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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Mitsui Fudosan Co., Ltd.    8801   JP3893200000

MITSUI FUDOSAN CO., LTD.

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Nikkei rallies for fourth day, ends at over 29-1/2-yr high on recovery hopes

11/27/2020 | 02:00am EST

TOKYO, Nov 27 (Reuters) - Japan's Nikkei stock average ended at its highest since April 1991 on Friday as it rallied for the fourth session in a row, buoyed by hopes of economic recovery and strong corporate earnings, after progress in COVID-19 vaccine development.

Nikkei rose 0.41% to close at 26,644.71. The index has gained 15.96% this month, and is on track for its best performance since January 1994. The broader Topix rose 0.47% to hit a 25-month high at 1,786.52.

On a weekly basis, the indexes rose 4.38% and 3.42%, respectively.

The rally was driven by progress in vaccine-related developments, with many investors expecting their delivery next year. Easing U.S. political uncertainty after President-elect Joe Biden's transition to the White House and signs of pick-up in the Chinese economy also lifted sentiment.

"Investors are growing confident about profit recovery in the next financial year," said Takuya Hozumi, global investment strategist at Mitsubishi UFJ Morgan Stanley Securities.

"When you think profits will rise 40-50% next year, the current valuation do not look expensive."

Electronic parts manufacturers are benefiting from hopes for increased demand related to electric vehicles, 5G communications and other new technologies.

Nidec gained 4.2% while Murata Manufacturing rose 1.4%, both hitting record highs. Keyence rose 1.6%.

Including many in the tech sector, growth shares led the gains, with Topix Growth rising 0.72%, compared with 0.19% in Topix Value.

Ballpark operator Tokyo Dome Corp jumped 16.7%, hitting daily limit, after the company said it will discuss a take-over bid by property developer Mitsui Fudosan. Mitsui Fudosan gained 1.9%.

Turnover surged to 3.407 trillion yen ($32.77 billion) on trade due to index rebalancing.

Data from Japan Exchange Group showed foreign investors bought about 600 billion yen of Japanese shares, including both cash equity and futures, in their third consecutive week of net buying. ($1 = 103.9700 yen) (Reporting by Hideyuki Sano, Editing by Sherry Jacob-Phillips and Rashmi Aich)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
JAPAN EXCHANGE GROUP, INC. -2.57% 2634.5 End-of-day quote.-0.13%
KEYENCE CORPORATION -2.23% 56470 End-of-day quote.-2.64%
MITSUBISHI UFJ FINANCIAL GROUP, INC. -0.99% 489.7 End-of-day quote.7.37%
MITSUI FUDOSAN CO., LTD. -1.40% 2044 End-of-day quote.-5.30%
MORGAN STANLEY -0.15% 74.89 Delayed Quote.9.43%
MURATA MANUFACTURING CO., LTD. 0.39% 10370 End-of-day quote.11.27%
NIDEC CORPORATION -0.84% 14100 End-of-day quote.8.63%
NIKKEI 225 -0.38% 28523.26 Real-time Quote.4.33%
TOKYO DOME CORPORATION 0.00% 1294 End-of-day quote.-0.31%
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Financials
Sales 2021 1 922 B 18 556 M 18 556 M
Net income 2021 125 B 1 209 M 1 209 M
Net Debt 2021 3 484 B 33 627 M 33 627 M
P/E ratio 2021 15,8x
Yield 2021 2,12%
Capitalization 1 967 B 18 981 M 18 984 M
EV / Sales 2021 2,84x
EV / Sales 2022 2,75x
Nbr of Employees 20 864
Free-Float 93,2%
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Technical analysis trends MITSUI FUDOSAN CO., LTD.
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 19
Average target price 2 583,68 JPY
Last Close Price 2 044,00 JPY
Spread / Highest target 81,0%
Spread / Average Target 26,4%
Spread / Lowest Target -2,15%
EPS Revisions
Managers and Directors
NameTitle
Masanobu Komoda President & Representative Director
Hiromichi Iwasa Chairman
Yoshikazu Kitahara Representative Director & Executive Vice President
Yasuo Onozawa Director & Executive Vice President
Takashi Yamamoto Director & Senior Managing Executive Officer