Tokyo shares retreated today as investors acted cautiously ahead of tomorrow's US Federal Reserve's policy meeting and a slew of company earnings results expected later in the week.
The Nikkei 225 closed down 1.22 per cent or 170.99 to 13,873.02, while the capital-weighted Topix fell 12.51 to 1,364.25.
Fallers outnumbered gainers 943 to 394, amid thin trading with a total of 616 million shares exchanging hands. Weakness was particularly pronounced among blue-chip high-tech issues.
Losses were led by Kyocera, which fell 2.6 per cent to Y11,630, on concern that the ceramic chip package-maker may report sobering results for the year ended March due tomorrow.
Murata Manufacturing, an electronic components maker, fell 2.2 per cent to Y11,110 - the company is also posting results later in week.
Chip-makers also slipped. NEC fell 1.6 per cent to Y2,195, Toshiba was down 1.2 per cent to Y769, and tech leader Sony fell 2.5 per cent to Y9,630. Car makers Toyota and Nissan, who are expected to post fiscal 2,000 results later in the week, were also weaker.
Toyota fell 1.5 per cent to Y4,050 while Nissan eased 1.4 per cent to Y822.
Among individual corporate news, Taiheiyo Cement, Japan's largest cement-maker, plummeted 11.2 per cent to Y255 on reports Mexico's Cemex, the world's third-largest cement-maker, will begin selling cement in Japan later this year.
(Financial Times Service)