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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  SHIFT, Inc.    3697   JP3355400007

SHIFT, INC.

(3697)
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EU Dijsselbloem Didn't Say Cyprus A Template For Bank Restructurings-Spokeswoman

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03/25/2013 | 01:18pm EDT

BRUSSELS--Comments by Jeroen Dijsselbloem, head of the Eurogroup of euro-zone finance ministers, were not intended to say that the Cypriot bank bail-in agreed by ministers last night should be a model for the future, his spokeswoman said Monday.

In an interview with Reuters and the Financial Times Monday, Mr. Dijsselbloem said the losses suffered by uninsured depositors in Cyprus as part of its rescue package may have to be repeated elsewhere. The comments led to a sharp drop on some European stock markets and pushed the single currency lower.

"If there is a risk in a bank, our first question should be 'Okay, what are you in the bank going to do about that? What can you do to recapitalize yourself?'," Mr. Dijsselbloem said hours after the Cypriot deal was reached.

"If the bank can't do it, then we'll talk to the shareholders and the bondholders, we'll ask them to contribute in recapitalizing the bank, and if necessary the uninsured deposit holders."

Asked about the comments, Mr. Dijsselbloem's spokeswoman sought to backtrack on the way the comments were interpreted.

"He didn't say it was a template or should be a template," the spokeswoman said. "With banks in countries in trouble, you shouldn't automatically go to the taxpayers but see what the banks themselves can contribute.'

Although his comments represent a sharp shift in rhetoric by euro-zone officials, who have preferred to emphasize the strengthening of the euro zone's institutional defenses over the last year, they repeat basic principles that have been used in previous bail-outs: notably, that shareholders and creditors should first bear the cost of resolving failed banks. They differ mainly in the explicit reference to the 'bailing-in' of uninsured depositors.

Write to Matthew Dalton, Laurence Norman and Geoffrey T. Smith at Matthew.Dalton@wsj.com, Laurence.norman@dowjones.com and geoffrey.smith@dowjones.com

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Financials
Sales 2020 29 350 M 281 M 281 M
Net income 2020 1 500 M 14,3 M 14,3 M
Net Debt 2020 - - -
P/E ratio 2020 153x
Yield 2020 -
Capitalization 229 B 2 183 M 2 186 M
Capi. / Sales 2020 7,79x
Capi. / Sales 2021 5,69x
Nbr of Employees 2 001
Free-Float 62,8%
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Mean consensus HOLD
Number of Analysts 2
Average target price
Last Close Price 14 410,00 
Spread / Highest target -
Spread / Average Target -
Spread / Lowest Target -
EPS Revisions
Managers
NameTitle
Masaru Tange President, CEO & Representative Director
Kazuya Mashiko CFO, Executive Officer & GM-Administration
Motoya Kobayashi Director
Osamu Suzuki Director
Tetsujiro Nakagaki Independent Outside Director
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