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    8035   JP3571400005

TOKYO ELECTRON LIMITED

(8035)
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Japanese shares fall as techs track Nasdaq's weak finish

10/20/2021 | 10:56pm EST

TOKYO, Oct 21 (Reuters) - Japanese shares fell on Thursday as the Nasdaq's weak overnight finish hurt risk appetite, prompting investors to sell heavyweight technology stocks, but expectations for strong earnings results from domestic firms limited losses.

The Nikkei share average was down 0.30% to 29,167.69 by 0211 GMT, while the broader Topix fell 0.26% to 2,022.30.

Overnight, the S&P 500 and the Dow rose, with the Dow hitting an intraday record high, while the Nasdaq lagged as technology stocks took a breather.

"The Nasdaq's weak finish affected shares such as SoftBank Group, and Recruit, which is seen as an equivalent of the GAFA because it owns U.S. job research engine," said Norihiro Fujito, chief investment strategist, Mitsubishi UFJ Morgan Stanley Securities.

Global technology start-up investor SoftBank Group fell as much as 2.16% earlier in the session before edging up 0.07%.

Staffing agency Recruit Holdings, which has built footsteps in the U.S. through employment site Indeed, fell 1.62%.

Chip-making equipment maker Tokyo Electron dragged the Nikkei the most, falling 2.73% but snapped its early losses of as much as 3.9%.

Other Japanese chip related shares also fell after the weaker-than-expected earnings of semiconductor companies ASML and Lam Research, but results were not so pessimistic when examining details, Fujito said.

"We can expect strong earnings from Tokyo Electron as there is a demand for chips, which is why the stock has pared its early losses."

Airlines, down 1.93%, lost the most among the exchange's 33 industry subindexes amid concerns about a possible resurgence of the COVID-19 infections as cases in the UK rose.

Oil related shares shined as oil prices rose.

Nippon Paint Holdings advanced 2.93% after the world's fourth largest paint company announced an acquisition of decorative paints specialist Cromology.

(Reporting by Junko Fujita; Editing by Krishna Chandra Eluri)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ASML HOLDING N.V. -1.38% 681.2 Real-time Quote.73.74%
LAM RESEARCH CORPORATION -0.01% 661.47 Delayed Quote.40.06%
NIPPON PAINT HOLDINGS CO., LTD. -0.75% 1190 End-of-day quote.-47.48%
RECRUIT HOLDINGS CO., LTD. 2.17% 7191 End-of-day quote.66.42%
SOFTBANK GROUP CORP. -0.71% 5559 End-of-day quote.-31.01%
TOKYO ELECTRON LIMITED -0.47% 59300 End-of-day quote.54.43%
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Analyst Recommendations on TOKYO ELECTRON LIMITED
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Financials
Sales 2022 1 912 B 16 958 M 16 958 M
Net income 2022 409 B 3 622 M 3 622 M
Net cash 2022 341 B 3 024 M 3 024 M
P/E ratio 2022 22,6x
Yield 2022 2,21%
Capitalization 9 233 B 81 652 M 81 867 M
EV / Sales 2022 4,65x
EV / Sales 2023 4,24x
Nbr of Employees 14 479
Free-Float 95,2%
Chart TOKYO ELECTRON LIMITED
Duration : Period :
Tokyo Electron Limited Technical Analysis Chart | 8035 | JP3571400005 | MarketScreener
Technical analysis trends TOKYO ELECTRON LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 59 300,00 JPY
Average target price 59 845,95 JPY
Spread / Average Target 0,92%
EPS Revisions
Managers and Directors
Toshiki Kawai President, CEO & Representative Director
Tetsuo Tsuneishi Chairman
Charles Ditmars Lake Independent Outside Director
Micho Sasaki Independent Outside Director
Akiko Eda Independent Outside Director
Sector and Competitors
1st jan.Capi. (M$)
TOKYO ELECTRON LIMITED54.43%81 652
ASML HOLDING N.V.73.74%315 092
LAM RESEARCH CORPORATION40.06%93 134
ENTEGRIS, INC.54.05%20 062
ASE TECHNOLOGY HOLDING CO., LTD.34.07%16 823
QORVO, INC.-10.28%16 524