Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Indexes
  3. Nikkei 225
  4. News
  5. Summary
    N225   JP9010C00002

NIKKEI 225

(N225)
SummaryQuotesChartsNewsHeatmapComponents 
SummaryMost relevantAll NewsOther languagesNews of the index componentsMarketScreener Strategies

Japanese shares fall as Yaskawa leads tech sell-off after earnings view disappoints

04/12/2021 | 02:42am EDT

TOKYO, April 12 (Reuters) - Japanese shares ended lower on Monday, dragged down by sharp losses in Yaskawa Electric after the industry bellwether's earnings outlook failed to meet the market's expectations, prompting a sell-off in other tech stocks.

Nikkei average fell 0.77% to close at 29,538.73. It has been in a holding pattern after hitting a 30-and-a-half-year high in mid-February, with a break of either its March 18 high of 30,485 or March 24 low of 28,379, seen as needed for a new trend to emerge.

The broader Topix ended 0.25% lower at 1,954.59.

Shares of robot maker Yaskawa Electric, a leading indicator on Japanese manufacturers' earnings trends, lost 7.11% after its February quarter earnings fell short of investor expectations.

The company expects 54.5% jump in its operating profit to 42 billion yen ($383.67 million) in the current financial year, nearly meeting analysts' forecast of 43 billion yen.

Other technology firms also fell, with Nitto Denko, Shin-Etsu Chemical and Fanuc dropping between 3.7% and 1.76%.

"Today's investor reaction to Yaskawa stock suggested that the market expectations for the company was very strong," said Takatoshi Itoshima, strategist at Pictet Asset Management.

"Investors sold other tech shares because Yaskawa's result implicated disappointing earnings for others. But if they could confirm strong earnings of other firms, they would buy them back."

Supermarket operator Aeon also lost 4.08%, after subdued quarterly earnings.

More retailers will release their earnings this week while the country's top companies will start later this month.

Toshiba rose 6.21% after the Nikkei financial daily said late Friday state-backed Japan Investment Corp (JIC) and the Development Bank of Japan (DBJ) would join $20 billion takeover bid by CVC Capital Partners.

Small golf shaft maker Graphite Design jumped 8.12%, after Hideki Matsuyama become the first Japanese man to win a Masters victory at Augusta National.

Golf-related service firm Value Golf gained 13.01%.

($1 = 109.4700 yen) (Reporting by Hideyuki Sano and Junko Fujita; Editing by Rashmi Aich)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AEON CO., LTD. 1.29% 3064 End-of-day quote.-9.48%
BANK OF JAPAN 0.00%End-of-day quote.0.00%
FANUC CORPORATION 1.15% 26500 End-of-day quote.4.50%
GRAPHITE DESIGN, INC. 0.38% 526 End-of-day quote.29.88%
NIKKEI 225 0.09% 29357.82 Real-time Quote.6.97%
NITTO DENKO CORPORATION -1.75% 8980 End-of-day quote.-2.71%
SHIN-ETSU CHEMICAL CO., LTD. -1.15% 18400 End-of-day quote.2.00%
TOSHIBA CORPORATION -0.11% 4545 End-of-day quote.57.54%
VALUE GOLF INC. -0.97% 1838 End-of-day quote.28.08%
YASKAWA ELECTRIC CORPORATION 0.77% 5220 End-of-day quote.1.75%
All news about NIKKEI 225
05/07WALL STREET STOCK EXCHANGE : Stocks Climb as S&P 500, Dow Hit Records -- Update
DJ
05/07WALL STREET STOCK EXCHANGE : Stocks Climb as S&P 500, Dow Hit Records
DJ
05/07Wall Street Mixed Pre-Bell After Nonfarm Payrolls Report
MT
05/07WALL STREET STOCK EXCHANGE : Stocks Open Mixed After Disappointing Jobs Report
DJ
05/07Stocks Signal Stronger Session as US Futures Climb Pre-Bell; Europe Higher, A..
MT
05/07Wall Street Leans Forward Pre-Bell; Futures Green, Europe Up, Asia Unevenly H..
MT
05/07Asian Stock Markets Higher, Excluding Hong Kong and China
MT
05/07NIKKEI 225  : Edges Forward 0.1% as Japan Expands Pandemic Restrictions
MT
05/07NIKKEI 225  : Japan April Services PMI Stabilizes Further; Overall Private Secto..
MT
05/07NIKKEI 225  : Japanese Shares End Flat in Cautious Session on Downbeat Data, Sta..
MT
More news
News of the index components NIKKEI 225
04:38aTOKYO ELECTRIC POWER INCORPORATED  : Another security breach at TEPCO nuclear pl..
AQ
05/08NISSAN MOTOR  : e.dams races in thrilling Formula E Monaco E-Prix
PU
05/07MITSUBISHI UFJ FINANCIAL  : Investors back off view that Fed could raise rates i..
RE
05/07MITSUBISHI MOTORS  : Dealer Partner Spotlight - Platinum Mitsubishi on the Impor..
AQ
05/07SHISEIDO COMPANY, LIMITED  : quaterly earnings release
05/07TOYOTA MOTOR CORPORATION  : annual earnings release
05/07SOFTBANK GROUP CORP.  : annual earnings release
More news
Chart NIKKEI 225
Duration : Period :
Nikkei 225 Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends NIKKEI 225
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Top / Flop NIKKEI 225
Heatmap :