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MarketScreener Homepage  >  Equities  >  Japan Exchange  >  Toshiba Corporation    6502   JP3592200004

TOSHIBA CORPORATION

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Japanese shares edge higher a day after sharp sell-off; Toshiba peers gain

04/06/2021 | 11:00pm EDT

TOKYO, April 7 (Reuters) - Japanese shares ticked higher on Wednesday after posting their biggest drop in nearly two weeks in the previous session, while electronics makers advanced following news that Toshiba Corp had received a proposal to go private in a $20 billion deal.

The benchmark Nikkei share average climbed 0.01% to 29,694.37 by 0212 GMT, while the broader Topix rose 0.29% to 1,960.02. On Tuesday, the Nikkei and Topix had closed 1.3% and 1.5% lower, respectively.

"Investors are buying stocks after yesterday's sharp decline. This is a natural move," said Hideyuki Suzuki, general manager at investment research for SBI Securities.

"The news on Toshiba has sent electronics makers higher. Investors could be thinking that if the Toshiba gets delisted, they would have to shift the money to its peers."

Private equity firm CVC Capital Partners is proposing taking Toshiba private in a deal worth about $20 billion, Reuters reported citing a person familiar with the matter, as the tech giant faces pressure from activist shareholders to improve its governance.

Toshiba shares were untraded with a glut of buy orders at their daily-limit high. They were set to close the day 18.3% higher.

Fujitsu jumped 2.43%, Hitachi gained 1.24% and Sharp edged up 0.27%.

Shipping firm Nippon Yusen rose 1.3% after raising its profit forecast for the year ended March to 200 billion yen ($1.82 billion) from 160 billion yen.

Its peers Kawasaki Kisen advanced 1.83% and Mitsui OSK Lines climbed 1%.

Other cyclical shares also gained after the International Monetary Fund raised its global growth forecast to 6% this year, a rate not seen since the 1970s, from 5.5% earlier.

The Topix sub-index for materials gained the most among the 33 sub-indexes. ($1 = 109.6200 yen) (Reporting by Junko Fujita; Editing by Subhranshu Sahu)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
FUJITSU LIMITED -0.93% 16540 End-of-day quote.10.97%
HITACHI, LTD. -0.80% 5094 End-of-day quote.25.31%
KAWASAKI KISEN KAISHA, LTD. -6.18% 2643 End-of-day quote.25.14%
MITSUI O.S.K. LINES, LTD. -5.46% 3985 End-of-day quote.26.51%
NIKKEI 225 -0.77% 29538.73 Real-time Quote.8.47%
NIPPON YUSEN KABUSHIKI KAISHA -6.02% 3905 End-of-day quote.62.57%
SHARP CORPORATION -0.57% 1907 End-of-day quote.21.93%
TOSHIBA CORPORATION 6.21% 4530 End-of-day quote.57.02%
All news about TOSHIBA CORPORATION
05:48aTOSHIBA  : faces investor call to seek alternatives to CVC bid
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04:25aTOSHIBA  : Farallon calls on Toshiba to seek other offers -statement seen by Reu..
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02:42aJapanese shares fall as Yaskawa leads tech sell-off after earnings view disap..
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04/11Nikkei slips after industry bellwether Yaskawa earnings fail to inspire
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04/09TOSHIBA  : chairman issues cautious statement on CVC's take-private offer
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04/09TOSHIBA  : State-backed Japan Investment Corp, DBJ to join CVC's Toshiba bid - N..
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04/09TOSHIBA  : sets up team to review buyout plan by CVC Capital Partners
AQ
04/09Toshiba Board Chairperson Says CVC Capital Buyout Proposal Requires Clarifica..
MT
04/09TOSHIBA  : Comment by the Chair of Toshiba's Board on the Acquisition Proposal
BU
04/09TOSHIBA  : chairman issues cautious statement on CVC's take-private offer
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More news
Financials
Sales 2021 3 077 B 28 123 M 28 123 M
Net income 2021 83 553 M 764 M 764 M
Net Debt 2021 56 407 M 516 M 516 M
P/E ratio 2021 24,4x
Yield 2021 1,08%
Capitalization 2 056 B 18 791 M 18 793 M
EV / Sales 2021 0,69x
EV / Sales 2022 0,65x
Nbr of Employees 125 648
Free-Float 93,4%
Chart TOSHIBA CORPORATION
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Technical analysis trends TOSHIBA CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 4 467,27 JPY
Last Close Price 4 530,00 JPY
Spread / Highest target 12,6%
Spread / Average Target -1,38%
Spread / Lowest Target -13,2%
EPS Revisions
Managers and Directors
NameTitle
Nobuaki Kurumatani President, CEO & Representative Director
Masayoshi Hirata Chief Financial Officer & Head-Accounting
Satoshi Tsunakawa Chairman
Keiichi Yumita Head-Information Systems
Yutaka Sata Vice President-Research & Development
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