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    9984   JP3436100006

SOFTBANK GROUP CORP.

(9984)
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SoftBank, Uniqlo maker rebound, pulling Nikkei higher amid COVID-19 caution

07/05/2021 | 11:32pm EDT

TOKYO, July 6 (Reuters) - Japan's Nikkei rose on Tuesday, helped by a rebound in shares of Daikin Industries, Uniqlo-maker Fast Retailing and SoftBank Group after steep declines in the previous session.

The Nikkei share average was up 0.5% at 28,725.81 by the midday break, while the broader Topix was also 0.5% higher at 1,959.34.

Daikin rallied 3.7%, with Fast Retailing adding 0.8% and SoftBank advancing 1.4%. These three stocks contributed some three-quarters of the total gain for the Nikkei because of their weightings.

On Monday, the Nikkei had slid 0.6% even as most other shares in Asia climbed, after a weekend spike in COVID-19 infections in Tokyo just weeks before the city hosts the Olympics.

Japan's government looks likely to decide on Thursday to extend a state of quasi-emergency in Tokyo and three nearby prefectures beyond an original end-date of July 11.

"It looks like there is some buying back of shares after yesterday's sell-off," said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management.

But even so, sentiment remains cautious, he said.

"There will soon be a big influx of athletes and media from around the world for the Olympics, and investors worry there could be a spike in infections, which is capping any rise in Japanese stocks."

Hitachi Zozen was the biggest percentage gainer on the Nikkei, rising 4.5%; while the biggest loser was Mitsubishi Motors, which suffered a 3.1% decline.

Among sectors, air transport gained the most on the Topix, adding 3%. Mining was next, up 2.9%, followed by oil and coal producers, which rose 2.7%.

Pharma companies fell the most, down 0.4%, with securities firms down 0.3%, followed by a 0.2% decline for shippers. (Reporting by Kevin Buckland in Tokyo; Editing by Shailesh Kuber)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
DAIKIN INDUSTRIES,LTD. 0.97% 26145 End-of-day quote.14.07%
FAST RETAILING CO., LTD. 1.50% 77100 End-of-day quote.-16.62%
HITACHI ZOSEN CORPORATION 1.22% 911 End-of-day quote.59.82%
MITSUBISHI MOTORS CORPORATION 2.91% 283 End-of-day quote.30.41%
SOFTBANK GROUP CORP. 2.76% 6627 End-of-day quote.-17.76%
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Analyst Recommendations on SOFTBANK GROUP CORP.
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Financials
Sales 2022 6 040 B 54 440 M 54 440 M
Net income 2022 1 310 B 11 806 M 11 806 M
Net Debt 2022 14 983 B 135 B 135 B
P/E ratio 2022 9,10x
Yield 2022 0,66%
Capitalization 11 353 B 103 B 102 B
EV / Sales 2022 4,36x
EV / Sales 2023 4,13x
Nbr of Employees 58 786
Free-Float 69,3%
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Mean consensus BUY
Number of Analysts 15
Last Close Price 6 627,00 JPY
Average target price 10 325,87 JPY
Spread / Average Target 55,8%
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Managers and Directors
Masayoshi Son Chairman & Executive President
Yoshimitsu Goto CFO, Director & Senior Managing Executive Officer
Raul Marcelo Claure Chief Operating Officer & Executive Vice President
Tim Mackey Chief Legal Officer & Group Compliance Officer
Masami Iijima Independent Outside Director
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