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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Sharp Corporation    6753   JP3359600008

SHARP CORPORATION

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Alibaba, JD.com say U.S. was top seller to China during Singles' Day event

11/12/2020 | 12:01am EST
Alibaba's 11.11 Singles' Day global shopping festival

BEIJING/SHANGHAI (Reuters) - Alibaba and JD.com said the United States was the top seller of goods to China during the Singles' Day shopping extravaganza that generated about $116 billion in merchandise volume for the pair.

Singles' Day is usually a one-day sales event, the world's biggest, eclipsing Black Friday and Cyber Monday in the United States. Many online companies offer deals at the event.

This year, companies including Alibaba Group Holding Ltd and JD.com Inc offered promotions over several days, with sales widely interpreted as indicative of China's rebounding post-virus economy.

Customers, unable to travel abroad because of the COVID-19 pandemic, snatched up deals from brands including Huawei Technologies Co Ltd and Fast Retailing Co Ltd's Uniqlo.

Alibaba generated gross merchandise volume (GMV) of 498.2 billion yuan ($75.28 billion). JD.com, which recorded 271.5 billion yuan in GMV, told Reuters on Wednesday that best-selling products included Apple Inc iPhones, L'Oreal SA's Lancome toner and 60-inch smart LCD TVs from Sharp Corp.

Alibaba offered promotions in two windows starting Nov. 1 but calculated GMV over 11 days. JD.com offered deals Nov. 1 through Nov. 11.

The event was overshadowed by news that China aimed to propose anti-monopoly rules for internet platforms.

Alibaba's Hong Kong-listed stock, which took a beating when regulators scuppered the listing of fintech affiliate Ant Group, dropped another 10% on Wednesday. It was up 3% around midday Thursday.

Alibaba said other top-selling countries this year included Australia, Germany, Japan and South Korea. Over 470 firms exceeded 100 million yuan in GMV. Last year, Alibaba merely named Japan and the United States among biggest sellers.

Alibaba clocked GMV of $38.4 billion in a single day last year and said 299 brands surpassed 100 million yuan in GMV, including Nestle SA and Under Armour Inc.

($1 = 6.6181 Chinese yuan renminbi)

(Reporting by Brenda Goh and Josh Horwitz in Shanghai, and Sophie Yu in Beijing; Writing by Sayantani Ghosh; Editing by Christopher Cushing)

By Sophie Yu and Josh Horwitz


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED -0.60% 258.51 Delayed Quote.11.82%
APPLE INC. -1.83% 139.52 Delayed Quote.7.89%
FAST RETAILING CO., LTD. -0.24% 90460 End-of-day quote.-2.17%
JD.COM, INC. 0.72% 90.685 Delayed Quote.2.49%
L'ORÉAL -0.20% 297 Real-time Quote.-4.25%
NESTLÉ S.A. -0.67% 103.14 Delayed Quote.-0.42%
PINDUODUO INC. 3.73% 173.25 Delayed Quote.-6.40%
SHARP CORPORATION 4.77% 2350 End-of-day quote.50.26%
UNDER ARMOUR, INC. 2.42% 17.74 Delayed Quote.1.05%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.38% 6.47073 Delayed Quote.-0.36%
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Financials
Sales 2021 2 342 B 22 421 M 22 421 M
Net income 2021 51 849 M 496 M 496 M
Net Debt 2021 508 B 4 858 M 4 858 M
P/E ratio 2021 26,1x
Yield 2021 0,75%
Capitalization 1 435 B 13 794 M 13 740 M
EV / Sales 2021 0,83x
EV / Sales 2022 0,79x
Nbr of Employees 52 876
Free-Float 38,4%
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Technical analysis trends SHARP CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 11
Average target price 1 250,00 JPY
Last Close Price 2 350,00 JPY
Spread / Highest target -23,4%
Spread / Average Target -46,8%
Spread / Lowest Target -74,5%
EPS Revisions
Managers and Directors
NameTitle
Cheng Wu Tai Chairman & Chief Executive Officer
Katsuaki Nomura Executive President, COO & Representative Director
Mototaka Taneya Managing Executive Officer, GM-R&D Business
Hse Tung Lue Outside Director
Yasuo Himeiwa Independent Outside Director
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