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    6178   JP3752900005

JAPAN POST HOLDINGS CO., LTD.

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Nikkei snaps 8-day losing streak on bargain-hunting, but Topix slips

10/07/2021 | 02:54am EST

TOKYO, Oct 7 (Reuters) - Japan's Nikkei share average rose on Thursday after eight consecutive sessions of losses, as signs of progress in U.S. political negotiations over debt ceiling offered a catalyst for bargain-hunting but the broader Topix failed to maintain gains.

Investors bought back battered shares that had been beaten down recently on worries central banks might pare stimulus faster than expected due to rising concerns about higher inflation worldwide.

The Nikkei average added 0.54% to 27,678.21 but the broader Topix failed to sustain earlier gains to end 0.12% lower at 1,939.62, marking the ninth consecutive day of losses, which is its longest losing spell since 2012.

Decliners outnumbered gainers by a rough ratio of 3 to 2 , also pointing to a still fragile market sentiment.

"When the market began to look cheap after the Nikkei has fallen back to 27,000-handle, we had a possible extension of U.S. debt ceiling, so short-covering came in," said Naoya Oshikubo, senior economist at Sumitomo Mitsui Trust Asset Management.

The U.S. Senate appeared close to reaching a temporary deal to avert a federal debt default in the next two weeks, after Democrats said they might accept a Republican proposal to defuse the partisan standoff that threatens the broader economy.

Volatile shippers bounced back, with their index rising 4.8% after having lost almost a third of its value in the previous eight sessions.

MSCI's semiconductor-related shares index rose 1.3%, with Tokyo Electron up 1.6% and Screen Holdings adding 1.5%.

Elsewhere, Welcia rose 5.9% after the drugstore chain operator posted brisk earnings results in the three months to August.

But Aeon lost 6.1% after the supermarket chain operator's earnings disappointed investors.

Japan Post Holdings lost 0.6% after the government said it would sell up to 1.03 billion shares, which at Wednesday's closing price would be worth 952 billion yen ($8.52 billion).

To reduce the impact, the firm announced a share buyback of up to 100 billion yen. (Reporting by Hideyuki Sano; Editing by Subhranshu Sahu and Krishna Chandra Eluri)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AEON CO., LTD. 2.24% 2812 End-of-day quote.-16.93%
JAPAN POST HOLDINGS CO., LTD. -0.30% 884.3 End-of-day quote.10.15%
SCREEN HOLDINGS CO., LTD. 1.89% 11830 End-of-day quote.55.66%
TOKYO ELECTRON LIMITED 2.81% 62910 End-of-day quote.63.83%
WELCIA HOLDINGS CO., LTD. -0.13% 3905 End-of-day quote.0.26%
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Analyst Recommendations on JAPAN POST HOLDINGS CO., LTD.
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Financials
Sales 2022 10 722 B 94 243 M 94 243 M
Net income 2022 454 B 3 988 M 3 988 M
Net Debt 2022 121 436 B 1 067 B 1 067 B
P/E ratio 2022 7,86x
Yield 2022 5,65%
Capitalization 3 331 B 29 267 M 29 283 M
EV / Sales 2022 11,6x
EV / Sales 2023 11,6x
Nbr of Employees 243 612
Free-Float 64,4%
Chart JAPAN POST HOLDINGS CO., LTD.
Duration : Period :
Japan Post Holdings Co., Ltd. Technical Analysis Chart | 6178 | JP3752900005 | MarketScreener
Technical analysis trends JAPAN POST HOLDINGS CO., LTD.
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 10
Last Close Price 884,30 JPY
Average target price 1 028,89 JPY
Spread / Average Target 16,4%
EPS Revisions
Managers and Directors
Hiroya Masuda President & Chief Executive Officer
Akio Mimura Independent Outside Director
Tadashi Yagi Independent Outside Director
Kunio Ishihara Independent Outside Director
Charles Ditmars Lake Independent Outside Director