PRJPX
T. Rowe Price Japan Fund
T. ROWE PRICE INTERNATIONAL FUNDS, INC.
Expense ratio1
1.14%
Net assets2
$321.92M
Holdings2
75
Category
International Equity
2025 return3
32.23%

Investment objective & strategy

As of Dec. 22, 2025 · prospectus

Objective. The fund seeks long-term growth of capital through investments in common stocks of companies located (or with primary operations) in Japan.

Strategy. The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in companies located (or with primary operations) in Japan. The fund relies on MSCI Inc., a third-party provider of benchmark indexes and data services, or another unaffiliated data provider to determine the country assigned to a security. Any derivatives that provide exposure to the investment focus suggested by the funds name, or to one or more market risk factors associated with the investment focus suggested by the funds name, are counted (as applicable) toward compliance with the funds 80% investment policy. The fund may purchase the stocks of companies of any size and seeks to invest across a wide range of Japanese industries … The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in companies located (or with primary operations) in Japan. The fund relies on MSCI Inc., a third-party provider of benchmark indexes and data services, or another unaffiliated data provider to determine the country assigned to a security. Any derivatives that provide exposure to the investment focus suggested by the funds name, or to one or more market risk factors associated with the investment focus suggested by the funds name, are counted (as applicable) toward compliance with the funds 80% investment policy. The fund may purchase the stocks of companies of any size and seeks to invest across a wide range of Japanese industries and companies. While the adviser invests with an awareness of the advisers outlook for industries and sectors within the country, the advisers decision-making process focuses on bottom-up stock selection. The fund takes a core approach to stock selection, which does not emphasize either growth or value styles of investing. The adviser relies on a global team of investment analysts dedicated to in-depth fundamental research in an effort to identify high-quality companies capable of achieving and sustaining above-average, long-term earnings growth. The adviser seeks to purchase stocks of companies at reasonable prices in relation to present or anticipated earnings, cash flow, or book value. Sector and style exposures are closely managed, and the focus of security selection is on opportunities where the adviser sees upside relative to the risks priced in the market (asymmetric risk-reward). In selecting investments the adviser generally favors companies with one or more of the following characteristics: ? leading or improving market position; ? attractive business niche; ? attractive or improving franchise or industry position; ? seasoned management; ? stable or improving revenues, earnings, and/or cash flow; and ? sound or improving balance sheet. At times, the fund may have a significant portion of its assets invested in the same economic sector.

Top holdings

As of Jan. 31, 2026 · N-PORT
SecurityTickerValue% of fund
MITSUBISHI UFJ F $21.19M 6.58%
TOYOTA MOTOR CORP $13.92M 4.32%
ITOCHU CORP $12.28M 3.82%
RECRUIT HOLDINGS $11.93M 3.71%
ORIX CORP $10.75M 3.34%
SONY GROUP CORP $9.56M 2.97%
MS&AD INSURANCE $9.46M 2.94%
SUMITOMO CORP $8.69M 2.70%
RESONA HOLDINGS $8.60M 2.67%
RENESAS ELECTRON $8.39M 2.61%
View all holdings →

Allocation by sector

As of January 31, 2026 · N-PORT
View portfolio breakdown →

Portfolio moves

Oct 31, 2025 → Jan 31, 2026
Opened
6
Exited
10
Increased
17
Decreased
49
Unchanged
3

How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.

View portfolio moves →

Similar funds

Funds whose portfolios most overlap this one, by weight
FundOverlapNet exp.
Matthews Japan Fund · MJFOX, MIJFX 31% 1.08%
Matthews Japan Active ETF · JPAN 31% 0.79%
Fidelity SAI Japan Stock Index Fund · FSJPX 31% 0.12%
View all similar funds →

Advisers

As of October 31, 2025 · N-CEN
FirmRole
T. Rowe Price Associates, Inc. Adviser
T. Rowe Price Japan, Inc. Sub-adviser

Footnotes

  1. Expense ratio as of December 22, 2025, from the fund's prospectus.
  2. Net assets and holdings count as of January 31, 2026, from the fund's N-PORT filing.
  3. Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).

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