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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Sony Corporation    6758   JP3435000009

SONY CORPORATION

(6758)
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Sony : REUTERS SUMMIT-Pandemic to stimulate more active stock investment strategies - Nissay Asset CEO

12/01/2020 | 01:58am EST

* For other news from Reuters Global Investment Outlook Summit:

* https://www.reuters.com/summit/investment19

* Some industries unlikely to fully recover

* Shares of companies with high ESG scores doing very well

* Global stocks to rally in 2021 on policy support, low rates

TOKYO, Dec 1 (Reuters) - Social transformations triggered by the coronavirus pandemic are making index-following, passive stock investments less attractive and could reverse a decline in active stock investments, the chief executive of Nissay Asset Management said.

Hiroshi Ozeki said a recovery to pre-pandemic levels will be difficult for some industries such as restaurants, airlines and train operators.

Energy-intensive sectors also would be pressured by the need to deal with climate change, he added.

"Even after the pandemic is over and even with some government help, they won't return to where they were," said the chief of the 13 trillion yen ($125 billion) asset management firm.

"Up until now, passive style has been a vogue - it's been said to be the most efficient investment. But with that, you are automatically putting your money in those industries with no growth stories," he said.

Assets held by exchange traded funds (ETFs), among the most convenient passive investments, have been increasing globally over the last decade.

In contrast, active funds, which try to aim for higher returns based on stock picking, have seen large outflows in recent years.

"In the coming few years, active investments are likely to outperform passive ones. The era of active investment may be back," Ozeki said.

Companies which Nissay scores highly for Environment, Social and Governance (ESG) had done better this year, he said.

Enterprises poised to benefit from the shift to renewable energy would prosper after the United States and Japan join other countries in adopting ambitious targets to achieve carbon neutrality.

U.S. President-elect Joe Biden has committed to net zero emissions by 2050 and Japanese Prime Minister Yoshihide Suga in October set the same goal for Japan.

"Some companies that have committed to 100% renewable power targets, such as Sony and Ricoh, are saying that Japan is now becoming the bottleneck among the developed world in achieving that goal," he said, citing limited availability and high costs of renewable energy.

"So it means a lot that Suga has made that target. For investors, too, it reduces risk when the government clarifies its long-term goal," Ozeki said.

Ozeki also said for next year he expected:

* Global share prices to rally further as the pandemic lasts longer than expected, forcing policymakers to continue to support the economy through monetary and fiscal measures.

* Short-term U.S. interest rates to stay low, making currency-hedged dollar bond investments attractive for Japanese investors.

Follow Reuters Summits on Twitter @Reuters_Summits

(For more summit stories, see ) (Reporting by Hideyuki Sano in Tokyo and Tomo Uetake in Sydney; Editing by Stephen Coates)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
RICOH COMPANY, LTD. 1.49% 750 End-of-day quote.10.78%
SONY CORPORATION -1.18% 10480 End-of-day quote.1.90%
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Financials
Sales 2021 8 550 B 82 369 M 82 369 M
Net income 2021 801 B 7 721 M 7 721 M
Net cash 2021 2 492 B 24 009 M 24 009 M
P/E ratio 2021 15,9x
Yield 2021 0,48%
Capitalization 12 957 B 125 B 125 B
EV / Sales 2021 1,22x
EV / Sales 2022 1,11x
Nbr of Employees 111 700
Free-Float 97,7%
Chart SONY CORPORATION
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Sony Corporation Technical Analysis Chart | 6758 | JP3435000009 | MarketScreener
Technical analysis trends SONY CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 11 891,50 JPY
Last Close Price 10 480,00 JPY
Spread / Highest target 43,1%
Spread / Average Target 13,5%
Spread / Lowest Target -19,8%
EPS Revisions
Managers and Directors
NameTitle
Kenichiro Yoshida Co-Chairman, President & Chief Executive Officer
Shuzo Sumi Co-Chairman
Hiroki Totoki Chief Financial Officer, Director & Vice President
Toru Katsumoto Chief Technology Officer & EVP
Makoto Toyoda Chief Information Officer & Executive Officer
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