MITSUBISHI UFJ FINANCIAL GROUP, INC

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Delayed Japan Exchange  -  02:00 2022-06-24 am EDT
736.40 JPY   -1.88%
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Japan's Nikkei slips below 27,000 level as U.S. futures skid

05/23/2022 | 10:55pm EDT

TOKYO, May 24 (Reuters) - Japan's Nikkei edged down on Tuesday, trading below the 27,000 psychological level reclaimed a day earlier, as U.S. futures skidded and investors struggled to find fresh catalysts after the earnings season came to an end.

The Nikkei share average had slipped 0.4% to 26,888.18 by 0207 GMT after opening higher, while the broader Topix was down 0.33% at 1,888.37.

"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 0.54 billion, compared with the average 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 the declines among the Tokyo Stock Exchange's 33 industry sub-indexes. Staffing agency Recruit Holdings led the losses on the sub-index with a 4.41% drop.

Advertising agency Dentsu Group fell 1.86%.

Banking shares traded 0.38% higher after JPMorgan Chase & Co, the largest U.S. lender, raised its current-year interest income outlook.

Mitsubishi UFJ Financial Group gained 1.02% and was the top gainer among the top 30 core Topix names.

Trading firms were also strong, with Itochu rising 1.2% and Mitsubishi Corp climbing 1.23%.

There were 96 advancers on the Nikkei index against 124 decliners. (Reporting by Junko Fujita; Editing by Subhranshu Sahu)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
DENTSU INC. 1.57% 4205 End-of-day quote.2.56%
ITOCHU CORPORATION -0.44% 3618 End-of-day quote.2.84%
MITSUBISHI CORPORATION 0.23% 3959 End-of-day quote.8.41%
MITSUBISHI UFJ FINANCIAL GROUP, INC -1.88% 736.4 End-of-day quote.17.84%
NIKKEI 225 1.23% 26491.97 End-of-day quote.-9.10%
RECRUIT HOLDINGS CO., LTD 2.49% 3987 End-of-day quote.-42.81%
TOPIX INDEX 0.81% 1866.72 End-of-day quote.-7.06%
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Financials
Sales 2022 3 983 B 29 483 M 29 483 M
Net income 2022 1 119 B 8 279 M 8 279 M
Net Debt 2022 - - -
P/E ratio 2022 8,35x
Yield 2022 3,81%
Capitalization 9 263 B 68 566 M 68 566 M
Capi. / Sales 2022 2,33x
Capi. / Sales 2023 2,23x
Nbr of Employees 148 100
Free-Float 89,2%
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Mean consensus OUTPERFORM
Number of Analysts 11
Last Close Price 736,40 JPY
Average target price 849,00 JPY
Spread / Average Target 15,3%
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Managers and Directors
Hironori Kamezawa President, Group CEO & Representative Director
Tetsuya Yonehana Group CFO & Senior Managing Executive Officer
Hiroki Kameda Group Chief Information Officer
Takayoshi Futae Group Co-COO & GM-Global Commercial Banking
Tsutomu Okuda Independent Outside Director