Japanese shares slip today on the back of some weak earnings reports and a slightly stronger yen. The Nikkei Average is down 0.5% to 11,315, with exporters leading declines: Sony (SNE -2.2%), Nissan (NSANY.OB -1%), Mazda (MZDAY.PK -2.6%), and Panasonic (PC -2.4%). Earnings disappointments also moved shares of Pioneer (PNCOF.PK -5.8%) down after saying it plans to cut jobs and now expects to post a FY year loss, Olympus (OCPNY.PK -3.3%) also slips after posting a narrower quarterly loss but trimming its own FY forecast due to weak camera sales.
Japanese stocks are lower this morning in the face of a pullback in U.S. stocks overnight, and a bit of profit-taking in blue-chip names ahead of the Bank of Japan's policy decision due later in the day. The Nikkei Average fell 0.5% to 10,109, with exporters were among the big losers: Nintendo (NTDOY.PK -1.5%), Sharp (SHCAY.PK -1.6%), Pioneer (PNCOF.PK -2.2%), and Nissan (NSANY.OB -3.4%).
Japanese stocks are lower out of the gate, with techs and exporters among the major decliners following the yen's overnight gains. The Nikkei Average is down 0.2% to 8,987, while the broader Topix is currently down 0.4%. Pioneer (PNCOF.PK) -5%, Nissan (NSANY.PK) -1.7%.