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    8035   JP3571400005

TOKYO ELECTRON LIMITED

(8035)
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Japanese shares track Nasdaq higher, drug makers shine

06/15/2021 | 02:50am EDT

TOKYO, June 15 (Reuters) - Japanese shares closed higher on Tuesday, buoyed by technology and growth-oriented stocks following a strong finish on the Nasdaq overnight, while drug makers extended their gains.

The Nikkei jumped 0.96% to 29,441.30, posting its biggest gain since late May, while the broader Topix rose 0.8% to 1,975.48, closing at its highest since early April.

Hopes of global trade recovery and economic reopenings at home underpinned market sentiment, while investors awaited the U.S. Federal Reserve's two-day policy meeting due to start later in the day.

"Today's strong market finish is simply a reaction to the gains in the Nasdaq overnight," said Jun Morita, general manager of the research department at Chibagin Asset Management.

"Investors have regained confidence in the market as COVID-19 vaccine rollouts have been smooth and accelerated."

Drug makers were the top gainers among the Tokyo Stock Exchange's 33 sectors with a rise of 1.65%. Eisai jumped 6.59%, making it the biggest gainer on the Nikkei.

Eisai shares have been volatile since the company's Alzheimer's drug, developed in partnership with Biogen Inc , got a nod from U.S. regulators last week. The U.S. Food and Drug Administration is facing mounting criticism over the drug approval.

Takeda Pharmaceutical, which is handling the supply of Novavax's COVID-19 vaccine in Japan, rose 1.69% after clinical tests showed the U.S. firm's vaccine candidate is more than 90% effective against a variety of variants of the virus.

Tokyo Electron, a leading supplier of chipmaking equipment, advanced 1.68%, while Toyota Motor jumped 1.77% to reach a record high.

Growth stocks led the gains after Nasdaq shares outperformed on Wall Street, with the Topix Growth Index rising 1.09%, compared with 0.53% gains in value shares. (Reporting by Junko Fujita and Hideyuki Sano; Editing by Shailesh Kuber and Subhranshu Sahu)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BIOGEN INC. -0.74% 326.73 Delayed Quote.33.44%
EISAI CO., LTD. -3.50% 8983 End-of-day quote.21.85%
NOVAVAX, INC. -2.54% 179.33 Delayed Quote.60.82%
TAKEDA PHARMACEUTICAL COMPANY LIMITED -1.97% 3682 End-of-day quote.-1.94%
TOKYO ELECTRON LIMITED -1.25% 44920 End-of-day quote.16.98%
TOYOTA MOTOR CORPORATION -0.52% 9805 End-of-day quote.23.22%
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Financials
Sales 2022 1 669 B 15 214 M 15 214 M
Net income 2022 329 B 3 001 M 3 001 M
Net cash 2022 352 B 3 210 M 3 210 M
P/E ratio 2022 21,3x
Yield 2022 2,35%
Capitalization 6 988 B 63 663 M 63 699 M
EV / Sales 2022 3,98x
EV / Sales 2023 3,57x
Nbr of Employees 14 479
Free-Float 95,1%
Chart TOKYO ELECTRON LIMITED
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Tokyo Electron Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends TOKYO ELECTRON LIMITED
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 21
Last Close Price 44 920,00 JPY
Average target price 50 906,62 JPY
Spread / Average Target 13,3%
EPS Revisions
Managers and Directors
Toshiki Kawai President, CEO & Representative Director
Tetsuo Tsuneishi Chairman
Charles Ditmars Lake Independent Outside Director
Micho Sasaki Independent Outside Director
Akiko Eda Independent Outside Director
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