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    8035   JP3571400005

TOKYO ELECTRON LTD

(8035)
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Nikkei edges lower on Omicron woes; SoftBank falls after Grab slumps

12/02/2021 | 10:11pm EST

TOKYO, Dec 3 (Reuters) - Japan's Nikkei share average slid on Friday, dragged down by declines in SoftBank Group and other heavyweights, as investors assessed the impact of the new Omicron coronavirus variant.

The Nikkei share average lost 0.22% to 27,693.34 by the midday break, after rising as much as 0.3%. The index is set for a 3.6% weekly drop.

The broader Topix gained 0.55% to 1,937.06 and is on course to lose 2.4% for the week.

"Some investors are bullish on the market outlook after sharp declines, while others still remained sceptical and tried to figure out whether the Omicron variant could be contained by vaccines or spread further," said Shigetoshi Kamada, general manager at the research department at Tachibana Securities.

"Nikkei's heavyweights were being sold, particularly SoftBank Group. That explains why the Topix is up and the Nikkei is down."

SoftBank Group, which has a stake in Grab, slid 2.75% after the ride-hailing and delivery firm tumbled more than 20% in its Nasdaq debut on Thursday.

Chinese ride-hailing giant Didi Global, in which SoftBank Group invests, will delist from the New York stock exchange and pursue a listing in Hong Kong.

Fast Retailing, owner of the Uniqlo brand of clothing stores, fell 1.28% after the company's domestic same store sales fell for a fourth straight month in November.

Chip making equipment maker Tokyo Electron lost 2.8%.

Shares that were battered by concerns over the resurgence of the new coronavirus variant gained, with airlines and railways rising 3.53% and 2.15%, respectively.

Travel agency H.I.S gained 5.44% and KNT-CT Holdings jumped 7.31%. (Editing by Rashmi Aich)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
FAST RETAILING CO., LTD. -2.63% 65840 Delayed Quote.3.54%
H.I.S. CO., LTD. -1.50% 1833 Delayed Quote.-0.48%
KNT-CT HOLDINGS CO., LTD. -1.03% 1253 Delayed Quote.-8.92%
TOKYO ELECTRON LTD -4.84% 53680 Delayed Quote.-14.89%
TOPIX INDEX -2.61% 1842.44 Real-time Quote.-5.04%
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Analyst Recommendations on TOKYO ELECTRON LTD
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Financials
Sales 2022 1 919 B 16 632 M 16 632 M
Net income 2022 411 B 3 563 M 3 563 M
Net cash 2022 333 B 2 887 M 2 887 M
P/E ratio 2022 21,4x
Yield 2022 2,32%
Capitalization 8 358 B 73 091 M 72 445 M
EV / Sales 2022 4,18x
EV / Sales 2023 3,76x
Nbr of Employees 14 479
Free-Float -
Chart TOKYO ELECTRON LTD
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Tokyo Electron Ltd Technical Analysis Chart | 8035 | JP3571400005 | MarketScreener
Technical analysis trends TOKYO ELECTRON LTD
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 56 410,00 JPY
Average target price 62 995,74 JPY
Spread / Average Target 11,7%
EPS Revisions
Managers and Directors
Toshiki Kawai Chief Operating Officer, Director & Vice President
Tetsuo Tsuneishi Director
Charles Ditmars Lake Independent Outside Director
Micho Sasaki Independent Outside Director
Akiko Eda Independent Outside Director
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