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    8035   JP3571400005

TOKYO ELECTRON LTD

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Japanese shares jump on strong Wall St finish, tech firms shine

12/27/2021 | 10:06pm EDT

TOKYO, Dec 28 (Reuters) - Japanese shares jumped on Tuesday, with heavyweight technology stocks leading the charge, after strong U.S. retail sales data drove Wall Street to a strong overnight finish and eased some fears around the Omicron COVID-19 variant.

Also powering risk sentiment, data showed a surge in Japan's factory output in November as production in the auto sector benefited from a recovery in global parts supplies.

The Nikkei share average rose 1% to 28,956.90 by 0220 GMT, after advancing as much as 1.6% to surpass the 29,000 level for the first time since Dec. 16.

The broader Topix gained 0.89% to 1,995.37.

Wall Street's S&P 500 index ended at a record high in its fourth straight day of gains, as an ecommerce-powered boom in U.S. retail sales underscored economic strength and eased worries from Omicron-driven flight cancellations that hit travel stocks.

"Sentiment is strong with gains in the U.S. equities last night. The Japanese market will keep the momentum if the U.S. market remains strong," said Takatoshi Itoshima, strategist at Pictet Asset Management.

"But most participants are short-term investors, with many long-term investors away for the holiday season, such investors may sell shares to gain profits if the market keeps rising."

Technology stocks led gains, with chip-making equipment maker Tokyo Electron rising 1.77%, air-conditioner maker Daikin Industries climbing 2.21% and robot maker Fanuc gaining 1.81%.

Precision makers gained the most among the 33 industry subindexes on the bourse, with optical glass maker Hoya rising 1.36% and medical equipment and camera maker Olympus jumping 3.22%.

Kewpie advanced 2.2% after the mayonnaise maker raised its forecast for annual profit and dividend.

Casual clothing retailer Shimamura jumped 4.6% after posting a 25% jump in its nine-month net profit. (Reporting by Junko Fujita; Editing by Devika Syamnath)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
DAIKIN INDUSTRIES, LTD. -0.41% 19365 Delayed Quote.-25.47%
FANUC CORPORATION -2.18% 20370 Delayed Quote.-14.58%
KEWPIE CORPORATION -0.37% 2159 Delayed Quote.-12.62%
OLYMPUS CORPORATION 1.00% 2716 Delayed Quote.1.49%
SHIMAMURA CO., LTD. 0.09% 11010 Delayed Quote.13.87%
TOKYO ELECTRON LTD -2.39% 57280 Delayed Quote.-11.47%
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Analyst Recommendations on TOKYO ELECTRON LTD
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Financials
Sales 2022 1 951 B 15 320 M 15 320 M
Net income 2022 420 B 3 301 M 3 301 M
Net cash 2022 352 B 2 761 M 2 761 M
P/E ratio 2022 21,2x
Yield 2022 2,37%
Capitalization 8 921 B 70 111 M 70 056 M
EV / Sales 2022 4,39x
EV / Sales 2023 3,62x
Nbr of Employees 14 479
Free-Float 95,2%
Chart TOKYO ELECTRON LTD
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Tokyo Electron Ltd Technical Analysis Chart | 8035 | JP3571400005 | MarketScreener
Technical analysis trends TOKYO ELECTRON LTD
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 57 280,00 JPY
Average target price 62 558,90 JPY
Spread / Average Target 9,22%
EPS Revisions
Managers and Directors
Toshiki Kawai Chief Operating Officer, Director & Vice President
Tetsuo Tsuneishi Director
Charles Ditmars Lake Independent Outside Director
Micho Sasaki Independent Outside Director
Akiko Eda Independent Outside Director
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