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    6902   JP3551500006

DENSO CORPORATION

(6902)
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Nikkei dips as political uncertainties blunt risk appetite

08/18/2020 | 02:40am EDT

TOKYO, Aug 18 (Reuters) - Japan's Nikkei share average dipped on Tuesday, slipping further away from a near-six-month peak touched last week, as political uncertainties around the world sapped investors' risk appetite.

Nikkei share average lost 0.20% to 23,051.08, inching away from its Friday peak of 23,338, its highest level since late February. The broader Topix ended up 0.06% at 1,610.85.

The yen's rise fuelled profit taking in a market saddled by its already high valuation, rising U.S.-China tensions and uncertainties over U.S. fiscal stimulus.

"The earnings season is over and they weren't really supportive of a strong market rally we have seen. The market has been just bolstered by rally in Wall Street shares," said Masato Kogure, leader of execution group for institutional sales at Tokai Tokyo Securities.

Net profits of listed Japanese firms fell more than 50% from a year earlier in the previous quarter, with only pharmaceutical and food companies expecting profit growth in the financial year to next March, analysts at Okasan Securities said in a report.

The Topix traded at 16.8 times profit forecast by analysts, near the highest level in a decade.

Some market players also said the news that Japanese Prime Minister Shinzo Abe underwent a medical check-up in hospital on Monday raised worries about his health issues and weighed on the sentiment given his reflationary policy has been a major support for the market.

Airline shares tumbled 1.7% after they reported weak passenger traffics during the "Obon" holiday period earlier this month due to a rise in domestic COVID-19 infections.

Banks fell 1% as U.S. bond yields slipped while the yen's rise against the dollar hit exporters, including automakers that surged earlier this month.

Mazda Motor dropped 2.3%, while auto parts maker Denso shed 2.2%.

Bucking the trend, the index of Mothers start-up shares climbed 3.4% to its highest level since October 2018, on buying by individual investors. (Editing by Rashmi Aich and Amy Caren Daniel)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CANADIAN DOLLAR / JAPANESE YEN (CAD/JPY) -1.09% 89.246 Delayed Quote.11.37%
DENSO CORPORATION -0.47% 7804 End-of-day quote.27.23%
EURO / JAPANESE YEN (EUR/JPY) -1.26% 131.208 Delayed Quote.5.95%
MAZDA MOTOR CORPORATION 1.20% 1014 End-of-day quote.46.53%
NIKKEI 225 -0.93% 29018.33 Real-time Quote.6.73%
OKASAN SECURITIES GROUP INC. -1.62% 425 End-of-day quote.13.33%
All news about DENSO CORPORATION
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06/04Japan shares end mixed as growth stocks drag ahead of U.S. jobs data
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05/28DENSO  : Shares Company Direction Updates at Annual Dialog Day
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05/24HONEYWELL INTERNATIONAL  : DENSO, Honeywell Ascend Into Urban Air Mobility With ..
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05/13Aeva announces customer deal; shares soar even after results disappoint
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05/06Self-driving startup Aeva says its sensor can detect vehicles over 500m away
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04/27Toyota to buy Lyft unit in boost to self-driving plans
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04/09DENSO  : Develops Advanced Driver Assistance Products for New Lexus LS, Toyota M..
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04/07DENSO  : Has Begun Testing CO2 Circulation Plant at Anjo Electrifica
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04/07DENSO  : Transfers Its Aftermarket and Non-automotive Business to DENSO Solution
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More news
Financials
Sales 2021 4 825 B 43 704 M 43 704 M
Net income 2021 127 B 1 151 M 1 151 M
Net cash 2021 228 B 2 066 M 2 066 M
P/E ratio 2021 47,5x
Yield 2021 1,82%
Capitalization 6 047 B 54 815 M 54 768 M
EV / Sales 2021 1,21x
EV / Sales 2022 1,05x
Nbr of Employees 170 932
Free-Float 56,9%
Chart DENSO CORPORATION
Duration : Period :
DENSO Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends DENSO CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 19
Average target price 8 602,78 JPY
Last Close Price 7 804,00 JPY
Spread / Highest target 28,1%
Spread / Average Target 10,2%
Spread / Lowest Target -12,9%
EPS Revisions
Managers and Directors
NameTitle
Koji Arima President, CEO & Representative Director
Yasushi Matsui CFO & Senior Head-Corporate Administration
Shoji Tsuzuki Chief Information Security Officer
Hiroyuki Wakabayashi Representative Director, CTO, VP & Head-Technology
George C Olcott Independent Outside Director
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