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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Honda Motor Co., Ltd.    7267   JP3854600008

HONDA MOTOR CO., LTD.

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Tesla, automakers urge FTC to seek appeal after defeat in Qualcomm case

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08/24/2020 | 01:22pm EDT
FILE PHOTO: A Qualcomm sign is seen at the second China International Import Expo (CIIE) in Shanghai

A group of tech companies and automakers, including Tesla Inc, Ford Motor Co, Honda Motor Co Ltd and Daimler AG, on Monday urged the U.S. Federal Trade Commission to seek an appeal after its loss in a case against chip supplier Qualcomm Inc.

Earlier this month a U.S. appeals court reversed a lower-court decision against Qualcomm, which makes technology for connecting devices to mobile data networks. The court also vacated an injunction that would have required Qualcomm to change its patent licensing practices.

Qualcomm was fighting a May 2019 decision by U.S. District Judge Lucy Koh in San Jose, California, in a case brought by the FTC. Koh sided with the FTC, writing that Qualcomm's practice of requiring phone makers to sign a patent license agreement before selling them chips "strangled competition" and harmed consumers.

Automakers have increasingly put chips in vehicles to connect them to the internet, which requires them to sign patent agreements for communications standards such as 5G. The companies had previously argued that connected car prices could go up if Qualcomm won its case.

Qualcomm won its appeal of that ruling before the U.S. Ninth Circuit Court of Appeals in an Aug. 11 ruling by a three-judge panel. In a letter sent Monday, the automakers, as well as Qualcomm rivals Intel Corp and MediaTek Inc , urged the FTC to seek an "en banc" rehearing of the case by the full appeals court.

"If allowed to stand, the panel's decision could destabilize

the standards ecosystem by encouraging the abuse of market power acquired through collaborative standard-setting," the group said.

An FTC spokeswoman declined to comment.

By Stephen Nellis


Stocks mentioned in the article
ChangeLast1st jan.
DAIMLER AG 0.40% 44.4 Delayed Quote.-10.07%
FORD MOTOR COMPANY -2.15% 7.73 Delayed Quote.-16.88%
HONDA MOTOR CO., LTD. -1.93% 2435 End-of-day quote.-21.43%
INTEL CORPORATION 0.39% 44.28 Delayed Quote.-26.02%
MEDIATEK INC. -0.88% 678 End-of-day quote.52.87%
QUALCOMM INCORPORATED -2.44% 123.36 Delayed Quote.39.82%
TESLA, INC. -5.55% 388.04 Delayed Quote.363.80%
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Financials
Sales 2021 12 597 B 120 B 120 B
Net income 2021 235 B 2 247 M 2 247 M
Net Debt 2021 4 750 B 45 369 M 45 369 M
P/E ratio 2021 17,6x
Yield 2021 2,05%
Capitalization 4 206 B 40 218 M 40 171 M
EV / Sales 2021 0,71x
EV / Sales 2022 0,64x
Nbr of Employees 218 674
Free-Float 91,2%
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Technical analysis trends HONDA MOTOR CO., LTD.
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TrendsNeutralNeutralNeutral
Income Statement Evolution
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Mean consensus BUY
Number of Analysts 18
Average target price 3 359,38 JPY
Last Close Price 2 435,00 JPY
Spread / Highest target 60,2%
Spread / Average Target 38,0%
Spread / Lowest Target 2,67%
EPS Revisions
Managers
NameTitle
Takahiro Hachigo President, CEO, Representative Director, Head-R&D
Toshiaki Mikoshiba Chairman & Head-External Affairs
Seiji Kuraishi COO, Representative Director, VP & GM-Automobile
Kohei Takeuchi Senior MD, Head-Finance & Administration
Yusuke Hori Executive Officer & GM-Information Technology
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