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    7269   JP3397200001

SUZUKI MOTOR CORPORATION

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Suzuki Motor : Stable currency is vital, says Japan finmin, as yen descends to 3-year low

10/14/2021 | 10:44pm EST
FILE PHOTO: Japan's new FM Suzuki speaks at a news conference in Tokyo

* Stability in FX very important - finmin Suzuki

* Weak yen good for exports, but pushes up costs for households

* Wholesale inflation hits 13-year high on rising input costs

* Market players see no chance of FX action for now -strategist

TOKYO, Oct 15 (Reuters) - Currency stability is "very important" and Japan's government will scrutinize the economic impact from the foreign exchange moves, Finance Minister Shunichi Suzuki said on Friday, as the yen slid to its lowest level since late 2018.

The dollar rose to a near-three-year high against the yen at 113.885 yen on Friday before the minister's comments, partly on expectations inflation risks could prod the U.S. Federal Reserve to raise interest rates sooner than expected. It remained near that level in early afternoon trading.

Later Friday, the dollar touched 114.075 yen for the first time since December of 2018.

"Stability in currencies is very important," Suzuki told a news conference. "We will continue to closely watch currency market moves and their impact on the economy."

While a weak yen pushes up import costs for some firms and consumers, it helps exporters, he said.

Japanese policymakers tend to fire off verbal warnings against an unwelcome yen rises, which could threaten to derail export-reliant Japanese economy, the world's third largest.

In September, Japan's wholesale inflation hit a 13-year high as rising global commodity prices and a weak yen pushed up import costs, putting pressure on corporate margins and raising the risk of unwanted consumer price hikes.

"I was a bit surprised at the minister's remark, which gave an impression that he was concerned about a weak yen," said Masafumi Yamamoto, chief forex strategist at Mizuho Securities.

"He probably wanted to signal a message that a weak yen doesn't make everything rosy as he needed to show a sympathy towards consumers facing higher import costs ahead of elections."

That said, no one in the market expected the government to respond to the yen moves at this stage via measures such as intervening through yen-buying, he added.

Japan has stayed away from intervening in the currency market since 2011 when devastating earthquakes and subsequent Fukushima nuclear crisis triggered a spike in a safe-haven yen.

Economy Minister Daishiro Yamagiwa said "there's no doubt" that rising fuel costs would affect resource-deficient Japan's economy.

However, Yamagiwa declined to comment on the economic impacts of a weak yen, saying that commenting on currencies in his capacity could "cause problems." (Reporting by Tetsushi Kajimoto; Additional reporting by Kantaro Komiya; Writing by Leika Kihara; Editing by Ritsuko Ando, Muralikumar Anantharaman and Gerry Doyle)


ę Reuters 2021
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Analyst Recommendations on SUZUKI MOTOR CORPORATION
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Financials
Sales 2022 3 480 B 30 710 M 30 710 M
Net income 2022 168 B 1 482 M 1 482 M
Net cash 2022 525 B 4 635 M 4 635 M
P/E ratio 2022 14,2x
Yield 2022 2,01%
Capitalization 2 386 B 21 052 M 21 060 M
EV / Sales 2022 0,53x
EV / Sales 2023 0,46x
Nbr of Employees 68 739
Free-Float 85,0%
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Suzuki Motor Corporation Technical Analysis Chart | 7269 | JP3397200001 | MarketScreener
Technical analysis trends SUZUKI MOTOR CORPORATION
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 17
Last Close Price 4 914,00 JPY
Average target price 5 881,25 JPY
Spread / Average Target 19,7%
EPS Revisions
Managers and Directors
Toshihiro Suzuki President & Representative Director
Osamu Honda Representative Director & Technical Supervisor
Toshiaki Hasuike Director, VP, Head-Production & Technology
Kinji Saito Director & Senior Managing Executive Officer
Takanori Suzuki Director & Senior Managing Executive Officer
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