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    8058   JP3898400001

MITSUBISHI CORPORATION

(8058)
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Delayed Japan Exchange  -  02:00 2022-06-28 am EDT
4086.00 JPY   +1.57%
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Nikkei ends lower in line with subdued U.S. futures, Asian shares

05/24/2022 | 02:39am EDT

TOKYO, May 24 (Reuters) - Japan's Nikkei ended down on Tuesday, dragged lower by declines in U.S. futures and Asian shares, while investors struggling to find fresh catalysts after the earnings season came to an end also weighed on sentiment.

The Nikkei share average erased early gains to close 0.94% lower at 26,748.14, falling from the 27,000 psychological level reclaimed a day earlier. The broader Topix fell 0.86% to 1,878.26.

"With little indicators in the market, the number of participants was limited, which made the market to waffle," said Chihiro Ohta, assistant general manager at SMBC Nikko Securities' investment research and investor services.

The volume of shares traded on the Tokyo Stock Exchange's main board was 1.17 billion, compared to the average of 1.27 billion in the past 30 days.

Investor sentiment was also weighed down by worries about China's economic outlook, persistently high inflation across the globe, aggressive attempts by the U.S. Federal Reserve to control rising pricing pressures, and increasing energy costs, said a strategist at a domestic brokerage.

The services sector led declines among the Tokyo Stock Exchange's 33 industry sub-indexes. Staffing agency Recruit Holdings led the losses on the sub-index with a 6.56% drop.

Medical sersvices platform M3 fell 3.36%.

Banking shares fell 0.11%, reversing early gains underpinned by an increase of current-year interest income outlook by JPMorgan Chase & Co, the largest U.S. lender.

Industry leader Mitsubishi UFJ Financial Group ended 0.69% higher.

Trading firms were also strong, with Itochu rising 0.77% and Mitsubishi Corp climbing 0.64%.

(Reporting by Junko Fujita; Editing by Subhranshu Sahu and Rashmi Aich)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ITOCHU CORPORATION 1.19% 3740 Delayed Quote.2.84%
M3, INC. 3.76% 3923 Delayed Quote.-33.39%
MITSUBISHI CORPORATION 1.62% 4086 Delayed Quote.8.41%
MITSUBISHI UFJ FINANCIAL GROUP, INC -0.08% 740.8 Delayed Quote.17.84%
NIKKEI 225 1.43% 27049.47 Real-time Quote.-7.99%
RECRUIT HOLDINGS CO., LTD 3.14% 4029 Delayed Quote.-42.81%
TOPIX INDEX 1.11% 1907.38 Delayed Quote.-6.30%
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Analyst Recommendations on MITSUBISHI CORPORATION
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Financials
Sales 2022 16 672 B 123 B 123 B
Net income 2022 890 B 6 589 M 6 589 M
Net Debt 2022 4 915 B 36 364 M 36 364 M
P/E ratio 2022 6,67x
Yield 2022 3,69%
Capitalization 5 926 B 43 851 M 43 851 M
EV / Sales 2022 0,65x
EV / Sales 2023 0,53x
Nbr of Employees 77 164
Free-Float 95,6%
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Technical analysis trends MITSUBISHI CORPORATION
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Income Statement Evolution
Consensus
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Buy
Mean consensus BUY
Number of Analysts 10
Last Close Price 4 023,00 JPY
Average target price 5 591,00 JPY
Spread / Average Target 39,0%
EPS Revisions
Managers and Directors
Katsuya Nakanishi President & Chief Executive Officer
Takehiko Kakiuchi Chairman
Yoshihiro Shimazu Manager-Administration
Akihiko Nishiyama Independent Outside Director
Akitaka Saiki Independent Outside Director
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