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DAIKIN INDUSTRIES, LTD.

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Japanese shares end lower on rate hike worries, Omicron

12/17/2021 | 01:21am EDT

TOKYO, Dec 17 (Reuters) - Japanese shares fell on Friday to erase most gains made in the previous session, as investors turned cautious about rate increase after the U.S. and British central banks took hawkish steps, while fears over the Omicron coronavirus variant hit travel-related stocks.

The Nikkei share average lost 1.79% to close at 28,545.68, after rising more than 2% on Thursday. The index edged up 0.38% for the week.

The broader Topix lost 1.42% to 1,984.47 but posted a 0.46% gain.

"Today's decline is a natural reaction to the Fed's monetary tightening. The market jumped yesterday because those who had shorted Japanese shares bought back stocks," said Tomoichiro Kubota, senior market analyst at Matsui Securities.

"Towards the end of the year, investors will remain largely cautious about the monetary tightening."

On Wednesday, the Fed said it would accelerate a tapering of its bond-buying stimulus to end the program in March, setting up three quarter-point rate increases next year.

The Bank of England overnight also surprised markets by becoming the first major global central bank to raise interest rates.

In Japan, technology shares tracked sharp overnight losses in U.S. peers on Nasdaq, with chip-related Tokyo Electron leading Nikkei declines, losing 3.18%.

Air-conditioning maker Daikin Industries fell 2.59% and technology investor SoftBank Group 2.87%.

Travel-related shares were hit after a report on the first case of a domestically-acquired Omicron infection.

Airlines and railways lost 1.26% and 1.49%, respectively. Oriental Land, the operator of the Tokyo Disney Resort, lost 4.4%.

(Editing by Rashmi Aich)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.87% 0.70335 Delayed Quote.-4.31%
BRITISH POUND / US DOLLAR (GBP/USD) 1.29% 1.24847 Delayed Quote.-9.40%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.08% 0.779 Delayed Quote.-2.04%
DAIKIN INDUSTRIES, LTD. -0.68% 20570 Delayed Quote.-20.62%
EURO / US DOLLAR (EUR/USD) 0.99% 1.05436 Delayed Quote.-8.55%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.49% 0.012915 Delayed Quote.-3.88%
MATSUI SECURITIES CO LTD -1.43% 829 Delayed Quote.6.32%
NASDAQ COMP. -1.20% 11662.79 Real-time Quote.-25.45%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.87% 0.63648 Delayed Quote.-7.99%
NIKKEI 225 0.42% 26659.75 Real-time Quote.-7.80%
ORIENTAL ENTERPRISE HOLDINGS LIMITED 1.54% 0.66 Delayed Quote.-2.99%
ORIENTAL LAND CO., LTD. 0.33% 17995 Delayed Quote.-7.53%
SOFTBANK GROUP CORP. 0.23% 5122 Delayed Quote.-5.96%
TOKYO ELECTRON LTD 1.79% 58040 Delayed Quote.-13.97%
TOPIX INDEX 0.19% 1866.71 Delayed Quote.-6.48%
WALT DISNEY COMPANY (THE) -2.00% 105.18 Delayed Quote.-30.71%
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Financials
Sales 2022 3 012 B 23 325 M 23 325 M
Net income 2022 219 B 1 695 M 1 695 M
Net cash 2022 152 B 1 176 M 1 176 M
P/E ratio 2022 27,7x
Yield 2022 0,94%
Capitalization 6 061 B 46 945 M 46 945 M
EV / Sales 2022 1,96x
EV / Sales 2023 1,77x
Nbr of Employees 84 870
Free-Float 91,7%
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Daikin Industries, Ltd. Technical Analysis Chart | 6367 | JP3481800005 | MarketScreener
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Mean consensus OUTPERFORM
Number of Analysts 16
Last Close Price 20 710,00 JPY
Average target price 25 659,38 JPY
Spread / Average Target 23,9%
EPS Revisions
Managers and Directors
Masanori Togawa Director & Managing Executive Officer
Koichi Takahashi GM-Accounting, Finance & Manager-Budget
Noriyuki Inoue Director
Takashi Matsuzaki Senior Managing Executive Officer
Jiro Tomita Executive Officer & GM-Air Conditioning Production
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