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    7261   JP3868400007

MAZDA MOTOR CORPORATION

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Delayed Japan Exchange  -  02:00 2022-06-30 am EDT
1110.00 JPY   -0.54%
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Japan's Nikkei extends gains, though China's slowdown fears weigh

05/16/2022 | 02:56am EDT

TOKYO, May 16 (Reuters) - Japan's Nikkei stock average gained for a second day on Monday, taking cues from previous session's tech-driven rally on Wall Street, although gains were curbed as China's economic data fuelled slowdown worries.

The Nikkei ended 0.45% higher at 26,547.05. The benchmark jumped as much as 1.55% to a one-week high of 26,836.96 in early trading, but shed most of the early gains after data showed a sharper-than-expected slowdown at factories and shops in major trade partner China.

Tech was by far the Nikkei's best-performing sector, up 0.88%, while basic materials led the losers with a 1.01% drop.

Losers handily outnumbered winners though, with 137 of the Nikkei's 225 component stocks declining, compared with 86 that rose and two that were flat.

The broader Topix edged down 0.05% to 1,863.26 after opening the day about 1% higher.

The Nasdaq led gains in the U.S. stock indexes on Friday with a 3.7% advance. The Philadelphia SE Semiconductor Index jumped 5% on the day.

However, the mood in global markets soured on Monday after shockingly weak data from China underlined the deep damage lockdowns are doing to the world's second-largest economy.

"The risks from China's slowdown are one of the main reasons for the poor sentiment in equity markets," said Masayuki Kichikawa, chief macro strategist at Sumitomo Mitsui Asset Management in Tokyo.

"At the same time, we may be close to the peak in terms of China concerns," he said, with the government now starting to ease COVID-19 restrictions.

Shanghai will gradually begin reopening businesses such as shopping malls and hair salons from Monday, following weeks of strict lockdowns.

Earnings results also divided Japan's market sentiment, with Friday marking the climax of the corporate reporting season. For instance, precision parts maker NTN Corp was the biggest percentage gainer with an 11.68% surge versus Dowa Holdings' 13.06% tumble.

Automakers were also mixed, with Mazda rising 5.65%, but Honda slumped 4.37% on a disappointing earnings forecast and motorcycle-maker Yamaha sank 9.11%, having reported underwhelming results after the bell on Friday.

(Editing by Sherry Jacob-Phillips)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
DOWA HOLDINGS CO., LTD. -1.31% 4505 Delayed Quote.-5.58%
HONDA MOTOR CO., LTD. -1.70% 3293 Delayed Quote.3.72%
MAZDA MOTOR CORPORATION -0.54% 1110 Delayed Quote.26.10%
MOTORCYCLE HOLDINGS LIMITED -0.95% 2.08 Delayed Quote.-35.19%
NASDAQ COMPOSITE -0.03% 11177.89 Real-time Quote.-26.34%
NIKKEI 225 -1.54% 26393.04 Real-time Quote.-6.05%
NTN CORPORATION -1.89% 259 Delayed Quote.10.00%
S&P 500 -0.07% 3818.83 Real-time Quote.-19.82%
SUMITOMO MITSUI FINANCIAL GROUP, INC. -1.85% 4032 Delayed Quote.4.18%
TOPIX INDEX -1.20% 1870.82 Delayed Quote.-4.26%
YAMAHA MOTOR CO., LTD. -3.34% 2486 Delayed Quote.-6.78%
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Financials
Sales 2022 3 112 B 22 771 M 22 771 M
Net income 2022 64 700 M 473 M 473 M
Net Debt 2022 45 928 M 336 M 336 M
P/E ratio 2022 10,9x
Yield 2022 1,57%
Capitalization 703 B 5 144 M 5 144 M
EV / Sales 2022 0,24x
EV / Sales 2023 0,17x
Nbr of Employees 48 750
Free-Float 92,2%
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Mean consensus OUTPERFORM
Number of Analysts 15
Last Close Price 1 116,00 JPY
Average target price 1 214,29 JPY
Spread / Average Target 8,81%
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Managers and Directors
Akira Marumoto President, Chief Executive Officer & Director
Tetsuya Fujimoto Managing Executive Officer & Head-Finance
Masamichi Kogai Chairman
Mitsuo Hitomi Head-Technology Research Center
Takeji Kojima Head-Research & Development Management
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