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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  Samsung Electronics Co., Ltd.    A005930   KR7005930003

SAMSUNG ELECTRONICS CO., LTD.

(A005930)
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Japan to join forces with U.S., Europe in regulating Big Tech firms - antitrust watchdog head

10/19/2020 | 02:43am EST

* FTC can look into any big deal involving Fitbit

* Open to probe any market abuses by Big Tech firms

* FTC will begin research on Japan mobile phone market - Furuya

TOKYO, Oct 19 (Reuters) - Japan will join forces with the United States and Europe to take on any market abuses by the four Big Tech companies, the new head of its antitrust watchdog said on Monday, a sign Tokyo will join global efforts to regulate digital platform operators.

Kazuyuki Furuya, chairman of Japan's Fair Trade Commission (FTC), also said Tokyo could open a probe into any merger or business tie-up involving fitness tracker maker Fitbit if the size of such deals are big enough.

"If the size of any merger or business-tie up is big, we can launch an anti-monopoly investigation into the buyer's process of acquiring a start-up ," he told Reuters. "We're closely watching developments including in Europe."

EU antitrust regulators in August launched an investigation into a $2.1 billion deal by Alphabet unit Google's bid to buy Fitbit that aimed to take on Apple and Samsung in the wearable technology market.

Japan is laying the groundwork to regulate platform operators. Among them are big tech giants dubbed "GAFA" - Google, Apple, Amazon and Facebook - that face various antitrust probes in western nations.

Multi-national companies like GAFA have similar business practices across the globe, which makes global coordination crucial, Furuya said.

"We'll work closely with our U.S. and European counterparts, and respond if to any moves that hamper competition," he said.

"This is an area I will push through aggressively," he said, adding the FTC was ready to open probes if digital platformers abuse their dominant market positions against consumers.

Furuya, who assumed the post in September, also said the FTC would conduct research into Japan's mobile phone market to see whether there is any room for improvement to spur competition.

Any such move would help Prime Minister Yoshihide Suga's push to slash Japan's mobile phone charges, which he has repeatedly criticised as too high.

Furuya countered the view that helping the government meet its policy priorities could undermine the FTC's position as a body mandated to act independently from political meddling.

"If there's a policy priority for the government, there's no doubt the FTC should think about what it can do on that front," Furuya said.

"By participating in the government's debate on policy issues, we have been reflecting our thinking in the process. This is something our organisation should do." (Reporting by Leika Kihara and Takahiko Wada Editing by Chang-Ran Kim and Gerry Doyle)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 0.11% 1823.76 Delayed Quote.36.16%
AMAZON.COM, INC. -0.76% 3162.58 Delayed Quote.71.15%
APPLE INC. -0.56% 122.25 Delayed Quote.67.46%
FACEBOOK INC -0.76% 279.7 Delayed Quote.36.27%
FITBIT, INC. 0.28% 7.25 Delayed Quote.10.35%
SAMSUNG ELECTRONICS CO., LTD. 2.58% 71500 End-of-day quote.28.14%
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Financials
Sales 2020 238 290 B 220 B 220 B
Net income 2020 27 215 B 25,1 B 25,1 B
Net cash 2020 94 202 B 86,9 B 86,9 B
P/E ratio 2020 17,3x
Yield 2020 2,05%
Capitalization 480 739 B 443 B 444 B
EV / Sales 2020 2 017x
EV / Sales 2021 1 818x
Nbr of Employees -
Free-Float 82,9%
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Mean consensus BUY
Number of Analysts 39
Average target price 80 615,38 KRW
Last Close Price 71 500,00 KRW
Spread / Highest target 39,9%
Spread / Average Target 12,7%
Spread / Lowest Target -16,1%
EPS Revisions
Managers
NameTitle
Hyun-Suk Kim Co-President, Co-CEO & Director
Dongjin Koh Co-President, Co-CEO & Director
Kinam Kim President, Co-CEO & Director
Tae Moon Roh Co-President & Head-Research & Development
Jae-Wan Park Chairman
Sector and Competitors
1st jan.Capitalization (M$)
SAMSUNG ELECTRONICS CO., LTD.28.14%429 489
APPLE INC.67.66%2 090 202
XIAOMI CORPORATION135.16%78 734
WINGTECH TECHNOLOGY CO.,LTD19.59%20 685
FITBIT, INC.10.05%1 970
MERRY ELECTRONICS CO., LTD.-12.84%1 080