Japan equity memo: Top-ranked stocks included in investment trusts (as of end-June)

Research evidence excerpt

Japan equity memo: Top-ranked stocks included in investment trusts (as of end-June)

lute weightings remain high (Figure2). This is

consistent with the most recent QUICK weekly survey, which showed a sharp increase in

popularity for financials, a drop in the popularity of electric appliances & precision

instruments, as well as with investment trust data as of end-June showing overweighting

of bank stocks and a decline in the overweighting of electric appliances (see our 14 July

2026 report Japanequitymemo).

Fig. 1: Changes in most popular stocks in publicly offered active Japanese equity

investment trusts (since March 2026)

2026/3 2026/4 2026/5 2026/6

8306 Mitsubishi UFJ Financial Group 8306 Mitsubishi UFJ Financial Group 8306 Mitsubishi UFJ Financial Group 8306 Mitsubishi UFJ Financial Group

7203 Toyota Motor 8316 Sumitomo Mitsui Financial Group 8316 Sumitomo Mitsui Financial Group 8035 Tokyo Electron

8316 Sumitomo Mitsui Financial Group 7203 Toyota Motor 8035 Tokyo Electron 8316 Sumitomo Mitsui Financial Group

8766 Tokio Marine Holdings 8766 Tokio Marine Holdings 7203 Toyota Motor 6981 Murata Manufacturing

8031 Mitsui & Co 6501 Hitachi 6501 Hitachi 8766 Tokio Marine Holdings

6501 Hitachi 8035 Tokyo Electron 6981 Murata Manufacturing 7203 Toyota Motor

6758 Sony Group 8031 Mitsui & Co 8766 Tokio Marine Holdings 6501 Hitachi

8035 Tokyo Electron 5802 Sumitomo Electric Industries 5802 Sumitomo Electric Industries 285A Kioxia Holdings

5801 Furukawa Electric 5801 Furukawa Electric 9984 SoftBank Group 8411 Mizuho Financial Group

8058 Mitsubishi Corp 6758 Sony Group 8591 Orix 5802 Sumitomo Electric Industries

Note: Based on information on the top 10 stocks held by active Japanese equity investment trusts with AUM of ¥50bn or