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Delayed Japan Exchange  -  05/27 02:00:00 am EDT
59650.00 JPY   -0.28%
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Japanese shares track European peers higher, heavyweights advance

01/17/2022 | 10:13pm EDT

TOKYO, Jan 18 (Reuters) - Japanese shares rose on Tuesday, tracking a solid finish in European markets, as investors continued to buy back growth stocks, though caution ahead of an outcome of the Bank of Japan's policy meeting capped further gains.

The Nikkei share average was up 0.8% at 28,566.23, as of 0207 GMT, and the broader Topix was up 0.58% at 1,998.35.

"Gains in European stocks lifted the market sentiment and investors bought back large stocks," said Ikuo Mitsui, fund manager at Aizawa Securities.

European shares recovered on Monday as investors focused on company earnings and U.S. Federal Reserve policymakers entered a quiet period ahead of their meeting next week, while the U.S. market was closed..

Back home, Uniqlo clothing store owner Fast Retailing rose 3.46%, and chip-making equipment maker Tokyo Electron climbed 1.63% and technology start-up investor SoftBank Group advanced 1.86%.

Hitachi Construction Machinery rose 2.47% after slumping about 12% in the past week, as its parent Hitachi said it would sell about half of its stake in Hitachi Construction.

Japanese railway operators and airliners managed to climb 0.9% and 0.56%, respectively, even as Tokyo and its surrounding prefectures have sought further measures from the central government to help counter rising COVID-19 infections.

"But today investors are also cautious as they await the outcome of the Bank of Japan's policy meeting," Mitsui said.

The central bank will probably slightly revise up its inflation forecast in a quarterly outlook report due to rising energy costs, Reuters had reported last week.

Steel makers were the worst performers on the Nikkei, with Nippon Steel losing 5.72%, JFE Holdings dropping 5.11% and Kobe Steel 5406.T> falling 5.02%.

(Reporting by Junko Fujita; Editing by Sherry Jacob-Phillips)

© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AIZAWA SECURITIES GROUP CO.,LTD. 1.35% 677 Delayed Quote.-34.57%
FAST RETAILING CO., LTD. -0.28% 59650 Delayed Quote.-8.41%
HITACHI CONSTRUCTION MACHINERY CO., LTD. 1.81% 2981 Delayed Quote.-11.94%
JFE HOLDINGS, INC. 1.83% 1556 Delayed Quote.4.16%
JFE SYSTEMS, INC. 2.04% 2199 Delayed Quote.-6.02%
KOBE STEEL, LTD. 2.10% 682 Delayed Quote.15.77%
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%
All news about FAST RETAILING CO., LTD.
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Analyst Recommendations on FAST RETAILING CO., LTD.
More recommendations
Sales 2022 2 217 B 17 410 M 17 410 M
Net income 2022 194 B 1 520 M 1 520 M
Net cash 2022 621 B 4 874 M 4 874 M
P/E ratio 2022 31,6x
Yield 2022 0,91%
Capitalization 6 112 B 47 996 M 47 996 M
EV / Sales 2022 2,48x
EV / Sales 2023 2,19x
Nbr of Employees 55 589
Free-Float 51,4%
Duration : Period :
Fast Retailing Co., Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FAST RETAILING CO., LTD.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 59 820,00 JPY
Average target price 69 674,17 JPY
Spread / Average Target 16,5%
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
INDITEX-24.12%68 430
KERING-33.84%59 609
ROSS STORES, INC.-28.81%28 589
HENNES & MAURITZ AB-31.54%20 434
PRADA S.P.A.-10.62%14 539