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    9984   JP3436100006

SOFTBANK GROUP CORP.

(9984)
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Delayed Japan Exchange  -  02:00 2022-06-24 am EDT
5224.00 JPY   +2.37%
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Nikkei sees best day since late-March, led by SoftBank gains

05/13/2022 | 02:43am EDT

TOKYO, May 13 (Reuters) - Japan's Nikkei benchmark stock index posted its biggest rise in more than a month and half as investors scooped up cheap stocks, with SoftBank Group leading gains.

The Nikkei share average jumped 2.64% to 26,427.65, its sharpest daily rise since March 23, rebounding from a two-month low hit in the previous session. The index lost 2.1% this week.

The broader Topix rose 1.91% to 1,864.20, but fell 2.7% for the week.

SoftBank Group provided the biggest boost to the Nikkei, surging 12.22%, even after posting a record loss at its Vision Fund investment arm, and an annual net loss of 1.7 trillion yen ($13.16 billion) for the group.

"SoftBank's big loss had been already priced in its shares so investors were not surprised by the outcome," said Shuji Hosoi, senior strategist at Daiwa Securities.

Yutaka Miura, senior technical analyst at Mizuho Securities, said investors bought SoftBank on expectations the Nasdaq would rise later in the day.

Heavyweight Tokyo Electron advanced 5.54% on the chip equipment maker's robust annual forecast for this fiscal year.

Nissan Motor slipped 2.93% after the automaker warned of flat operating profit this fiscal year, far below analysts' expectations.

There were 174 advancers on the Nikkei index against 49 decliners.

The volume of shares traded on the Tokyo Stock Exchange's main board was 1.69 billion, compared to the average of 1.23 billion in the past 30 days.

($1 = 129.1400 yen) (Reporting by Junko Fujita; Editing by Vinay Dwivedi)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
DAIWA SECURITIES GROUP INC. -0.79% 604.2 Delayed Quote.-6.86%
MIURA CO., LTD. 3.01% 2736 Delayed Quote.-30.91%
NASDAQ COMPOSITE 3.34% 11607.62 Real-time Quote.-29.35%
NIKKEI 225 1.23% 26491.97 Real-time Quote.-9.10%
NISSAN MOTOR CO LTD -1.16% 544.5 Delayed Quote.-2.03%
SOFTBANK GROUP CORP. 2.37% 5224 Delayed Quote.-3.86%
TOKYO ELECTRON LTD 3.98% 46730 Delayed Quote.-29.50%
TOPIX INDEX 0.81% 1866.72 Delayed Quote.-7.06%
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Analyst Recommendations on SOFTBANK GROUP CORP.
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Financials
Sales 2022 6 171 B 45 677 M 45 677 M
Net income 2022 728 B 5 386 M 5 386 M
Net Debt 2022 16 223 B 120 B 120 B
P/E ratio 2022 12,1x
Yield 2022 0,84%
Capitalization 8 396 B 62 143 M 62 143 M
EV / Sales 2022 3,99x
EV / Sales 2023 4,15x
Nbr of Employees 58 786
Free-Float 65,4%
Chart SOFTBANK GROUP CORP.
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Technical analysis trends SOFTBANK GROUP CORP.
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 17
Last Close Price 5 224,00 JPY
Average target price 7 558,24 JPY
Spread / Average Target 44,7%
EPS Revisions
Managers and Directors
Masayoshi Son Chairman & Executive President
Yoshimitsu Goto CFO, Director & Senior Managing Executive Officer
Tim Mackey Chief Legal Officer & Group Compliance Officer
Masami Iijima Independent Outside Director
Yutaka Matsuo Independent Outside Director
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