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NIPPON TELEGRAPH AND TELEPHONE CORPORATION

(9432)
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Japanese shares tumble on tech sell-off, pandemic woes

05/10/2021 | 11:05pm EDT

TOKYO, May 11 (Reuters) - Japanese shares tumbled on Tuesday, dragged down by technology stocks tracking overnight Wall Street losses, while domestic cyclical stocks also fell on concerns around the nation's worsening situation of the pandemic.

The Nikkei share average tumbled 2.52% to 28,774.45 by 0158 GMT, while the broader Topix lost 1.84% to 1,916.40.

Wall Street closed lower on Monday as inflation concerns drove investors away from market-leading growth stocks in favor of cyclicals.

The prolonged pandemic added to the negative sentiment, with calls for expanding the state of emergency, which covers major prefectures such as Tokyo and Osaka.

Some prefectural governors called for stronger emergency measures to be put in place nationwide, the Kyodo news agency reported.

"Atmosphere in the market is bad," said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities.

"Even domestic cyclical shares, which should be bought on the day like today, were being sold. Investors could not find any reasons to buy Japanese stocks at a time when the pandemic in Japan shows little signs for slowing down."

Technolgy heavyweights fell, with SoftBank Group tumbling 6.01%, Tokyo Electron falling 4.08%, TDK losing 5.8%.

Shionogi & Co inched up only 0.1% despite a local media report that said the drug maker may start supplying COVID-19 vaccines later this year.

Nippon Telegraph and Telephone Corp, up 1 %, was the largest percentage gainer among the top 30 core Topix names, followed by KDDI Corp, inching up 0.26%.

SoftBank Group was the worst performer among the Topix 30 names, followed by Daiichi Sankyo losing 4.07%.

There were 14 advancers on the Nikkei index against 210 decliners. (Reporting by Junko Fujita; Editing by Rashmi Aich)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
DAIICHI SANKYO COMPANY, LIMITED -2.97% 2159.5 End-of-day quote.-38.91%
KDDI CORPORATION -2.57% 3332 End-of-day quote.8.68%
NIPPON TELEGRAPH AND TELEPHONE CORPORATION -0.55% 2802.5 End-of-day quote.5.93%
SHIONOGI & CO., LTD. -2.31% 5752 End-of-day quote.2.08%
SOFTBANK GROUP CORP. -2.61% 6837 End-of-day quote.-15.15%
TDK CORPORATION -3.19% 12440 End-of-day quote.-19.95%
TOKYO ELECTRON LIMITED -1.25% 44920 End-of-day quote.16.98%
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Financials
Sales 2022 12 003 B 109 B 109 B
Net income 2022 1 084 B 9 878 M 9 878 M
Net Debt 2022 6 776 B 61 766 M 61 766 M
P/E ratio 2022 9,11x
Yield 2022 3,94%
Capitalization 10 151 B 92 481 M 92 534 M
EV / Sales 2022 1,41x
EV / Sales 2023 1,35x
Nbr of Employees 324 667
Free-Float 58,4%
Chart NIPPON TELEGRAPH AND TELEPHONE CORPORATION
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Nippon Telegraph and Telephone Corporation Technical Analysis Chart | 9432 | JP3735400008 | MarketScreener
Technical analysis trends NIPPON TELEGRAPH AND TELEPHONE CORPORATION
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Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 2 802,50 JPY
Average target price 3 345,56 JPY
Spread / Average Target 19,4%
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Managers and Directors
Jun Sawada Executive President, CEO & Representative Director
Akira Shimada Chief Financial Officer & Representative Director
Hiromichi Shinohara Chairman
Naoki Shibuya Representative Director & Chief Technology Officer
Katsuhiko Shirai Independent Outside Director
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