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    5713   JP3402600005

SUMITOMO METAL MINING CO., LTD.

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Heavyweights pull Nikkei lower, Topix gains on drugmakers' boost

06/08/2021 | 03:56am EDT

TOKYO, June 8 (Reuters) - Japan's Nikkei stock index ended lower on Tuesday, dragged down by losses in heavyweights, including Softbank Group, while a rally in drugmakers lifted the broader Topix index.

Nikkei inched down 0.2% to close at 28,963.56, while the Topix edged up 0.1% at 1,962.65.

Most heavyweights fell, with global start-up investor SoftBank Group slipping 1.6%, while air-conditioner maker Daikin Industries down 3.1%. Sumitomo Metal Mining was the biggest loser dropping 4.1% decline.

Eisai Co was the biggest gainer, jumping 19.4%, to its daily upper limit, after U.S. regulators on Monday approved a drug jointly developed by the drugmaker and Biogen Inc's as the first treatment to attack a likely cause of Alzheimer's disease.

Daiichi Sankyo and Astellas Pharma also rose 4.9% and 0.8%, respectively.

Leading gains among subindexes on the Topix, pharma and sea transport subindex rose 2.8% each. Air transport and land transport rose 1.6% and 0.9%, respectively.

"The news on Eisai has given a boost to its peers as well as the overall market," said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities.

"Investors are also scooping up Japanese shares which lagged behind their global peers, as prospects of an economic recovery has brightened amid a rollout of COVID-19 vaccines."

An early gain for the Nikkei was snuffed out as investors were cautious ahead of the U.S. consumer price index (CPI) report this week and the U.S. central bank's meeting next week, market participants said.

There were 105 decliners on the Nikkei index against 110 advancers, with 10 stocks unchanged. (Reporting by Junko Fujita and Kevin Buckland; Editing by Rashmi Aich)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ASTELLAS PHARMA INC. 0.10% 1907 End-of-day quote.19.64%
BIOGEN INC. 0.39% 330.225 Delayed Quote.34.43%
DAIICHI SANKYO COMPANY, LIMITED 0.04% 2225.5 End-of-day quote.-37.04%
DAIKIN INDUSTRIES,LTD. 0.77% 22900 End-of-day quote.-0.09%
EISAI CO., LTD. 0.57% 9309 End-of-day quote.26.28%
IWAICOSMO HOLDINGS, INC. 0.64% 1409 End-of-day quote.7.48%
NIKKEI 225 -1.80% 27283.59 Real-time Quote.1.23%
SANKYO CO., LTD. -0.89% 2782 End-of-day quote.-0.29%
SOFTBANK GROUP CORP. 4.08% 7020 End-of-day quote.-12.88%
SUMITOMO METAL MINING CO., LTD. 1.04% 4475 End-of-day quote.-2.27%
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Financials
Sales 2022 1 112 B 10 142 M 10 142 M
Net income 2022 137 B 1 247 M 1 247 M
Net Debt 2022 257 B 2 347 M 2 347 M
P/E ratio 2022 8,99x
Yield 2022 3,91%
Capitalization 1 230 B 11 227 M 11 210 M
EV / Sales 2022 1,34x
EV / Sales 2023 1,38x
Nbr of Employees 7 072
Free-Float 85,8%
Chart SUMITOMO METAL MINING CO., LTD.
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Sumitomo Metal Mining Co., Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends SUMITOMO METAL MINING CO., LTD.
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 9
Last Close Price 4 475,00 JPY
Average target price 5 385,56 JPY
Spread / Average Target 20,3%
EPS Revisions
Managers and Directors
Akira Nozaki President & Representative Director
Yoshiaki Nakazato Chairman
Masahiro Morimoto Manager-Accounting & Head-Secretariat
Atsushi Idegami Managing Executive Officer & GM-Technology
Hitoshi Taimatsu Independent Outside Director
Sector and Competitors