Chinese companies were excluded to reduce the likelihood of accounting inconsistencies and outright fraud.
Financial companies and those with no revenue were excluded.
Companies with market caps exceeding $1 billion were excluded.
Markets analysed: U.S., Japan, UK, Germany, Switzerland, Italy, Netherlands, France.
Zero net-nets were found in Germany, Italy, and Switzerland.
Total net-nets found across all analysed markets was 59.
Japan had the most net-nets, at 52.
Stock prices are given for Japanese net-nets. That’s because exchanges here require a minimum of 100 shares to be bought (1 lot), which can get expensive. I personally buy the cheapest ones with the highest discount to NCAV.
Japan
Ticker
Description
Stock Price (JPY)
P/NCAV
4764
NEXUS BANK CO LTD
138
0.37
6416
KATSURAGAWA ELECTRIC CO
646
0.38
3600
FUJIX LTD
1581
0.41
8046
MARUFUJI SHEET PILING CO
2047
0.45
6142
FUJI SEIKO LIMITED
1320
0.47
4957
YASUHARA CHEMICAL CO
549
0.47
8152
SOMAR CORPORATION
1855
0.49
6943
NKK SWITCHES CO LTD
4280
0.50
7922
SANKO SANGYO CO
339
0.50
6303
SASAKURA ENGINEERING CO
2580
0.50
6390
KATO WORKS CO LTD
916
0.51
6964
SANKO CO LTD
474
0.53
7537
MARUBUN CORP
785
0.53
6794
FOSTER ELECTRIC CO
930
0.53
5921
KAWAGISHI BRIDGE WORKS CO LTD
3000
0.54
3504
MARUHACHI HOLDINGS CO LTD
786
0.54
7887
NANKAI PLYWOOD CO
5550
0.54
2917
OHMORIYA CO LTD
816
0.56
8139
NAGAHORI CORP
178
0.56
8249
TECHNO ASSOCIE CO
1053
0.56
7427
ECHO TRADING CO
636
0.56
6804
HOSIDEN CORP
947
0.57
7422
TOHO LAMAC CO
3020
0.57
9885
CHARLE CO LTD
492
0.57
2055
NICHIWA SANGYO CO
324
0.58
9995
GLOSEL CO LTD
423
0.59
6927
HELIOS TECHNO HOLDING CO LTD
328
0.59
5900
DAIKEN CO LTD
713
0.59
6249
GAMECARD-JOYCO HLDGS INC
1255
0.59
5979
KANESO CO. LTD.
4110
0.59
6496
NAKAKITA SEISAKUSHO
2675
0.59
7758
SEKONIC CORPORATION
1036
0.60
3808
O K W A V E
266
0.60
7314
ODAWARA AUTO-MACHINE MFG CO LTD
559
0.60
6986
FUTABA CORP
806
0.61
7235
TOKYO RADIATOR MFG CO
605
0.62
9967
SAKAI TRADING CO
2190
0.63
1793
OHMOTO GUMI CO
5780
0.63
5461
CHUBU STEEL PLATE CO. LTD.
824
0.63
3952
CHUOH PACK INDUSTRY CO. LTD.
1118
0.63
6916
I-O DATA DEVICE INC
917
0.63
5956
TOSO CO LTD
532
0.64
6346
KIKUKAWA ENTERPRISE INC
3910
0.64
1905
TENOX CORP
862
0.64
7467
HAGIWARA ELECTRIC HLDS CO LTD
2338
0.65
7399
NANSIN CO LTD
573
0.65
6771
IKEGAMI TSUSHINKI CO
789
0.65
8013
NAIGAI CO LTD
354
0.66
6715
NAKAYO INC
1412
0.66
5449
OSAKA STEEL CO LTD
1232
0.66
6022
AKASAKA DIESELS
1640
0.67
5983
IWABUCHI CORP
5680
0.67
France
Ticker
Description
P/NCAV
MLMGL
MAGILLEM
0.38
MLBAT
BATLA MINERALS
0.39
ALCYB
CYBERGUN
0.29
ALCOF
COFIDUR
0.63
U.S.A.
Ticker
Description
P/NCAV
NVFY
Nova Lifestyle, Inc
0.49
ENZN
Enzon Pharmaceuticals, Inc.
0.64
U.K.
Ticker
Description
P/NCAV
SCHO
SCHOLIUM GROUP PLC ORD 1P
0.53
Netherlands
Ticker
Description
P/NCAV
DGB
DGB GROUP N.V.
0.38
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