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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Marubeni Corporation    8002   JP3877600001

MARUBENI CORPORATION

(8002)
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Infinite Power signs power supply agreement with Framatome, Marubeni

10/21/2020 | 03:20am EST

LONDON (Reuters) - Britain's Infinite Power said on Wednesday it had signed a letter of intent with Japan's Marubeni Corp and Germany's Framatome to provide uninterruptible power in nuclear energy facilities.

Infinite Power has developed power cells which operate in a similar way to solar cells, but instead of converting the sun's rays into electricity they convert the radiation wave emitted from a radioisotope, which is an atom that has excess nuclear energy, into electricity.

This month it signed a separate letter of intent with Marubeni's Nuclear Fuel Dept of Japan to seek potential markets to use the power cell technology in Japan.

The new agreement with nuclear technology company Framatome, majority owned by French utility EDF, and Marubeni, is to supply uninterruptible power inside nuclear energy facilities, waste depots and transport applications in extreme conditions.

"This represents another key application of our unique power technology," said Infinite Power CEO Robert McLeod.

"Providing uninterruptible power in extreme conditions is a powerful selling point for our technology," he added.

Infinite Power said last month it was seeking to raise 25 million pounds to construct its first production facility in Britain to make the power cells to provide clean energy to industry.

Discussions are ongoing with investors in the United States and Britain.

(Reporting by Nina Chestney; editing by Jason Neely)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ELECTRICITÉ DE FRANCE 0.30% 11.82 Real-time Quote.19.06%
ENGIE 1.69% 12.635 Real-time Quote.-12.26%
MARUBENI CORPORATION 0.58% 638.8 End-of-day quote.-21.19%
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Financials
Sales 2021 6 481 B 62 070 M 62 070 M
Net income 2021 157 B 1 506 M 1 506 M
Net Debt 2021 1 774 B 16 989 M 16 989 M
P/E ratio 2021 7,86x
Yield 2021 3,60%
Capitalization 1 109 B 10 625 M 10 621 M
EV / Sales 2021 0,44x
EV / Sales 2022 0,43x
Nbr of Employees 42 882
Free-Float 97,2%
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Technical analysis trends MARUBENI CORPORATION
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 642,50 JPY
Last Close Price 638,80 JPY
Spread / Highest target 23,7%
Spread / Average Target 0,58%
Spread / Lowest Target -17,0%
EPS Revisions
Managers
NameTitle
Masumi Kakinoki President, CEO & Representative Director
Fumiya Kokubu Chairman
Takayuki Furuya CFO, Representative Director & Head-IR
Mutsumi Ishizuki Representative Director & Chief Compliance Officer
Kenichiro Oikawa Representative Director
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