Here's a hidden champion trading at a fraction of what its worth. Murakami Corp is a leading (if not the leading) manufacturer of automobile rearview mirrors in the world.

The numbers:

EV/TTM EBIT of 1.12x. EV/TTM EBITDA of 0.73x. EV/Most recent year FCF of 1.65x. Trading at half of tangible book value despite growing book value by over 14% during three out of the last four years. Historic ROIC over last four years of ~25%+.

Caveats: As with the other Japanese companies I've posted here and will post here, I can't read the financial statements for this company. So I'm investing in them just based on the numbers I get from Financial Times, MSN Money, and the Japan Company Handbook. I keep my Japanese company position sizes small to reflect this.

As another caveat, Murakami has the largest order block size requirement of any Japanese company I've seen. You have to buy shares in 1,000 blocks, and the trading price is currently 1,420Y per share. So a minimum $ value investment is about $14,000 just to get your foot in the door.