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Delayed Japan Exchange  -  05/23 10:30:00 pm EDT
11450.00 JPY    0.00%
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Japanese shares fall on Omicron concerns, SoftBank drags

12/26/2021 | 10:00pm EDT

TOKYO, Dec 27 (Reuters) - Japanese shares fell on Monday, with SoftBank Group leading declines, as concerns over the Omicron COVID-19 variant's impact offset gains in heavyweight technology stocks.

The Nikkei share average lost 0.2% to 28,721.58 by 0215 GMT, while the broader Topix slipped 0.30% 1,980.71.

Global technology investor SoftBank Group fell 1.99% on news that Credit Suisse is seeking information through U.S. courts, which could lead to it taking legal action in Britain against the Japanese company to recover certain funds.

"We do not have market moving events at home or abroad, and many people are still away from the markets, it is hard to make active bets," said Shigetoshi Kamada, general manager at the research department at Tachibana Securities.

The volume of shares traded on the Tokyo Stock Exchange's main board was 0.35 billion, compared with the average of 1.19 billion in the past 30 days.

"Under this environment investors chose to bet on a particular group of stocks, which were heavyweight chip-related, and any other shares were sold for an excuse of fears for the Omicron," Kamada added.

Technology shares advanced, with chip-related Tokyo Electron and Advantest rising 1.67% and 0.37%, respectively. Game maker Sony Group gained 0.81% and medical equipment maker Terumo climbed 0.78%.

Retailers, meanwhile, took a hit as more cases of the highly transmissible variant were found in Japan, raising concerns of tighter curbs slowing the economic recovery from the pandemic.

Uniqlo clothing shop operator Fast Retailing was the biggest drag on the Nikkei, falling 1.75%.

Home interior goods retailer Nitori Holdings tumbled 7.38% and Muji-brand retail stores Ryohin Keikaku lost 1.65%.

There were 64 advancers on the Nikkei index against 152 decliners. (Reporting by Junko Fujita; Editing by Devika Syamnath)

© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ADVANTEST CORPORATION -1.03% 8630 Delayed Quote.-20.09%
CREDIT SUISSE GROUP AG 3.31% 6.8 Delayed Quote.-25.81%
FAST RETAILING CO., LTD. -0.86% 59930 Delayed Quote.-8.70%
NIKKEI 225 0.98% 27001.52 Real-time Quote.-7.13%
NITORI HOLDINGS CO., LTD. -1.28% 12345 Delayed Quote.-28.39%
RYOHIN KEIKAKU CO., LTD. -1.06% 1312 Delayed Quote.-27.25%
SOFTBANK GROUP CORP. -1.21% 5212 Delayed Quote.-3.72%
SONY GROUP CORPORATION 0.00% 11450 Delayed Quote.-20.38%
TERUMO CORPORATION 0.41% 4119 Delayed Quote.-17.00%
TOKYO ELECTRON LTD 0.44% 58960 Delayed Quote.-11.90%
TOPIX INDEX -0.55% 1884.35 Delayed Quote.-5.77%
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Sales 2022 10 010 B 78 356 M 78 356 M
Net income 2022 875 B 6 849 M 6 849 M
Net Debt 2022 634 B 4 961 M 4 961 M
P/E ratio 2022 16,2x
Yield 2022 0,55%
Capitalization 14 158 B 111 B 111 B
EV / Sales 2022 1,48x
EV / Sales 2023 1,33x
Nbr of Employees 109 700
Free-Float 97,1%
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Mean consensus BUY
Number of Analysts 19
Last Close Price 11 450,00 JPY
Average target price 16 175,79 JPY
Spread / Average Target 41,3%
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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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