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    6954   JP3802400006

FANUC CORPORATION

(6954)
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Japanese shares jump on recovery hopes, Yaskawa forecast

07/11/2021 | 10:52pm EDT

TOKYO, July 12 (Reuters) - Japanese shares rose 2% on Monday, with cyclical stocks leading the rebound on renewed hopes of a swift global economic recovery, while industry bellwether Yaskawa Electric jumped after raising its annual profit forecast.

The Nikkei share average climbed 2.05% to 28,513.09 by 0159 GMT, while the broader Topix advanced 2.04% 1,951.39. Both the indexes had fallen in the previous three sessions, hitting their lowest in nearly eight weeks on Friday.

Japanese equities tracked Wall Street's strong finish on Friday. The three major U.S. stock indexes rallied to record closing highs at the end of last week, led by financials and other economically focused sectors.

The U.S. market was led higher on Friday by economically sensitive value stocks and that worked favourably for the Japanese market, which has many value shares linked to the global economy, said Kentaro Hayashi, a senior strategist at Daiwa Securities.

"And Yaskawa Electric's strong earnings and an upward revision of outlook have given a positive surprise to the market," he said.

Shares of Yaskawa Electric, a robot maker seen as a leading indicator on Japanese manufacturers' earnings trend, rose as much as 7.57% after the company raised its annual operating profit forecast by 29%. Peer Fanuc jumped 6.31%.

Makers of industrial machinery, housing instruments and steel led the rebound after Japan's machinery orders rose for a third straight month in May.

Fanuc was the top gainer among the top 30 core Topix names, followed by Recruit Holdings.

Central Japan Railway Co was the worst performer among the top 30 core Topix names with a drop of 0.95%, followed by Nintendo, which slipped 0.57%.

All but airlines among the 33 sector sub-indexes on the Tokyo exchange traded higher. ($1 = 110.1400 yen) (Reporting by Junko Fujita; Editing by Subhranshu Sahu)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CENTRAL JAPAN RAILWAY COMPANY 0.92% 15865 End-of-day quote.8.74%
FANUC CORPORATION 1.27% 26630 End-of-day quote.5.01%
NINTENDO CO., LTD. 1.85% 53470 End-of-day quote.-18.78%
RECRUIT HOLDINGS CO., LTD. 1.40% 7050 End-of-day quote.63.16%
YASKAWA ELECTRIC CORPORATION 1.66% 6140 End-of-day quote.19.69%
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Financials
Sales 2022 749 B 6 807 M 6 807 M
Net income 2022 169 B 1 536 M 1 536 M
Net cash 2022 573 B 5 204 M 5 204 M
P/E ratio 2022 30,1x
Yield 2022 1,96%
Capitalization 5 108 B 46 484 M 46 431 M
EV / Sales 2022 6,06x
EV / Sales 2023 5,70x
Nbr of Employees 8 256
Free-Float 94,3%
Chart FANUC CORPORATION
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Technical analysis trends FANUC CORPORATION
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
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Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 26 630,00 JPY
Average target price 30 603,50 JPY
Spread / Average Target 14,9%
EPS Revisions
Managers and Directors
Kenji Yamaguchi President, CEO & Representative Director
Yoshihiro Gonda CFO, Representative Director & Executive VP
Yoshiharu Inaba Chairman
Hiroyuki Uchida Representative Director, CTO & Executive VP
Masato Ono Independent Outside Director
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