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    2501   JP3320800000

SAPPORO HOLDINGS LIMITED

(2501)
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Delayed Japan Exchange  -  12:54 2022-08-19 am EDT
3065.00 JPY   -0.33%
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Japan's Nikkei loses early gains on Wall St's recession fears

06/22/2022 | 11:11pm EDT

June 23 (Reuters) - Japanese stocks were flat in Thursday morning trading, reversing early gains made following an overnight session that saw Wall Street end down on the day as investors continued to worry over the possibility of a recession.

The Nikkei share average was down 0.01% at 26,146.71 at the break, continuing to trade above the psychological 26,000 mark after having dipped as low as 25,520.23 on Monday.

Of the Nikkei's 225 components 106 made gains, while 112 lost value and seven were flat.

The broader TOPIX index gained 0.03% to 1853.18.

"When global markets are facing rate increases and recession, Japan is positioned differently," said Shuji Hosoi, senior strategist at Daiwa Securities.

"The Bank of Japan decided to keep its monetary policy unchanged, and the economic activities have started picking up since the COVID-19 restrictions were lifted."

But others had a murkier outlook.

"There is a strong sense of caution about an economic slowdown caused by tighter monetary policy in the U.S.," said a market participant at a domestic securities company.

Toshiba shares gained 4.47% to 5,747 following a Reuters report overnight that bidders are preparing a takeover offer that would value the troubled conglomerate at 7,000 yen a share, or about $22 billion.

The Nikkei's best-performing sector was utilities, up 1.12% overall. Basic materials firms dragged on the index, losing 2.3%.

Top Nikkei performers included travel firm Tokyu Corp , up 3.07%, Sumitomo Pharma Co Ltd, up 2.99%, and Tokio Marine Holdings Inc, up 2.53%.

Beverage manufacturers Sapporo Holdings Ltd and Kirin Holdings Co Ltd gained 2.12% and 1.97%, respectively.

The worst performing stock on the Nikkei was Sumitomo Metal Mining Co Ltd, losing 5.52%. (Reporting by Sam Byford; Editing by Shailesh Kuber)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
DAIWA SECURITIES GROUP INC. 0.28% 615.3 Delayed Quote.-5.06%
KIRIN HOLDINGS COMPANY, LIMITED -0.18% 2245 Delayed Quote.22.71%
NIKKEI 225 -0.96% 28942.14 Real-time Quote.1.50%
SAPPORO HOLDINGS LIMITED -0.33% 3065 Delayed Quote.38.11%
SUMITOMO DAINIPPON PHARMA CO., LTD. -0.74% 1077 Delayed Quote.-16.53%
SUMITOMO METAL MINING CO., LTD. 0.32% 4424 Delayed Quote.1.75%
TOKIO MARINE HOLDINGS, INC. -0.89% 7661 Delayed Quote.20.90%
TOKYU CORPORATION -0.48% 1643 Delayed Quote.9.10%
TOPIX INDEX 0.22% 1994.72 Delayed Quote.0.74%
TOSHIBA CORPORATION 0.55% 5279 Delayed Quote.11.95%
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Financials
Sales 2022 464 B 3 436 M 3 436 M
Net income 2022 5 277 M 39,1 M 39,1 M
Net Debt 2022 209 B 1 550 M 1 550 M
P/E ratio 2022 45,5x
Yield 2022 1,37%
Capitalization 240 B 1 773 M 1 773 M
EV / Sales 2022 0,97x
EV / Sales 2023 0,94x
Nbr of Employees -
Free-Float 83,7%
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Mean consensus UNDERPERFORM
Number of Analysts 6
Last Close Price 3 075,00 JPY
Average target price 2 350,00 JPY
Spread / Average Target -23,6%
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Managers and Directors
Masaki Oga Group Executive Officer
Shizuka Uzawa Independent Outside Director
Mackenzie Clugston Independent Outside Director
Shuji Fukuda Independent Outside Director
Mayumi Fukuhara Personnel Manager
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