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    9983   JP3802300008

FAST RETAILING CO., LTD.

(9983)
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Delayed Japan Exchange  -  05/27 02:00:00 am EDT
59650.00 JPY   -0.28%
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Japan shares reverse early gains on rising U.S. bond yields

01/18/2022 | 12:12am EDT

TOKYO, Jan 18 (Reuters) - Japanese shares reversed course to trade lower on Tuesday, as a jump in U.S. bond yields made investors cautious, prompting a sell-off in market heavyweights.

The Nikkei share average was down 0.6% to 28,158 by 0448 GMT, after rising as much as 0.9% earlier in the session. The broader Topix lost 0.78% to 1,971.27.

"Sentiment was weakened by rising U.S. Treasury yields. Investors thought the U.S. market would fall this evening," said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities, adding mixed messages from the Bank of Japan after its policy meeting also weighed.

The Bank of Japan upgraded its inflation forecasts and flagged heightening chances the recent commodity-driven price hikes will broaden, the latest sign of its conviction Japan is emerging sustainably out of deflation.

U.S. Treasury yields jumped along the curve during Asian trading hours, lifting the shorter end to new pandemic highs, as traders braced for the possibility of a hawkish surprise from the Federal Reserve.

Benchmark 10-year yields rose more than 6 basis points to 1.8550% and Fed funds futures dived as markets baked in a hike in March and three more by the end of the year.

Uniqlo clothing store owner Fast Retailing cut its gains, while chip-making equipment maker Tokyo Electron reversed its course to lose 0.21%. Technology start-up investor SoftBank Group also gave up its gains to fall 0.22%. (Reporting by Junko Fujita; Editing by Sherry Jacob-Phillips and Subhranshu Sahu)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.85% 0.7157 Delayed Quote.-2.35%
BRITISH POUND / US DOLLAR (GBP/USD) 0.10% 1.26286 Delayed Quote.-6.98%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.42% 0.78604 Delayed Quote.-1.39%
EURO / US DOLLAR (EUR/USD) -0.02% 1.07301 Delayed Quote.-6.01%
FAST RETAILING CO., LTD. -0.28% 59650 Delayed Quote.-8.41%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.05% 0.012886 Delayed Quote.-3.94%
IWAICOSMO HOLDINGS, INC. 0.84% 1202 Delayed Quote.-12.03%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.89% 0.65383 Delayed Quote.-5.22%
NIKKEI 225 0.66% 26781.68 Real-time Quote.-7.60%
SOFTBANK GROUP CORP. 3.43% 5341 Delayed Quote.-4.97%
TOKYO ELECTRON LTD 3.21% 59120 Delayed Quote.-13.58%
TOPIX INDEX 0.52% 1887.3 Delayed Quote.-5.76%
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Financials
Sales 2022 2 217 B 17 444 M 17 444 M
Net income 2022 194 B 1 523 M 1 523 M
Net cash 2022 621 B 4 883 M 4 883 M
P/E ratio 2022 31,6x
Yield 2022 0,92%
Capitalization 6 095 B 47 954 M 47 954 M
EV / Sales 2022 2,47x
EV / Sales 2023 2,18x
Nbr of Employees 55 589
Free-Float 51,4%
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Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 59 650,00 JPY
Average target price 69 674,17 JPY
Spread / Average Target 16,8%
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.-8.41%47 996
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KERING-33.84%61 885
ROSS STORES, INC.-28.81%30 568
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PRADA S.P.A.-12.73%14 197