The Nikkei is ahead 2.2% following Tokyo's winning bid for the 2020 Summer Olympics. The news however, will likely boost PM Shinzo Abe's popularity along with the chance of his sales tax increase being implemented next April.
The government also raised its estimate of Q2 GDP growth to +3.8% from +2.6% previously. Consensus forecasts called for a 3.9% increase.
The yen slips half of a percent, with the dollar now buying ¥99.64.