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    3099   JP3894900004

ISETAN MITSUKOSHI HOLDINGS LTD.

(3099)
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Japanese shares fall as Tokyo declares state of emergency ahead of Olympics

07/08/2021 | 02:42am EDT

TOKYO, July 8 (Reuters) - Japanese shares fell on Thursday, as the country's plan to reintroduce a state of emergency to contain a resurgence of COVID-19 infections stoked worries about an economic slowdown.

The Nikkei share average slipped 0.88% to 28,118.03, its lowest close in more than two weeks, while the broader Topix was down 0.90% at 1,920.32.

Japan is set to declare its fourth state of emergency for Tokyo that will run through its hosting of the Olympics, a key minister said.

The Tokyo area is currently under slightly less strict "quasi emergency" curbs. Under the heightened restrictions, restaurants will be asked to stop serving alcohol, economy minister Yasutoshi Nishimura said.

"The reintroduction of state of emergency is one reason that investors are hesitant to buy Japanese stocks," said Shigetoshi Kamada, general manager for the research department of Tachibana Securities.

Olympic organisers are set to ban all spectators from the Games, which are scheduled to run from July 23 to Aug. 8, the Asahi daily said on Thursday.

"Olympics may be considered as negative for the market. If it will be held successfully without spreading the disease, that may take the sting out of the market," said Yusuke Maeyama, a researcher at NLI Research.

In the near-term, traders were wary of selling from Exchange Traded Funds (ETFs) to procure cash for their dividend payments. Analysts estimate a total selling of about 800 billion yen on Thursday and Friday.

Retailers Isetan Mitsukoshi Holdings and Marui Group fell 3.1% and 2%, respectively.

Showa Denko slipped 1.9% after a report said the materials maker planned to sell its underperforming lead-acid battery operations to Japanese private equity fund Advantage Partners.

Super market operator Aeon briefly jumped following upbeat earnings before erasing gains to end 0.8% lower.

Daikin Industries jumped 3.7% after the Nikkei business daily reported the air conditioner maker had developed a refrigerant for electric vehicles that could extend their range by up to 50%.

(Reporting by Junko Fujita and Hideyuki Sano; Editing by Subhranshu Sahu and Amy Caren Daniel)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AEON CO., LTD. 0.63% 3013 End-of-day quote.-10.99%
DAIKIN INDUSTRIES,LTD. 0.97% 26145 End-of-day quote.14.07%
ISETAN MITSUKOSHI HOLDINGS LTD. 3.41% 819 End-of-day quote.34.26%
MARUI GROUP CO., LTD. 3.70% 2130 End-of-day quote.17.55%
NIKKEI 225 2.06% 30248.81 Real-time Quote.10.22%
SHOWA DENKO K.K. 3.16% 2744 End-of-day quote.24.90%
SHOWA HOLDINGS CO., LTD. 0.00% 52 End-of-day quote.-1.89%
All news about ISETAN MITSUKOSHI HOLDINGS LTD.
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08/30Japanese shares fall as COVID-19 worries weigh
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07/29NIKKEI 225 : Up 0.7% on Federal Reserve Outlook, Earnings Season
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07/08Japanese shares fall as Tokyo declares state of emergency ahead of Olympics
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07/07Japanese shares fall as COVID-19 emergency measures stoke slowdown worries
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06/29Japanese shares drop as virus variant worries hit cyclicals
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06/24NIKKEI 225 : Flat On Wall Street Cues, Lack of Market Catalysts
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More news
Financials
Sales 2022 442 B 3 994 M 3 994 M
Net income 2022 1 834 M 16,6 M 16,6 M
Net Debt 2022 111 B 1 001 M 1 001 M
P/E ratio 2022 170x
Yield 2022 1,26%
Capitalization 312 B 2 820 M 2 819 M
EV / Sales 2022 0,96x
EV / Sales 2023 0,88x
Nbr of Employees 11 588
Free-Float 88,0%
Chart ISETAN MITSUKOSHI HOLDINGS LTD.
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Isetan Mitsukoshi Holdings Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends ISETAN MITSUKOSHI HOLDINGS LTD.
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TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 8
Last Close Price 819,00 JPY
Average target price 778,75 JPY
Spread / Average Target -4,91%
EPS Revisions
Managers and Directors
Toshihiko Sugie President, CEO & Representative Director
Hidehiko Igura CFO, Director & Managing Executive Officer
Ken Akamatsu Chairman
Tomohide Sanbe Executive Officer & Manager-Information Systems
Hideki Katagiri Executive Officer & Manager-Operations
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