TOKYO: Japanese stocks fell for a second day, with the Nikkei 225 Stock Average dipping below 9,000 for the first time in three months, as concern Greece may be forced to exit the euro outweighed improved earnings outlooks. Toyota Motor Corp. rose after forecasting profit will more than double.
The Nikkei 225 Stock Average lost 0.5% to 9,002.10 as of 9:20 a.m. in Tokyo, headed for its lowest close since Feb. 10. The broader Topix Index fell 0.2% to 764.11, with more than three stocks declining for each that rose.
Mitsubishi Motors Corp., an automaker that gets 27% of its sales from Europe, slid 2.4%. Nippon Yusen K.K., Japan’s biggest shipping company by sales, fell 3.2% after a gauge of cargo rates declined. Toyota advanced 1.6%. Tokyo Electric Power Co. rose 6% after the government took control of the utility. (Bloomberg/T05)
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