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    9984   JP3436100006

SOFTBANK GROUP CORP.

(9984)
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Nikkei slips from 3-decade high on profit-taking, SoftBank drag

09/15/2021 | 02:37am EDT

TOKYO, Sept 15 (Reuters) - Japanese shares on Wednesday retreated from three-decade peaks hit in the previous session, as investors took profits after a strong rally over the last two weeks and Chinese regulatory concerns dragged SoftBank Group and property shares.

The Nikkei average dropped 0.52% to 30,511.71. On Tuesday, it rose above its February peak to reach 30,795.78, the highest level since August 1990.

In a sign of strong sentiment, however, the Nikkei posted a "bullish candlestick", which appears when a market closes above its opening level for 12 days in a row.

The broader Topix shed 1.06% to 2,096.39.

Japan's stock market rally has gathered pace since Sept. 3 when Prime Minister Yoshihide Suga announced his plan to step down, bolstering hopes of a new stimulus package. Vaccine Minister Taro Kono is now seen as a leading candidate in the ruling Liberal Democratic Party's (LDP) leadership election on Sept 29.

"The market had risen a bit too much too fast ... Investors now want to see the outcome of the LDP race. While Kono seems to be viewed as a reformist, it is not entirely clear what kind of economic policies he will adopt," said Naoya Oshikubo, senior economist at Sumitomo Mitsui Trust Asset Management.

SoftBank Group lost 5.8%, weighed by concerns about its exposure to Alibaba and other Chinese tech firms, as Beijing steps up regulation in the sector.

Property builders were the worst-performing subindex, with a fall of 2.2%. Some analysts attributed the weakness to a spillover from troubles in Chinese real estate shares.

Many Japanese suppliers of Apple slid after the iPhone maker's shares dropped on Tuesday when it unveiled its iPhone 13.

Murata Manufacturing lost 2.7%, while Nitto Denko dropped 3.3%.

Elsewhere, Park24 slumped 7.9% after the parking lots operator posted its sixth consecutive quarterly net loss, hit by the COVID-19 pandemic. (Reporting by Hideyuki Sano; editing by Uttaresh.V)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. 1.18% 146.55 Delayed Quote.10.45%
MURATA MANUFACTURING CO., LTD. -0.13% 8774 End-of-day quote.-5.86%
PARK24 CO., LTD. -2.43% 1847 End-of-day quote.3.13%
SOFTBANK GROUP CORP. -0.83% 6238 End-of-day quote.-22.59%
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Analyst Recommendations on SOFTBANK GROUP CORP.
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Financials
Sales 2022 6 040 B 52 949 M 52 949 M
Net income 2022 1 310 B 11 482 M 11 482 M
Net Debt 2022 15 330 B 134 B 134 B
P/E ratio 2022 8,19x
Yield 2022 0,71%
Capitalization 10 686 B 93 536 M 93 677 M
EV / Sales 2022 4,31x
EV / Sales 2023 4,02x
Nbr of Employees 58 786
Free-Float 69,3%
Chart SOFTBANK GROUP CORP.
Duration : Period :
SoftBank Group Corp. Technical Analysis Chart | 9984 | JP3436100006 | MarketScreener
Technical analysis trends SOFTBANK GROUP CORP.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 15
Last Close Price 6 238,00 JPY
Average target price 10 325,87 JPY
Spread / Average Target 65,5%
EPS Revisions
Managers and Directors
Masayoshi Son Chairman & Executive President
Yoshimitsu Goto CFO, Director & Senior Managing Executive Officer
Raul Marcelo Claure Chief Operating Officer & Executive Vice President
Tim Mackey Chief Legal Officer & Group Compliance Officer
Masami Iijima Independent Outside Director
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