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NIPPON SHEET GLASS COMPANY, LIMITED

(5202)
  Report
Delayed Japan Exchange  -  01:00 2022-12-01 am EST
621.00 JPY   +2.81%
11/30Nippon Sheet Glass : FY2023 To Our Shareholders 157th Fiscal Period Interim Report
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11/10Nippon Sheet Glass : 2023/3 2nd Quarter Financial Results Presentation [
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Japan's Nikkei hits lowest in nearly 3 months on global recession fears

09/27/2022 | 11:43pm EST

TOKYO, Sept 28 (Reuters) - Japan's Nikkei fell on Wednesday to its lowest in nearly three months, as recession fears grew after Wall Street stocks sank deeper into a bear market and following a report that Apple dropped plans for more iPhones.

The Nikkei share average declined 2.21% to 25,984.51 by the midday break, falling below the psychological 26,000 level for the first time since July 4.

The index slipped steadily after opening about half a percent lower. Selling accelerated mid-morning, around the time Bloomberg reported Apple would drop a plan to boost production of its new smartphones after an anticipated demand surge failed to materialise.

Of the benchmark's 225 constituents, 220 stocks fell, three rose and two traded flat.

Every sector declined, including energy, which had been sharply higher for much of the morning after crude oil rebounded from multi-month lows overnight. Its 1.08% fall was the most moderate, while real estate was the worst performer with a 3.15% drop.

The broader Topix slid 1.72% to 1,840.78.

The big decline comes as Japan heads into the final days of its fiscal first half.

"Apple's decision to postpone an increase in production certainly is having an effect, but another big factor is that traders are speculating about supply and demand into the end of the first half. So, I want to see what happens following this round of selling," said Masayuki Otani, chief market analyst at Securities Japan Inc.

Investors globally are on edge as surging borrowing costs stoke fears of widespread recession, with most of the world's major central banks putting their focus squarely on tightening policies to contain super-heated inflation.

Drugmaker Eisai would have lent some support to Japanese stock indexes, but its shares had yet to trade amid a glut of buy orders after the success of a trial of experimental Alzheimer's treatment lecanemab.

The biggest drag on the Nikkei by index weighting was Uniqlo store operator Fast Retailing, down 4.44%, followed by startup investor SoftBank Group, off 2.76%, robotics giant Fanuc, which was 3.71% lower, and chip-making equipment-maker Tokyo Electron, which lost 2.24%.

The biggest percentage decliner was Nippon Sheet Glass , with a 7.25% tumble. (Reporting by Kevin Buckland; Additional reporting by Tokyo markets team; Editing by Subhranshu Sahu)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ACCENT GROUP LIMITED -2.78% 1.75 Delayed Quote.-26.53%
APPLE INC. -0.03% 148.16 Delayed Quote.-20.50%
BRENT OIL 2.33% 88.67 Delayed Quote.9.01%
EISAI CO., LTD. 4.75% 9775 Delayed Quote.42.89%
FANUC CORPORATION 0.98% 20565 Delayed Quote.-16.47%
FAST RETAILING CO., LTD. 2.44% 82780 Delayed Quote.23.73%
NIKKEI 225 0.92% 28226.08 Real-time Quote.-2.86%
NIPPON SHEET GLASS COMPANY, LIMITED 2.81% 621 Delayed Quote.17.74%
S&P GSCI CRUDE OIL INDEX 3.01% 453.4691 Real-time Quote.7.10%
SOFTBANK GROUP CORP. 1.60% 6047 Delayed Quote.9.53%
TOKYO ELECTRON LTD. 4.01% 46900 Delayed Quote.-31.97%
TOPIX INDEX 0.04% 1986.46 Delayed Quote.-0.34%
WTI 2.55% 82.653 Delayed Quote.4.48%
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Analyst Recommendations on NIPPON SHEET GLASS COMPANY, LIMITED
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Financials
Sales 2023 721 B 5 174 M 5 174 M
Net income 2023 -16 000 M -115 M -115 M
Net Debt 2023 405 B 2 904 M 2 904 M
P/E ratio 2023 -3,07x
Yield 2023 -
Capitalization 55 058 M 395 M 395 M
EV / Sales 2023 0,64x
EV / Sales 2024 0,58x
Nbr of Employees 25 232
Free-Float 96,4%
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Technical analysis trends NIPPON SHEET GLASS COMPANY, LIMITED
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 3
Last Close Price 604,00 JPY
Average target price 563,33 JPY
Spread / Average Target -6,73%
EPS Revisions
Managers and Directors
Shigeki Mori President, Chief Executive Officer & Director
Reiko Kusunose Deputy Chief Financial Officer
Hiroshi Ishino Chairman
Michael Robert Greenall Chief Technology Officer
Munehiro Hosonuma Senior Executive Officer
Sector and Competitors