Firms listed on the Tokyo Stock Exchange's first section had an average price-to-book-value ratio
under one, which is usually an indication they are oversold.
In 1980, it was trading at a price-to-book-value ratio
of about 1-to-1, or right at the book value of the tangible assets.
And to ferret out companies with a rock-solid base, Price looks for stocks with a price-to-book-value ratio
of two or less.
The firm also offers in-depth, updated performance reports on all 12 companies tracked in any of the 24 city indexes, including net income, sales, return on equity and price-to-book-value ratio
, for $15 per report; regional reports are available for $25 each (call Nordby International's Data-on-Demand service for a financial profile of any publicly traded company for $25 at 800-925-9664).