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MarketScreener Homepage  >  Equities  >  Japan Exchange  >  Showa Sangyo Co., Ltd.    2004   JP3366400004

SHOWA SANGYO CO., LTD.

(2004)
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Showa Sangyo : Weak yen a relief for BOJ, but pain for COVID-hit Japan retailers

04/02/2021 | 03:53am EDT
FILE PHOTO: A man wearing a protective mask walks past the headquarters of Bank of Japan amid the coronavirus disease (COVID-19) outbreak in Tokyo

TOKYO (Reuters) - The yen's recent weakness may be welcome news for the Bank of Japan as it seeks to revive an export-reliant economy, but not for retailers facing rising import costs that weigh on profits already hit by sluggish consumption from the COVID-19 pandemic.

The central bank's "tankan" quarterly survey showed big manufacturers' sentiment recovering to pre-pandemic levels in the first quarter thanks to robust exports.

But the March survey, released on Thursday, also showed an increase compared with three months ago in the ratio of companies that felt input prices were rising.

The ratio of companies feeling that sale prices were rising was smaller than that for input prices, suggesting that many companies were struggling to transfer rising costs to consumers.

"Domestic demand remains weak," said Kenta Maruyama, an economist at Mitsubishi UFJ Research & Consulting. "If Japan takes longer to contain the pandemic, more firms could face financial trouble," he said.

The yen is already much weaker than levels that companies base their earnings forecasts on. The tankan showed companies expect the dollar to move around 106 yen on average during the fiscal year that began on Thursday, April 1, below current levels around 110 yen.

Some firms are moving ahead with price hikes. Nisshin OilliO Group raised prices for household cooking oil by more than 20 yen per kilogram from April, and plans to hike again in June.

Showa Sangyo also raised cooking oil prices twice this year, including in March, as the weaker yen led to rising raw material and transportation costs.

For restaurants, rising raw material costs could be a fatal blow as sales continue to suffer from government requests for them to close early to prevent the spread of the coronavirus.

A total of 715 restaurants went bankrupt in the year that ended in March, the third largest number on record, following 784 bankruptcies the previous year, according to think-tank Teikoku Databank.

(Reporting by Kentaro Sugiyama; Additional reporting and writing by Leika Kihara; Editing by Gareth Jones)

By Kentaro Sugiyama


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
SHOWA SANGYO CO., LTD. 0.83% 3055 End-of-day quote.0.33%
THE NISSHIN OILLIO GROUP,LTD. 0.63% 3185 End-of-day quote.4.94%
All news about SHOWA SANGYO CO., LTD.
04/02SHOWA SANGYO  : Weak yen a relief for BOJ, but pain for COVID-hit Japan retailer..
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03/30SHOWA SANGYO CO., LTD. : Ex-dividend day for final dividend
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2020SHOWA SANGYO CO., LTD. : Ex-dividend day for interim dividend
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2020SHOWA SANGYO CO., LTD. : Ex-dividend day for final dividend
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2019SHOWA SANGYO CO., LTD. : Ex-dividend day for interim dividend
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2019SHOWA SANGYO CO., LTD. : Ex-dividend day for final dividend
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2018SHOWA SANGYO CO., LTD. : Ex-dividend day for interim dividend
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2018SHOWA SANGYO CO., LTD. : Ex-dividend day for final dividend
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2017SHOWA SANGYO CO., LTD. : Ex-dividend day for interim dividend
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2017SHOWA SANGYO CO., LTD. : REVERSE SPLIT: 1 of 5
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Financials
Sales 2021 255 B 2 330 M 2 330 M
Net income 2021 9 276 M 84,8 M 84,8 M
Net Debt 2021 34 253 M 313 M 313 M
P/E ratio 2021 10,4x
Yield 2021 2,15%
Capitalization 96 697 M 881 M 884 M
EV / Sales 2021 0,51x
EV / Sales 2022 0,47x
Nbr of Employees 2 421
Free-Float 64,5%
Chart SHOWA SANGYO CO., LTD.
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Showa Sangyo Co., Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends SHOWA SANGYO CO., LTD.
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 2
Average target price 3 650,00 JPY
Last Close Price 3 030,00 JPY
Spread / Highest target 41,9%
Spread / Average Target 20,5%
Spread / Lowest Target -0,99%
EPS Revisions
Managers and Directors
NameTitle
Kazuhiko Niitsuma President & Representative Director
Yoshiyasu Hosoi Executive Officer & Manager-Finance
Godai Murata Manager-Information Systems
Takashi Yanagiya Independent Outside Director
Takashi MIwa Independent Outside Director
Sector and Competitors