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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Panasonic Corporation    6752   JP3866800000

PANASONIC CORPORATION

(6752)
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Japanese shares fall on U.S. Fed's gloomy economic view

08/19/2020 | 11:24pm EST

TOKYO, Aug 20 (Reuters) - Japanese shares fell on Thursday, tracking Wall Street lower, as the U.S. Federal Reserve's minutes showed that policymakers were concerned about the uncertain path of economic recovery from the coronavirus pandemic.

The benchmark Nikkei share average fell 0.7% to 22,948.86 by the midday break, with 73 advancers on the index against 146 decliners.

The broader Topix lost 0.5% to 1,605.67. All but six of the 33 sector sub-indexes on the Tokyo exchange traded in negative territory, with real estate, electric appliances and metal products being the three worst performers.

Minutes from the Fed's July 28-29 meeting published on Wednesday showed policymakers judged that the swift rebound in employment seen in May and June had likely slowed and that additional "substantial improvement" in the labour market would hinge on a "broad and sustained" reopening of business activity.

Following the Fed's minutes, Wall Street retreated to close lower, while the dollar put on the biggest one-day surge since March.

The yen weakened to last trade at 106.09 per dollar, which analysts say supported the Japanese market from further declines.

Shares of semiconductor-related companies underperformed, as sentiment was hit after the U.S. Philadelphia semiconductor index lost 0.63% overnight.

Screen Holdings Co Ltd slipped 4.07%, while Tokyo Electron Ltd and Advantest Corp fell 2.16% and 2.65%, respectively.

The Mothers Index of start-up firm shares lost 0.88%, a day after it rallied to a two-year high.

Panasonic was one of the top percentage gainers in the index, rising 2.59%, after media reported the company would invest more than $100 million to boost its battery production capacity for Tesla. (Reporting by Eimi Yamamitsu; Editing by Subhranshu Sahu)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ADVANTEST CORPORATION 0.00% 9120 End-of-day quote.17.98%
AUSTRALIAN DOLLAR / JAPANESE YEN (AUD/JPY) 0.12% 80.183 Delayed Quote.1.15%
BRITISH POUND / JAPANESE YEN (GBP/JPY) 0.04% 142.1 Delayed Quote.0.72%
CANADIAN DOLLAR / JAPANESE YEN (CAD/JPY) 0.12% 81.649 Delayed Quote.0.88%
EURO / JAPANESE YEN (EUR/JPY) 0.02% 126.309 Delayed Quote.-0.04%
JAPANESE YEN / SWISS FRANC (JPY/CHF) 0.04% 0.8532 Delayed Quote.-0.34%
NEW ZEALAND DOLLAR / JAPANESE YEN (NZD/JPY) 0.24% 74.725 Delayed Quote.0.74%
NIKKEI 225 -0.44% 28631.45 Real-time Quote.4.33%
PANASONIC CORPORATION 3.28% 1450 End-of-day quote.21.80%
SCREEN HOLDINGS CO., LTD. -3.66% 8420 End-of-day quote.10.79%
TESLA, INC. 0.20% 846.64 Delayed Quote.19.98%
TOKYO ELECTRON LIMITED -1.58% 43510 End-of-day quote.13.31%
US DOLLAR / JAPANESE YEN (USD/JPY) 0.02% 103.802 Delayed Quote.0.31%
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Financials
Sales 2021 6 563 B 63 205 M 63 205 M
Net income 2021 111 B 1 068 M 1 068 M
Net Debt 2021 154 B 1 488 M 1 488 M
P/E ratio 2021 30,6x
Yield 2021 1,68%
Capitalization 3 383 B 32 597 M 32 581 M
EV / Sales 2021 0,54x
EV / Sales 2022 0,50x
Nbr of Employees 246 512
Free-Float 90,8%
Chart PANASONIC CORPORATION
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Technical analysis trends PANASONIC CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Average target price 1 233,12 JPY
Last Close Price 1 450,00 JPY
Spread / Highest target 17,2%
Spread / Average Target -15,0%
Spread / Lowest Target -45,3%
EPS Revisions
Managers and Directors
NameTitle
Kazuhiro Tsuga President, CEO & Representative Director
Shusaku Nagae Chairman
Hirokazu Umeda CFO, Director & Managing Executive Officer
Yoshiyuki Miyabe Chief Technology & Information Officer
Masayuki Matsushita Vice Chairman
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