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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Japan Airlines Co., Ltd.    9201   JP3705200008

JAPAN AIRLINES CO., LTD.

(9201)
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Japan Airlines : raises more than expected $1.8 billion in new share sale

11/18/2020 | 04:53am EST
A JAL airplane is seen at Narita international airport in the east of Tokyo

TOKYO (Reuters) - Japan Airlines Co Ltd said on Wednesday it raised a more-than-expected $1.8 billion in a share sale which was aimed at strengthening its finances amid the coronavirus pandemic.

The airline benefited from a rally in the stock market that was driven by hopes for a swift global economic recovery from the COVID-19 pandemic on vaccine-related developments.

Japan Airline shares have risen 7% since the share sale was announced on Nov. 6. The shares plunged the day after the announcement on concern about dilution.

"We have issued new shares that are equivalent to 30% of the existing shares. We will have to generate profits that would offset the dilution," said Yuichiro Kito, general manager for finance at an online media briefing.

Japan Airlines, with 337 million shares outstanding before the sale, has issued a total of 100 million shares.

Airlines around the globe are struggling to ride out a pandemic that has cast a dark shadow across the global travel industry. Although Japan hasn't been hit as hard by the coronavirus as the United States and Europe, its travel industry is suffering.

The company priced the shares at 1,916 yen, 3% lower than the close of Wednesday, giving investors the smallest discount of the range between 3% and 6%.

The airline raised 183 billion yen ($1.8 billion), compared with 168 billion yen it had planned to raise earlier this month.

($1 = 103.8600 yen)

(Reporting by Junko Fujita; Editing by Tom Hogue, Louise Heavens and Kim Coghill)

By Junko Fujita


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
JAPAN AIRLINES CO., LTD. 0.21% 1892 End-of-day quote.-5.16%
KITO CORPORATION -1.18% 1597 End-of-day quote.3.43%
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Financials
Sales 2021 533 B 5 130 M 5 130 M
Net income 2021 -250 872 M -2 414 M -2 414 M
Net Debt 2021 147 B 1 411 M 1 411 M
P/E ratio 2021 -3,07x
Yield 2021 -
Capitalization 827 B 7 966 M 7 957 M
EV / Sales 2021 1,83x
EV / Sales 2022 0,86x
Nbr of Employees 35 653
Free-Float 95,6%
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Technical analysis trends JAPAN AIRLINES CO., LTD.
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 2 312,50 JPY
Last Close Price 1 892,00 JPY
Spread / Highest target 32,1%
Spread / Average Target 22,2%
Spread / Lowest Target 0,42%
EPS Revisions
Managers and Directors
NameTitle
Yuji Akasaka Executive President & Representative Director
Yoshiharu Ueki Chairman
Takahiro Abe Executive Officer & General Manager-Operations
Toshiki Oka Executive Officer & GM-IT Planning
Hideki Kikuyama Representative Director
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