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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Nintendo Co., Ltd.    7974   JP3756600007

NINTENDO CO., LTD.

(7974)
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Nikkei hovers near 29-year peak as Biden edges toward victory

11/05/2020 | 10:28pm EST

TOKYO, Nov 6 (Reuters) - Japanese shares on Friday hovered near a 29-year high, following strong cues from global equities, as investors hoped a gridlock in U.S. Congress during a possible Joe Biden presidency would be able to halt major policy changes.

The benchmark Nikkei share average rose 1.09% to 24,367.35 by the midday break, just a fraction below 24,448.07, a level unseen since November 1991. Earlier in the session, the index touched its highest since October 2018.

The broader Topix gained 0.76% to 1,662.46.

All but two of the 33 sector sub-indexes on the Tokyo exchange traded higher, with iron and steel, shippers and machineries leading the gains.

Investors expect Democrat Joe Biden to beat President Donald Trump and the Republicans to retain control of the Senate, allowing them to block the Democrats' agenda, such as corporate tax hikes and massive borrowing for large spending.

While the election outcome hinged on a dwindling set of uncounted votes in a handful of battleground states, Biden maintained an edge over Trump. But uncertainty still loomed as the Republican incumbent mounts legal challenges to vote counts.

The Nikkei and Topix indexes were poised to mark their biggest weekly gains since late May, last up more than 5% each.

Among the stocks that gained the most among the top 30 core Topix names, Daikin Industries rose 4% after it made upward revisions to its net profit forecast for the year ending March 2021.

Toyota Motor climbed 2.35% ahead of its earnings report later in the day, after a media reported that the company would more than double its full-year operating profit forecast

Nintendo spiked 2.56% after the company raised its full-year operating profit forecast by 50%.

Elsewhere, Eisai extended gains after posting a near 18% jump in the previous trade, last up 7.34%, on expectations that the company and its partner Biogen Inc BIIB.O moved closer to receiving the U.S. FDA's nod for their Alzheimer drug. (Reporting by Eimi Yamamitsu, Editing by Sherry Jacob-Phillips)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BIOGEN INC. -1.59% 275.84 Delayed Quote.12.65%
DAIKIN INDUSTRIES,LTD. -2.40% 23225 End-of-day quote.1.33%
EISAI CO., LTD. 2.51% 7789 End-of-day quote.5.66%
NIKKEI 225 -0.62% 28519.18 Real-time Quote.3.92%
NINTENDO CO., LTD. -0.18% 65690 End-of-day quote.-0.21%
TOYOTA INDUSTRIES CORPORATION -2.32% 8420 End-of-day quote.2.81%
TOYOTA MOTOR CORPORATION -1.65% 7733 End-of-day quote.-2.82%
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More news
Financials
Sales 2021 1 610 B 15 491 M 15 491 M
Net income 2021 396 B 3 810 M 3 810 M
Net cash 2021 1 187 B 11 421 M 11 421 M
P/E ratio 2021 19,9x
Yield 2021 2,57%
Capitalization 7 825 B 75 389 M 75 310 M
EV / Sales 2021 4,12x
EV / Sales 2022 4,26x
Nbr of Employees 6 200
Free-Float 85,7%
Chart NINTENDO CO., LTD.
Duration : Period :
Nintendo Co., Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends NINTENDO CO., LTD.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 68 766,95 JPY
Last Close Price 65 690,00 JPY
Spread / Highest target 23,3%
Spread / Average Target 4,68%
Spread / Lowest Target -31,5%
EPS Revisions
Managers and Directors
NameTitle
Shuntaro Furukawa President & Representative Director
Satoru Shibata Director, General Manager-Sales & Operations
Hajime Murakami Executive Officer & GM-Administration
Ko Shiota Director, GM-Technology & Development
Shigeru Miyamoto Representative Director
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