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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Access Co., Ltd.    4813   JP3108060009

ACCESS CO., LTD.

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German business gaining traction in China again - DIHK

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05/21/2020 | 12:37pm EDT
FILE PHOTO: VW re-starts Europe's largest car factory after coronavirus shutdown

German exporters are regaining momentum in their trade with China, epicentre of the coronavirus outbreak, Martin Wansleben, managing director of Germany's DIHK chambers of industry and commerce, told Reuters on Thursday.

German manufacturers depend on both demand and supply chains from China, their country's biggest trading partner.

"In China, the economic trough seems to have bottomed out," Wansleben said, adding that "70 to 80% of German companies are able to produce and deliver again in the Middle Kingdom".

Wansleben called for progress in talks on an investment agreement between China and the EU - likely to be an important item on the agenda when Germany holds the rotating European Union presidency in the second half of this year.

"After rather minor progress in the last rounds of negotiations, German business is finally hoping for ambitious offers from China," Wansleben said.

Negotiations on an investment agreement have been underway for six years and should be concluded in 2020.

German companies want better market access in China and more legal certainty for investment. They also complain that the government in Beijing distorts competition with high subsidies.

"The EU should take a united and determined stance here in order to limit market intervention and push ahead with market opening, especially in public procurement," Wansleben said.

(Reporting by Christian Kraemer; Writing by Paul Carrel; Editing by Giles Elgood)

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Financials
Sales 2020 9 422 M 87,7 M 87,7 M
Net income 2020 493 M 4,59 M 4,59 M
Net cash 2020 19 398 M 180 M 180 M
P/E ratio 2020 70,1x
Yield 2020 0,34%
Capitalization 36 985 M 344 M 344 M
EV / Sales 2019 1,22x
EV / Sales 2020 1,61x
Nbr of Employees 729
Free-Float 87,0%
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Managers
NameTitle
Kiyoyasu Oishi President & Representative Director
Hisashi Hosokawa Chairman
Michimasa Uematsu Director, CTO & Senior Managing Executive Officer
Yoshihiko Miyauchi Independent Outside Director
Ryuji Natsuumi Director & Senior Managing Executive Officer
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