  
    

 

 

 

 


 

matthewsasia.com  |  800.789.ASIA   1

Matthews Japan Fund    March 31, 2020
Schedule of Investmentsa (unaudited) (continued)   
COMMON EQUITIES (continued)

 

      Shares   Value  

Food Products: 1.6%

     

Ariake Japan Co., Ltd.

    405,600     $25,597,591  
    

 

 

 

Food & Staples Retailing: 1.3%

     

San-A Co., Ltd.

    496,400     20,650,815  
    

 

 

 

Total Consumer Staples

        89,296,222  
    

 

 

 

    

REAL ESTATE: 3.1%

             

Real Estate Management & Development: 3.1%

  

Mitsui Fudosan Co., Ltd.

    1,551,700     26,867,244  

Relo Group, Inc.

    1,076,800     22,499,420  
    

 

 

 

Total Real Estate

        49,366,664  
    

 

 

 

    

MATERIALS: 1.3%

             

Chemicals: 1.3%

     

Shin-Etsu Chemical Co., Ltd.

    210,200     20,659,973  
    

 

 

 

Total Materials

        20,659,973  
    

 

 

 

    

TOTAL INVESTMENTS: 98.6%

          1,581,624,989  

(Cost $1,540,243,291)

     
CASH AND OTHER ASSETS,
LESS LIABILITIES: 1.4%		        23,152,560  
    

 

 

 

NET ASSETS: 100.0%

        $1,604,777,549  
    

 

 

 

a

Certain securities were fair valued under the valuation policies approved by the Board of Trustees.

 

b

Non-income producing security.

Other information regarding the Fund is available in the Funds’ most recent report to shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).

 


 

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