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ADVANTEST CORPORATION

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Nikkei falls as chip-related stocks outweigh airline gains

05/26/2022 | 03:23am EDT

TOKYO, May 26 (Reuters) - Japan's Nikkei share average fell for a third straight session on Thursday, as losses in heavyweight chip-related stocks overshadowed a jump in airline and railway companies.

The Nikkei ended down 0.27% to 26,604.84, reversing early gains that were sparked by a firmer finish on Wall Street.

U.S stocks indexes were buoyed by minutes from the Federal Reserve's latest monetary policy meeting showing policymakers unanimously felt the U.S. economy was very strong.

"Losses in chip-related stocks weighed on the market since this morning, and as a result gains in airlines and other reopening stocks failed to lift the market," said Shigetoshi Kamada, general manager at the research department at Tachibana Securities.

"With the absence of domestic market-moving catalysts, investors sought cues from overseas. Even as they digested the Fed minutes, investors were not certain if the U.S. economy will improve going forward."

Chip-related Tokyo Electron and Advantest weighed the most on the Nikkei, falling 2.39% and 3.63% respectively. Robot maker Fanuc lost 2.18%.

The broader Topix inched up 0.05% to 1,877.58, helped by a 1.88% gain in Toyota Motor.

Sectors that are likely to benefit from an economic recovery rose, with airlines jumping 2.05% to lead gains among the Tokyo Stock Exchange's 33 industry sub-indexes.

Railway operators Keio climbed 4.8% and East Japan Railway rose 2.48%, helping the sector advance 1.2%.

The real estate sector rose 0.92%, with developer Mitsui Fudosan jumping 2.16%.

There were 115 advancers on the Nikkei index against 108 decliners.

The volume of shares traded on the Tokyo Stock Exchange's main board was 1.12 billion, compared to the average 1.26 billion in the past 30 days. (Reporting by Junko Fujita; Editing by Subhranshu Sahu)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ADVANTEST CORPORATION -3.56% 8120 Delayed Quote.-22.75%
EAST JAPAN RAILWAY COMPANY 0.03% 7056 Delayed Quote.-0.27%
FANUC CORPORATION 0.87% 23095 Delayed Quote.-6.09%
KEIO CORPORATION -0.56% 5280 Delayed Quote.4.73%
MITSUI FUDOSAN CO., LTD. 0.32% 2815 Delayed Quote.23.15%
NIKKEI 225 -0.65% 27819.33 Real-time Quote.-2.75%
S&P 500 2.13% 4210.24 Real-time Quote.-13.51%
TOKYO ELECTRON LTD -2.61% 44410 Delayed Quote.-31.20%
TOPIX INDEX -0.17% 1933.65 Delayed Quote.-2.78%
TOYOTA INDUSTRIES CORPORATION 0.00% 7710 Delayed Quote.-15.67%
TOYOTA MOTOR CORPORATION 0.58% 2088 Delayed Quote.-1.40%
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Financials
Sales 2023 514 B 3 877 M 3 877 M
Net income 2023 117 B 887 M 887 M
Net cash 2023 110 B 833 M 833 M
P/E ratio 2023 13,1x
Yield 2023 2,34%
Capitalization 1 544 B 11 659 M 11 659 M
EV / Sales 2023 2,79x
EV / Sales 2024 2,65x
Nbr of Employees 5 941
Free-Float 94,8%
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Mean consensus OUTPERFORM
Number of Analysts 16
Last Close Price 8 120,00 JPY
Average target price 10 247,94 JPY
Spread / Average Target 26,2%
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Managers and Directors
Yoshiaki Yoshida Managing Executive Officer
Atsushi Fujita Director, Head-Compliance & Administration
Koichi Tsukui Director & Chief Technology Officer
Kazuhiro Yamashita Executive Officer & GM-Technology Development
Osamu Karatsu Independent Outside Director
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