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    9983   JP3802300008

FAST RETAILING CO., LTD.

(9983)
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Japanese shares erase early gains as slow vaccination woes weigh on heavyweights

05/16/2021 | 11:17pm EDT

TOKYO, May 17 (Reuters) - Japanese shares erased early gains and edged down on Monday, as worries about slow-paced domestic vaccination rollouts weighed on sentiment, with index heavyweights including Tokyo Electron Ltd leading declines.

The Nikkei share average lost 1.18%% to 27,753.83 by 0235 GMT, after rising as much as 0.8% earlier in the session, while the broader Topix edged down 0.36% to 1,876.62.

"Japanese tech shares could have tracked Nasdaq's higher today but they didn't. That means the market has negative reasons that are unique to Japan," said Norihiro Fujito, chief investment strategist, Mitsubishi UFJ Morgan Stanley Securities.

"The biggest reason is slow rollouts of vaccines. That weighs on business sentiment, which prompted investors to sell the Nikkei's heavyweights."

Chipmaking equipment maker supplier Tokyo Electron fell 3.68%, becoming the biggest drag on Nikkei.

Other heavyweights also lost ground, with SoftBank Group losing 1.13% and Fast Retailing, operator of Uniqlo clothing stores, down 1.9%.

On Friday, Japan expanded a state of emergency to three more prefectures in a surprise move that reflects growing concern about the spread of the coronavirus.

While medical resources are being pushed to the brink, Japan's inoculation drive has been the slowest among advanced nations, with just 3% of the population vaccinated, according to Reuters data.

Honda Motor fell 3.22%, as the automaker warned semiconductor shortages and higher raw material costs would curb growth in the current year.

Seven & i Holdings fell 3.89% after U.S. officials raised competitive concerns over the Japanese retailer's acquisition of 3,900 Speedway gas and convenience stores from Marathon Petroleum Corp.

(Reporting by Junko Fujita; Editing by Rashmi Aich)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
FAST RETAILING CO., LTD. -0.64% 72780 End-of-day quote.-21.29%
HONDA MOTOR CO., LTD. 0.03% 3417 End-of-day quote.18.75%
SEVEN & I HOLDINGS CO., LTD. -0.59% 4745 End-of-day quote.29.68%
SOFTBANK GROUP CORP. 0.55% 6610 End-of-day quote.-17.97%
TOKYO ELECTRON LIMITED 4.40% 50750 End-of-day quote.32.16%
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Analyst Recommendations on FAST RETAILING CO., LTD.
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Financials
Sales 2021 2 182 B 19 211 M 19 211 M
Net income 2021 165 B 1 453 M 1 453 M
Net cash 2021 546 B 4 805 M 4 805 M
P/E ratio 2021 45,2x
Yield 2021 0,68%
Capitalization 7 434 B 65 375 M 65 457 M
EV / Sales 2021 3,16x
EV / Sales 2022 2,99x
Nbr of Employees 57 727
Free-Float 51,4%
Chart FAST RETAILING CO., LTD.
Duration : Period :
Fast Retailing Co., Ltd. Technical Analysis Chart | 9983 | JP3802300008 | MarketScreener
Technical analysis trends FAST RETAILING CO., LTD.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 14
Last Close Price 72 780,00 JPY
Average target price 82 319,57 JPY
Spread / Average Target 13,1%
EPS Revisions
Managers and Directors
Tadashi Yanai Chairman, President & Group CEO
Takeshi Okazaki CFO, Director & Group Senior Executive Officer
Masaaki Shintaku Independent Outside Director
Toru Hambayashi Independent Outside Director
Nobumichi Hattori Independent Outside Director
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