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    6758   JP3435000009

SONY GROUP CORPORATION

(6758)
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Nikkei gains for third day on weaker yen, drop in COVID-19 infections

10/10/2021 | 11:36pm EST

TOKYO, Oct 11 (Reuters) - Japan's Nikkei share average rose for a third straight session on Monday, as a sharp decline in the yen boosted exporters and a drop in COVID-19 infections supported investor sentiment.

The Nikkei climbed 1.57% to 28,488.95 by the midday break, while the broader Topix rose 1.41% to 1,989.51 and was headed for a second straight session of gains.

Gains in other Asian stock markets also supported Japanese equities. An index of Asia-Pacific shares excluding Japan rose 0.56%, led by a 2% jump in Hong Kong's Hang Seng index

New cases of coronavirus infections in Japan fell to 553 on Sunday, the lowest in almost a year, according to public broadcaster NHK. At the height of Japan's fifth wave in late August, the number was close to 26,000.

"The rapid drop in coronavirus infections nationwide has taken away one reason for investors to be cautious, and they are buying back shares," said a market participant at a domestic securities firm.

Air transport was the best performing Topix sector, rising 2.64%. ANA Holdings rose 2.63% and Japan Airlines added 2.66%.

Meanwhile, the yen slid as far as 112.50 per dollar for the first time since December 2018. A weaker currency increases the value of goods sold overseas when profits are repatriated.

Toyota Motor rose 2.6%, while Mitsubishi Motors rallied 4.93% and Nissan Motor gained 4.53%.

Panasonic Corp. was the biggest gainer on the Nikkei with a 6.71% advance.

Sony Group rose 3.92% amid a report that it might build a new chip plant with TSMC in Japan. (Reporting by Tokyo Markets Team; Editing by Subhranshu Sahu)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ANA HOLDINGS INC. 5.14% 2321.5 End-of-day quote.1.95%
JAPAN AIRLINES CO., LTD. 5.46% 2125 End-of-day quote.6.52%
MITSUBISHI MOTORS CORPORATION 2.33% 351 End-of-day quote.61.75%
NISSAN MOTOR CO., LTD. 4.06% 564.5 End-of-day quote.0.80%
PANASONIC CORPORATION 1.25% 1254.5 End-of-day quote.5.38%
SONY GROUP CORPORATION 1.80% 13825 End-of-day quote.34.42%
TOYOTA MOTOR CORPORATION 1.64% 2079 End-of-day quote.30.64%
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Analyst Recommendations on SONY GROUP CORPORATION
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Financials
Sales 2022 9 855 B 87 221 M 87 221 M
Net income 2022 782 B 6 922 M 6 922 M
Net cash 2022 942 B 8 334 M 8 334 M
P/E ratio 2022 22,1x
Yield 2022 0,45%
Capitalization 17 132 B 152 B 152 B
EV / Sales 2022 1,64x
EV / Sales 2023 1,51x
Nbr of Employees 109 700
Free-Float 98,2%
Chart SONY GROUP CORPORATION
Duration : Period :
Sony Group Corporation Technical Analysis Chart | 6758 | JP3435000009 | MarketScreener
Technical analysis trends SONY GROUP CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 20
Last Close Price 13 825,00 JPY
Average target price 15 849,00 JPY
Spread / Average Target 14,6%
EPS Revisions
Managers and Directors
Kenichiro Yoshida Co-Chairman, President & Chief Executive Officer
Hiroki Totoki CFO, Director, VP & Head-Business Administration
Shuzo Sumi Co-Chairman
Toru Katsumoto Chief Technology Officer, Executive VP, Head-R&D
Tsuyoshi Kodera Head-Information Systems & Security
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SONY GROUP CORPORATION34.42%151 512
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