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    9983   JP3802300008

FAST RETAILING CO., LTD.

(9983)
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Delayed Japan Exchange  -  05/26 01:26:48 am EDT
59750.00 JPY   +0.29%
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Japan's Nikkei regains ground on bargain hunting, Fed caution weighs

01/24/2022 | 01:49am EDT

TOKYO, Jan 24 (Reuters) - Japan's Nikkei index reversed course to close higher on Monday, as investors scooped up cheap stocks after U.S. equity futures rose, although gains were capped by caution ahead of the U.S. Federal Reserve's policy meeting this week.

The Nikkei edged up 0.24% to 27,588.37. Earlier in the day, it fell 1.2% after the S&P 500 and Nasdaq posted their biggest weekly drop since March 2020 last week. The broader Topix inched up 0.14% to 1,929.87.

In a sign that the U.S. sell-off may have been overdone, Nasdaq futures gained more than 0.8% during Asian trading hours.

"There was demand as long as stocks were cheap because the economic outlook remains positive," said Jun Morita, general manager of the research department at Chibagin Asset Management. "Also the gains in U.S. futures supported investor sentiment."

Chip-making equipment maker Tokyo Electron and Uniqlo clothing store owner Fast Retailing led the Nikkei's gains, rising 1.62% and 1.17%, respectively.

Camera maker Canon rose 2.02% after a report that its annual net profit would jump 20%. Peer Nikon rose 2.8%.

Oil explorers gained amid rising oil prices, with Inpex jumping 4.57%.

Shipping companies also rallied, with Kawasaki Kisen gaining 6.24% to become the top gainer on the Nikkei.

There were 148 advancers on the Nikkei index against 74 decliners

The volume of shares traded on the exchange's main board was 1.08 billion, compared with the average of 1.09 billion in the past 30 days. (Reporting by Junko Fujita; Editing by Subhranshu Sahu)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
CANON INC. 1.13% 3226 Delayed Quote.13.78%
FAST RETAILING CO., LTD. 0.35% 59750 Delayed Quote.-8.77%
INPEX CORPORATION 0.07% 1520 Delayed Quote.51.60%
KAWASAKI KISEN KAISHA, LTD. 4.98% 10310 Delayed Quote.42.05%
NIKON CORPORATION 1.01% 1492 Delayed Quote.19.19%
TOKYO ELECTRON LTD -2.45% 57230 Delayed Quote.-11.47%
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Analyst Recommendations on FAST RETAILING CO., LTD.
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Financials
Sales 2022 2 217 B 17 424 M 17 424 M
Net income 2022 194 B 1 522 M 1 522 M
Net cash 2022 621 B 4 878 M 4 878 M
P/E ratio 2022 31,5x
Yield 2022 0,92%
Capitalization 6 088 B 47 841 M 47 841 M
EV / Sales 2022 2,47x
EV / Sales 2023 2,18x
Nbr of Employees 55 589
Free-Float 51,4%
Chart FAST RETAILING CO., LTD.
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Fast Retailing Co., Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends FAST RETAILING CO., LTD.
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 59 580,00 JPY
Average target price 69 674,17 JPY
Spread / Average Target 16,9%
EPS Revisions
Managers and Directors
Tadashi Yanai Director
Takeshi Okazaki CFO, Director & Group Senior Executive Officer
Masaaki Shintaku Independent Outside Director
Toru Hambayashi Independent Outside Director
Nobumichi Hattori Independent Outside Director
Sector and Competitors
1st jan.Capi. (M$)
FAST RETAILING CO., LTD.-8.34%48 337
INDITEX-28.57%68 059
KERING-36.78%59 208
ROSS STORES, INC.-31.09%27 272
HENNES & MAURITZ AB-31.65%20 589
PRADA S.P.A.-9.82%14 669