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    9020   JP3783600004

EAST JAPAN RAILWAY COMPANY

(9020)
  Report
Delayed Japan Exchange  -  01:00 2022-12-09 am EST
7791.00 JPY   +0.26%
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Japan stocks slump on U.S. CPI data, reports of BOJ preparing for FX intervention

09/14/2022 | 02:56am EST

TOKYO, Sept 14 (Reuters) - Japanese stocks fell the most in three months on Wednesday, after overnight Wall Street losses on an unexpected rise in U.S. inflation data, while reports of the Bank of Japan apparently preparing for a currency intervention also weighed on sentiment.

The Nikkei share average dropped 2.95% shortly after markets opened and closed down 2.78% at 27,818, after the Nikkei newspaper reported that the BOJ conducted a rate check in apparent preparation for currency intervention amid sharp declines in yen.

The broader Topix index closed 1.97% lower, in its worst day since June 13.

The U.S. Consumer Price Index report was a "negative surprise for the stock market," said Masahiro Yamaguchi of SMBC Trust Bank, who added that the Nikkei could slip back below 27,000 on future Federal Reserve interest rate hikes.

Wall Street posted its biggest loss in two years after the U.S. CPI report showed August consumer prices edged up 0.1% despite consensus expectations for a decrease.

Markets are now fully pricing in a third successive rate hike of at least 75 basis points at the Fed's next meeting and see a 34% probability of a highly aggressive 100 bps.

Technology stocks led the losses on the Nikkei, falling 2.59%, after the Philadelphia semiconductor index slid 6.18% overnight.

SoftBank Group Corp fell 4.38% and chipmaking equipment manufacturer Tokyo Electron slipped 3.69%.

"The selloff in high-priced tech stocks in Japan seems to be connected [to the overnight U.S. losses]," a market participant at a domestic financial institution said.

Of the Nikkei's 225 constituents, 208 declined, 15 advanced, and two traded flat.

Some travel-related companies gained amid expectations that Japan will further ease COVID-19 visa restrictions for tourists.

Department store giant Takashimaya Co Ltd rose 0.48%, East Japan Railway Co gained 0.23%, and airline ANA Holdings Inc increased 0.07%. (Reporting by Sam Byford and Tokyo markets team; Editing by Rashmi Aich)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ANA HOLDINGS INC. -0.50% 2903.5 Delayed Quote.21.36%
AUSTRALIAN DOLLAR / JAPANESE YEN (AUD/JPY) 0.28% 92.831 Delayed Quote.9.75%
BRITISH POUND / JAPANESE YEN (GBP/JPY) 0.19% 167.479 Delayed Quote.6.91%
CANADIAN DOLLAR / JAPANESE YEN (CAD/JPY) -0.35% 100.125 Delayed Quote.9.67%
EAST JAPAN RAILWAY COMPANY 0.26% 7791 Delayed Quote.9.87%
EURO / JAPANESE YEN (EUR/JPY) -0.23% 143.91 Delayed Quote.9.56%
INDIAN RUPEE / JAPANESE YEN (INR/JPY) -0.24% 1.657166 Delayed Quote.7.50%
NEW ZEALAND DOLLAR / JAPANESE YEN (NZD/JPY) 0.58% 87.627 Delayed Quote.10.02%
NIKKEI 225 1.18% 27901.01 Real-time Quote.-4.23%
SOFTBANK GROUP CORP. 1.20% 6168 Delayed Quote.12.16%
TAKASHIMAYA COMPANY, LIMITED -0.40% 1725 Delayed Quote.61.87%
TOKYO ELECTRON LTD. 2.93% 45700 Delayed Quote.-33.01%
TOPIX INDEX 1.03% 1961.56 Delayed Quote.-2.55%
US DOLLAR / JAPANESE YEN (USD/JPY) 0.00% 136.649 Delayed Quote.18.52%
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Analyst Recommendations on EAST JAPAN RAILWAY COMPANY
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Financials
Sales 2023 2 429 B 17 815 M 17 815 M
Net income 2023 79 197 M 581 M 581 M
Net Debt 2023 4 325 B 31 713 M 31 713 M
P/E ratio 2023 37,5x
Yield 2023 1,28%
Capitalization 2 939 B 21 552 M 21 552 M
EV / Sales 2023 2,99x
EV / Sales 2024 2,72x
Nbr of Employees 71 240
Free-Float 91,2%
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Technical analysis trends EAST JAPAN RAILWAY COMPANY
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Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 7 791,00 JPY
Average target price 8 327,27 JPY
Spread / Average Target 6,88%
EPS Revisions
Managers and Directors
Yuji Fukasawa President & Representative Director
Ryoji Akaishi MD, Manager-Legal Strategy, Head-Audit & Finance
Atsuko Ito Executive Officer & Manager-Finance
Tetsuro Tomita Chairman
Tomomichi Ota Managing Director & Deputy GM-Railway Business
Sector and Competitors