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4-Traders Homepage  >  Equities  >  Tokyo  >  Shin-Etsu Chemical Co Ltd    4063   JP3371200001

SHIN-ETSU CHEMICAL CO LTD (4063)
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Japan, Kazakhstan to develop rare earth metals: media

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04/29/2012 | 07:32am CEST

TOKYO (Reuters) - Japan and Kazakhstan plan to sign an agreement to jointly develop rare earth metals critical to electronics and auto makers, aiming to lower dependence on China, the Asahi Shimbun daily said on Sunday.

Japan's Trade Minister Yukio Edano will meet Kazakh government officials, including President Nursultan Nazarbayev, to sign the agreement in early May, making way for Sumitomo Corp (>> Sumitomo Corp), Japan Oil, Gas and Metals National Corp and Kazatoprom to partner in rare earth extraction, the paper said.

Higher prices of rare earths from China are squeezing Japanese manufacturers of batteries and electronics, forcing them to cut usage and seek alternatives.

Japan and Kazakhstan will build a plant in Stepnogorsk, northern Kazakhstan and use technology developed by Shin-Etsu Chemical Co (>> Shin-Etsu Chemical) to isolate dysprosium, used in motors for electric and hybrid cars, from soil processed for uranium, the paper said.

The plant will go onstream as early as this summer and ship 30 tonnes of the material to Japan this year, with shipments to rise to more than 50 tonnes next year, the paper said. Japan's annual demand for the element is roughly 500 tonnes.

Japan's Trade Ministry, Sumitomo and JOGMEC officials were unavailable to comment.

The European Union, the United States and Japan have asked the World Trade Organization to settle a dispute with China over Beijing's restriction on rare earth metal exports.

(Reporting by Mayumi Negishi, Editing by Jonathan Thatcher)

Stocks treated in this article : Shin-Etsu Chemical, Sumitomo Corp
Stocks mentioned in the article
ChangeLast1st jan.
SHIN-ETSU CHEMICAL CO LTD -0.52% 9983 End-of-day quote.-16.18%
SUMITOMO CORP -0.25% 1826.5 End-of-day quote.-5.63%
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Financials ( JPY)
Sales 2019 1 544 B
EBIT 2019 -
Net income 2019 282 B
Finance 2019 1 079 B
Yield 2019 1,61%
P/E ratio 2019 15,00
P/E ratio 2020 13,87
EV / Sales 2019 2,06x
EV / Sales 2020 1,85x
Capitalization 4 268 B
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Shin-Etsu Chemical Co Ltd Technical Analysis Chart | 4063 | JP3371200001 | 4-Traders
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 14 177  JPY
Spread / Average Target 42%
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Managers
NameTitle
Yasuhiko Saitoh President & Representative Director
Chihiro Kanagawa Chairman
Fumio Akiya Vice Chairman & Head-Technology
Toshinobu Ishihara Senior MD, Manager-Research & Development
Shunzo Mori Director
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