'Big Short' investor Michael Burry is on the hunt for cheap, underappreciated stocks. Here are 8 Japanese companies he's invested in right now.

Market cap (USD): 982.15 million

Year-to-date performance: down 8%

The company leases construction machinery and tools.

"They run a tight ship from a credit perspective, and maintain their equipment for high resale at auction," Burry told Bloomberg.

Market cap (USD): $578.48 million

Year-to-date performance: up 52%

Burry called Tosei an "opportunistic player in urban real estate," praised its management, and noted the company is "executing in every facet of the business."

Market cap (USD): $334.34 million

Year-to-date performance: down 1%

Altech "will benefit from recent immigration reforms as it expands into agriculture and patient care areas," Burry told Bloomberg. The company provides mechanics and engineers for-hire to a growing portfolio of industries.

Market cap (USD): $277.53 million

Year-to-date performance: up 3%

The car mirror company forecasts growth and stock buybacks, but it won't be enough help the shares recover from a 35% drop in 2018, Burry said.

"Situations like that call for more dramatic action, and I'd like to see large tender offers for one-third or more of the shares, large special dividends. I just have not seen that, and there is a long way to go."

Market cap (USD): $254.22 million

Year-to-date performance: down 9%

Burry forecasts the stock surging on "a high beta to the sector as the inventory of tech components is finished off and growth resumes." Nippon produces mechanical seals, gaskets, and packing supplies, according to Bloomberg.

Market cap (USD): $195.15 million

Year-to-date performance: down 49%

The company "should pay down debt to improve cash flow and to put it in a position for another acquisition," Burry told Bloomberg. Sansei makes elevators and theme park rides.

Market cap (USD): $129.64 million

Year-to-date performance: down 3%

Yotai produces materials used in electric furnaces, and should buy back stock with its 4.4 billion yen reserves, Burry said.

Market cap (USD): $116.63 million

Year-to-date performance: up 64%

The producer of chip-making tools "needs to invest in its business to develop the potential of the markets it serves," Burry told Bloomberg.