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    9107   JP3223800008

KAWASAKI KISEN KAISHA, LTD.

(9107)
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Japanese shares track Wall Street higher as Fed affirms taper plan

11/04/2021 | 01:42am EST

TOKYO, Nov 4 (Reuters) - Japanese shares ended higher on Thursday, tracking cues from a Wall Street rally after the U.S. Federal Reserve unveiled plans to trim bond purchases, though a plunge in shipping firm Kawasaki Kisen despite a record quarterly profit capped gains.

The Nikkei share average climbed 0.93% higher to close at 29,794.37, while the broader Topix jumped 1.18% to 2,055.56.

Major indexes in the Wall Street marked closing record highs overnight after the U.S. central bank announced plans to begin tapering its bond purchases, while it said it would not rush to raise interest rates.

"The market tracked the gains in Wall Street, but the rally took a pause before the Nikkei got closer to 30,000," said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities.

"Investors became cautious about market reactions to earnings results because even if some companies showed a positive outcome, shares could fall just because market expectations were too high."

Shares in Nippon Yusen and Kawasaki Kisen tumbled even as Japan's biggest and third-biggest shipping companies by sales, respectively, delivered record quarterly profit as they benefited from higher freight rates amid the chaos hitting global supply chains

Nippon Yusen tumbled 8.11% despite its estimate-beating record profit.

The heavy losses led the shipping sector to fall 6.25% to make it the worst performer among the 33 industry sub-indexes on the Tokyo Stock Exchange.

Toyota Motor gained 0.73% after the automaker reported a better-than-expected 48% rise in second-quarter operating profit and raised its earnings outlook as it benefited from a rebound in vehicle demand and a weaker yen.

Fujifilm Holdings jumped 4.79% after the medical equipment maker raised its annual net profit outlook.

Shares of Nippon Steel rose 1.71% after Japan's top steelmaker lifted its annual net profit outlook by 41%.

Konica Minolta shares tanked 8.57% after the office equipment maker cut its annual profit forecast. (Editing by Sherry Jacob-Phillips)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
FUJIFILM HOLDINGS CORPORATION -1.23% 7800 Delayed Quote.-8.52%
KAWASAKI KISEN KAISHA, LTD. -0.61% 6570 Delayed Quote.-5.06%
KONICA MINOLTA, INC. -1.71% 518 Delayed Quote.-1.15%
NIPPON STEEL CORPORATION -1.40% 1904.5 Delayed Quote.1.38%
NIPPON YUSEN KABUSHIKI KAISHA -2.11% 8370 Delayed Quote.-4.45%
TOPIX INDEX -0.59% 1927.18 Real-time Quote.-2.70%
TOYOTA MOTOR CORPORATION -2.48% 2284.5 Delayed Quote.8.50%
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Financials
Sales 2022 697 B 6 129 M 6 129 M
Net income 2022 462 B 4 066 M 4 066 M
Net Debt 2022 244 B 2 144 M 2 144 M
P/E ratio 2022 1,33x
Yield 2022 4,85%
Capitalization 613 B 5 386 M 5 388 M
EV / Sales 2022 1,23x
EV / Sales 2023 1,17x
Nbr of Employees 5 227
Free-Float -
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Kawasaki Kisen Kaisha, Ltd. Technical Analysis Chart | 9107 | JP3223800008 | MarketScreener
Technical analysis trends KAWASAKI KISEN KAISHA, LTD.
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 10
Last Close Price 6 570,00 JPY
Average target price 8 095,00 JPY
Spread / Average Target 23,2%
EPS Revisions
Managers and Directors
Yukikazu Myochin Manager-Container Ship Business
Eizo Murakami Manager-Container Ship Business
Shuzo Kawano Chief Information Officer
Yukio Toriyama Manager-Port Business Group
Akira Okabe Independent Non-Executive Outside Director