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    6758   JP3435000009

SONY GROUP CORPORATION

(6758)
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Delayed Japan Exchange  -  05/18 10:30:00 pm EDT
11315.00 JPY   -2.20%
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Japan's Nikkei hits 14-month low; rate hike concerns hit tech shares

01/26/2022 | 09:59pm EDT

TOKYO, Jan 27 (Reuters) - Japan's Nikkei index reversed course to hit a 14-month low on Thursday, dragged down by technology heavyweights, as investors were concerned about the outlook on Wall Street after the U.S. Federal Reserve signalled an early rate hike.

The Nikkei share average lost 2.4% to 26,366.17 by 0208 GMT, after hitting its lowest level since Nov. 26, 2020 earlier in the session.

The broader Topix down 1.91% to 1,855.78.

Both the indexes opened higher.

"U.S. market was not solid yesterday. That made investors cautious and they bet Wall Street might fall later today," said Seiichi Suzuki, chief equity market analyst at Tokai Tokyo Research Institute.

"The Japanese market rose earlier only because investors tried to buy at cheap."

Overnight, all three major U.S. stock indexes gyrated wildly in the final minutes of a session that ended with the Dow joining the S&P in negative territory and the Nasdaq eking out a nominal gain.

In Japan, electric motor maker Nidec fell 4.63%, giving up early gains, after its third-quarter operating profit dipped as rising material prices and a shortage of semiconductors squeezed margins.

Technology start-up investor SoftBank Group tanked 7.02%, chip-related Advantest lost 6.23% and game maker Sony Group fell 5.82%.

Bucking the trend, Fanuc rose 2.48% and was the top gainer on the Nikkei after the robot maker raised its annual operating profit forecast.

Trading firm Marubeni gained 3.12% after announcing the sale of the grains business of its U.S. unit Gavilon to commodities trader Glencore Plc's Viterra arm.

Insurance sector gained 0.77% amid rising U.S. bond yields but the banks snapped gains to edge down 0.27%. (Reporting by Junko Fujita; Editing by Rashmi Aich)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ADVANTEST CORPORATION -2.73% 8550 Delayed Quote.-20.73%
FANUC CORPORATION -2.03% 19760 Delayed Quote.-17.29%
GLENCORE PLC 0.35% 500 Delayed Quote.32.87%
NASDAQ COMP. -4.73% 11418.15 Real-time Quote.-23.40%
NIDEC CORPORATION -3.67% 8030 Delayed Quote.-38.56%
NIKKEI 225 0.94% 26911.2 Real-time Quote.-7.40%
S&P 500 -4.04% 3923.68 Real-time Quote.-14.21%
SOFTBANK GROUP CORP. -2.37% 5015 Delayed Quote.-5.74%
SONY GROUP CORPORATION -2.20% 11315 Delayed Quote.-22.35%
TOKAI CORP. -0.48% 1660 Delayed Quote.-15.14%
TOPIX INDEX -2.03% 1846.39 Delayed Quote.-6.31%
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Analyst Recommendations on SONY GROUP CORPORATION
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Financials
Sales 2022 10 010 B 78 081 M 78 081 M
Net income 2022 875 B 6 825 M 6 825 M
Net Debt 2022 634 B 4 943 M 4 943 M
P/E ratio 2022 16,4x
Yield 2022 0,55%
Capitalization 14 306 B 112 B 112 B
EV / Sales 2022 1,49x
EV / Sales 2023 1,29x
Nbr of Employees 109 700
Free-Float 97,1%
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Mean consensus BUY
Number of Analysts 19
Last Close Price 11 570,00 JPY
Average target price 16 175,79 JPY
Spread / Average Target 39,8%
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Managers and Directors
Kenichiro Yoshida Chairman, President & Chief Executive Officer
Hiroki Totoki CFO, Representative Director & Vice President
Makoto Toyoda Chief Information Officer & Executive Officer
Tsuyoshi Kodera Head-Information Systems & Security
Hiroaki Kitano Chief Technology Officer
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