Nikkei, Topix down on day
Equities markets in Tokyo were down significantly on Wednesday as both export-focused and domestic sectors saw declines on the day. The Nikkei 225 was down 1.5 percent to 15,964.46, while the Topix index also dropped 1.5 percent, to 1,635.60.
Among companies that depend on exports, Sony declined by 1.6 percent to ¥5,440 and high-tech manufacturer Ibiden fell 4.9 percent to ¥5,250. Carmaker Toyota was 1.6 percent lower, trading at ¥6,150.
Domestically, retailers were down 1.8 percent as a whole. Holding company Seven & I, which operates convenience stores and department stores, was down 2.1 percent to ¥4,680 when it cut 2006 profit forecasts by 25 percent.
The securities sector dropped 2.1 percent, with Nomura falling 1.8 percent to ¥2,205. Nikko Cordial was down 2.5 percent to ¥1,816.
Shares related to internet companies were down after Google’s announcement that its growth was beginning to slow down. Yahoo Japan declined by 2.9 percent to ¥134,000, while Softbank dropped 4.9 percent to ¥3,460.