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Article: JAPAN RESOURCE, MATERIALS SHARES UNDERVALUED DESPITE GOOD ROE.
- Article from:
- AsiaPulse News
- Article date:
- February 9, 2009
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TOKYO, Feb 9 Asia Pulse - Companies dealing in natural resources and basic materials have some of the lowest price-earnings ratios in a Nikkei ranking of businesses with high marks for capital efficiency.
The ranking covered listed nonfinancial firms with market capitalizations of at least 10 billion yen (US$108 million). Those that forecast upward of 10 per cent pretax profit growth in the current fiscal year and which have maintained a return on equity of 10 per cent or more for the past two years were ranked by PE ratios in ascending order.
Chuo Denki Kogyo Co. (TSE:5566), which specializes in ferromanganese and other iron alloys, had the lowest PE ...