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    5401   JP3381000003

NIPPON STEEL CORPORATION

(5401)
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Japanese shares extend losses as investors brace for more lockdowns

04/21/2021 | 02:35am EDT

TOKYO, April 21 (Reuters) - Japanese shares extended losses on Wednesday as investor fears of potential lockdowns in the country's biggest cities cast doubts over the prospects of an economic reopening.

Nikkei share average tumbled 2.03% to close at 28,508.55, while the broader Topix fell 1.98% to 1,888.18 - both indexes dropped the most in about a month.

"Global investors find little reason to buy Japanese stocks because Japan is lagging behind other countries in terms of containing the virus," said Hideyuki Ishiguro, senior strategist, Daiwa Securities.

"Worsening the sentiment is that Japan is now planning to declare a state of emergency again."

The government is considering a state of emergency for Tokyo and Osaka as new COVID-19 case numbers surge, broadcaster NHK reported on Wednesday, a move that would enable prefectural authorities to impose curbs to try to stop infections spreading.

New declarations would mark the third full state of emergency in Japan since the epidemic began. The total economic loss from a renewed emergency in the three regions would be 1.156 trillion yen ($10.71 billion), the Nomura Research Institute said in a report.

Steel makers and other material sectors lost the most in the Nikkei index.

Nippon Steel tumbled 5.4%, while JFE Holdings and Kobe Steel lost 5.39% and 4.87%, respectively.

Toshiba fell 3.3% after it dismissed a $20 billion buyout offer from CVC Capital Partners.

Shares of Rakuten Group lost 5.5%, becoming the biggest loser in the Nikkei, following a report that the United States and Japan will jointly monitor the e-commerce firm after a unit of Tencent became a major shareholder.

SoftBank Group gained 1.03% amid news that its $100 billion Vision Fund is widely seen reporting record earnings next month. (Reporting by Junko Fujita; Additional reporting by Rocky Swift; Editing by Shounak Dasgupta and Sherry Jacob-Phillips)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
JFE HOLDINGS, INC. -0.88% 1232 End-of-day quote.24.70%
KOBE STEEL, LTD. 0.44% 680 End-of-day quote.23.41%
NIKKEI 225 0.58% 27548 Real-time Quote.-0.20%
NIPPON STEEL CORPORATION -0.48% 1747.5 End-of-day quote.31.59%
RAKUTEN GROUP, INC. 1.09% 1302 End-of-day quote.30.99%
SOFTBANK GROUP CORP. 0.47% 7261 End-of-day quote.-9.89%
TOSHIBA CORPORATION 0.53% 4705 End-of-day quote.63.08%
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Financials
Sales 2022 6 196 B 56 034 M 56 034 M
Net income 2022 265 B 2 394 M 2 394 M
Net Debt 2022 2 423 B 21 915 M 21 915 M
P/E ratio 2022 5,92x
Yield 2022 4,99%
Capitalization 1 609 B 14 557 M 14 552 M
EV / Sales 2022 0,65x
EV / Sales 2023 0,65x
Nbr of Employees 106 226
Free-Float 92,4%
Chart NIPPON STEEL CORPORATION
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Nippon Steel Corporation Technical Analysis Chart | MarketScreener
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Technical analysis trends NIPPON STEEL CORPORATION
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 10
Last Close Price 1 747,50 JPY
Average target price 2 652,22 JPY
Spread / Average Target 51,8%
EPS Revisions
Managers and Directors
Eiji Hashimoto President & Representative Director
Kosei Shindo Chairman
Shuhei Onoyama Representative Director & Vice President
Mutsutake Otsuka Independent Outside Director
Ichiro Fujisaki Independent Outside Director
Sector and Competitors
1st jan.Capi. (M$)
NIPPON STEEL CORPORATION31.59%15 874
ARCELORMITTAL39.99%32 430
NUCOR CORPORATION74.66%28 934
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STEEL DYNAMICS, INC.60.43%12 724