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    9983   JP3802300008

FAST RETAILING CO., LTD.

(9983)
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Nikkei rises on Wall Street gains, earnings optimism

10/26/2021 | 03:22am EST

TOKYO, Oct 26 (Reuters) - Japan's Nikkei share average rallied strongly on Tuesday, fuelled by earnings optimism and following overnight Wall Street gains that took the Dow and S&P 500 to record highs.

The Nikkei closed 1.8% higher at 29,106.01, after surging at the open and holding those gains through the afternoon.

Heavy-weights including Uniqlo-owner Fast Retailing and SoftBank Group jumped 5% and 2.2%, respectively.

The broader Topix advanced 1.2% to 2,018.40, with 31 of its 33 sectors posting gains, led by a 3% rally in shippers .

At the other end, banks slipped 0.3% and airlines were little changed.

"There was no particular catalyst beyond the U.S. stock highs," said a market participant at a domestic securities firm.

U.S. e-mini futures pointed to a 0.3% rise at the re-open for the S&P 500, and an index of Asia-Pacific stocks outside Japan also edged higher, further supporting sentiment.

A large proportion of S&P 500 companies are due to report results this week, including technology heavyweights Apple, Amazon, Microsoft, and Google-operator Alphabet, which have been the drivers of the Wall Street rally this year.

Sony Group rose 2.6% to its highest since 2000 ahead of earnings results on Thursday.

"Before earnings season gets into full swing, the market is focused on the psychologically important 29,000 level (for the Nikkei), and investors may want to take a wait-and-see attitude there," said another market participant at a domestic securities firm.

Other noteable gainers were Panasonic, rallying 5.6% after unveiling a prototype battery to help key customer Tesla lower costs.

Telecom company NTT gained 5.4% amid investor optimism over a revised medium-term business strategy revealed Monday.

Toyota Group supplier Denso rose 2.9% following a target price upgrade at Nomura Securities. Toyota Motor added 1.7%.

(Reporting by Tokyo markets team; editing by Uttaresh.V and Rashmi Aich)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
DENSO CORPORATION -1.61% 8351 End-of-day quote.36.14%
FAST RETAILING CO., LTD. 0.09% 67140 End-of-day quote.-27.39%
NIPPON TELEGRAPH AND TELEPHONE CORPORATION -0.87% 3078 End-of-day quote.16.35%
PANASONIC CORPORATION -0.40% 1239 End-of-day quote.4.07%
SOFTBANK GROUP CORP. -5.10% 5599 End-of-day quote.-30.52%
SONY GROUP CORPORATION -2.27% 13580 End-of-day quote.32.04%
TOYOTA MOTOR CORPORATION 0.00% 2045.5 End-of-day quote.28.53%
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Analyst Recommendations on FAST RETAILING CO., LTD.
More recommendations
Financials
Sales 2022 2 260 B 19 972 M 19 972 M
Net income 2022 190 B 1 677 M 1 677 M
Net cash 2022 634 B 5 608 M 5 608 M
P/E ratio 2022 36,2x
Yield 2022 0,79%
Capitalization 6 859 B 60 666 M 60 622 M
EV / Sales 2022 2,75x
EV / Sales 2023 2,43x
Nbr of Employees 55 589
Free-Float 51,4%
Chart FAST RETAILING CO., LTD.
Duration : Period :
Fast Retailing Co., Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FAST RETAILING CO., LTD.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Last Close Price 67 140,00 JPY
Average target price 82 176,71 JPY
Spread / Average Target 22,4%
EPS Revisions
Managers and Directors
Tadashi Yanai Chairman, President & Group CEO
Takeshi Okazaki CFO, Director & Group Senior Executive Officer
Masaaki Shintaku Independent Outside Director
Toru Hambayashi Independent Outside Director
Nobumichi Hattori Independent Outside Director
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