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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Miraca Holdings Inc.    4544   JP3822000000

MIRACA HOLDINGS INC.

(4544)
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Hitachi, Toshiba, Miraca to set up factory for coronavirus antigen tests

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06/05/2020 | 12:57am EDT
FILE PHOTO: The logo of Toshiba Corp is seen behind cherry blossoms at the company's headquarters in Tokyo

By Makiko Yamazaki and Rocky Swift

Japanese industrial conglomerates Hitachi Ltd and Toshiba Corp will join with Miraca Holdings to increase production of antigen-based coronavirus tests, aiding in the country's effort to screen more people for the new virus.

The alliance will double production of Miraca subsidiary Fujirebio's testing kits, which received government approval in May, to 400,000 a week, the three companies said in a joint statement on Friday.

A new plant to make the kits will be established in Hokkaido prefecture, Japan's northern island, and will start operations by December.

Larger output of antigen tests, designed for rapid detection of the virus, will help Japan do more surveillance of the virus. Japan is far behind many industrialised nations in testing for the virus, which critics say obscures the true scale of infection.

"We believe we can contribute in providing a system that enables prompt testing should second and third waves come," a Miraca spokeswoman said.

Antigen tests scan for proteins found on or inside a virus, and typically test a sample taken from the nasal cavity using swabs. The tests can detect the virus quickly but produce false negatives at a higher rate than the currently dominant polymerase chain reaction (PCR) tests.

It takes about 10 to 30 minutes to get a result with Fujirebio's palm-sized antigen test kit, Miraca said, compared with four to six hours for a PCR test. Miraca does not disclose the false negative rate for the kits.

In a rare partnership, Hitachi will provide engineering know-how, while Toshiba will offer facilities. Fujirebio currently produces test kits at a plant in southern Japan.

The coronavirus has infected more than 6.6 million people and killed about 391,000 around the world. Japan has had about 17,000 infections and 910 known deaths to date.

(Reporting by Makiko Yamazaki; Editing by Chris Gallagher and Stephen Coates)

Stocks mentioned in the article
ChangeLast1st jan.
HITACHI, LTD. 2.00% 3409 End-of-day quote.-26.31%
LETS HOLDINGS GROUP CO., LTD. 3.09% 12 End-of-day quote.98.68%
LINE CORPORATION 1.09% 5560 End-of-day quote.3.93%
LOOK HOLDINGS INCORPORATED 5.99% 726 End-of-day quote.-42.01%
MIRACA HOLDINGS INC. 1.88% 2550 End-of-day quote.-4.96%
TOSHIBA CORPORATION 1.42% 3560 End-of-day quote.-3.91%
WORLD CO., LTD. 3.59% 1471 End-of-day quote.-45.34%
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Latest news on MIRACA HOLDINGS INC.
06/05Hitachi, Toshiba, Miraca to set up factory for coronavirus antigen tests
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2019MIRACA HOLDINGS INC. : Ex-dividend day for final dividend
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2018MIRACA HOLDINGS INC. : Ex-dividend day for interim dividend
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2018MIRACA HOLDINGS INC. : Ex-dividend day for final dividend
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2017MIRACA HOLDINGS INC. : Ex-dividend day for interim dividend
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2017MIRACA HOLDINGS INC. : Ex-dividend day for final dividend
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2016MIRACA HOLDINGS INC. : Ex-dividend day for interim dividend
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Financials
Sales 2021 194 B 1 811 M 1 811 M
Net income 2021 3 724 M 34,7 M 34,7 M
Net Debt 2021 48 190 M 449 M 449 M
P/E ratio 2021 39,0x
Yield 2021 4,39%
Capitalization 145 B 1 355 M 1 354 M
EV / Sales 2020
EV / Sales 2021 1,00x
Nbr of Employees 5 968
Free-Float 99,1%
Chart MIRACA HOLDINGS INC.
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Technical analysis trends MIRACA HOLDINGS INC.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 5
Average target price 2 490,00 JPY
Last Close Price 2 550,00 JPY
Spread / Highest target 6,27%
Spread / Average Target -2,35%
Spread / Lowest Target -7,84%
EPS Revisions
Managers
NameTitle
Shigekazu Takeuchi President & Director
Naoki Kitamura Chief Financial Officer & Director
Hiroaki Kimura Head-Information Technology & Investor Relations
Kazuya Omi Executive Officer, Head-Research & Development
Ryoji Itoh Independent Outside Director
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