Insight into T. Rowe Price Japan Fund (Trades, Portfolio)'s Q4 2023 Investment Moves
T. Rowe Price Japan Fund (Trades, Portfolio), known for its strategic investments in a diverse range of Japanese companies, has revealed its N-PORT filing for the fourth quarter of 2023. The fund is committed to identifying companies with the potential for sustainable, above-average earnings growth over the long term. With a focus on growth style investing, T. Rowe Price Japan Fund (Trades, Portfolio) leverages its global team of analysts to conduct thorough fundamental research. The fund's investment decisions are often influenced by factors such as market leadership, niche business models, strong management teams, and solid financials.
Summary of New Buys
T. Rowe Price Japan Fund (Trades, Portfolio) expanded its portfolio with the addition of 3 new stocks:
- SUMCO Corp (TSE:3436, Financial) was the most significant new entry, with 438,000 shares, making up 2.08% of the portfolio and valued at ¥6.55 billion.
- Horiba Ltd (TSE:6856, Financial) followed, with 57,500 shares, representing 1.42% of the portfolio, and a total value of ¥4.48 billion.
- SoftBank Group Corp (TSE:9984, Financial) was also added, with 73,300 shares, accounting for 1.03% of the portfolio and a total value of ¥3.24 billion.
Key Position Increases
The fund also bolstered its stakes in 8 companies:
- Kuraray Co Ltd (TSE:3405, Financial) saw a substantial increase of 349,400 shares, bringing the total to 555,800 shares. This represents a 169.28% jump in share count, impacting the portfolio by 1.12%, and a total value of ¥5.61 billion.
- Inpex Corp (TSE:1605, Financial) also experienced a significant boost with an additional 225,000 shares, totaling 644,400 shares, and a portfolio value of ¥8.62 billion.
Summary of Sold Out Positions
The fund exited its positions in 10 companies, with notable exits including:
- Honda Motor Co Ltd (TSE:7267, Financial), where all 1,493,700 shares were sold, impacting the portfolio by -4.06%.
- Astellas Pharma Inc (TSE:4503, Financial), with a complete sell-off of 606,700 shares, resulting in a -2.03% portfolio impact.
Key Position Reductions
Reductions were made in 50 stocks, with significant cuts in:
- Mitsubishi UFJ Financial Group Inc (TSE:8306, Financial) by 968,300 shares, a -48.45% decrease, affecting the portfolio by -1.98%. The stock's average trading price was ¥1,244.42 during the quarter.
- Sony Group Corp (TSE:6758, Financial) by 64,500 shares, a -30.21% reduction, with a -1.27% portfolio impact. The stock's average trading price was ¥12,830.6 during the quarter.
Portfolio Overview
As of the fourth quarter of 2023, T. Rowe Price Japan Fund (Trades, Portfolio)'s portfolio consisted of 62 stocks. The top holdings were 4.48% in Sony Group Corp (TSE:6758), 4.4% in ITOCHU Corp (TSE:8001, Financial), 3.49% in Shin-Etsu Chemical Co Ltd (TSE:4063, Financial), 3.11% in Nippon Telegraph & Telephone Corp (TSE:9432, Financial), and 3.04% in Hitachi Ltd (TSE:6501, Financial). The investments span across all 11 industries, with a focus on Industrials, Technology, Basic Materials, Financial Services, Communication Services, Consumer Cyclical, Consumer Defensive, Real Estate, Energy, Healthcare, and Utilities.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
