Equities markets were lower in Tokyo on Wednesday as profit-taking continued in several sectors. The Nikkei 225 dropped 0.6 percent to 17,383.42, while the Topix index fell 0.6 percent as well, to 1,721.96.

The shipping sector was lower not only on profit-taking but as crude oil prices rose. The sector as a whole dropped 1.5 percent. Mitsui OSK Lines was 1 percent lower to ¥1,256, while Nippon Yusen fell 1.7 percent to ¥923 and Kawasaki Kisen dropped 2.8 percent to ¥1,044.

In the electronics sector, Sony dropped 1.4 percent to ¥5,550 after an improved annual profits forecast didn’t meet with investor approval.

Toyota Motor was 1.1 percent lower to ¥7,950, higher than the 1 percent decline in the sector as a whole. Exporters were hurt even though the US dollar remained high versus the yen during the trading day.

Nikko Cordial was 14.5 percent lower to ¥1,184 after it was revealed that the company’s accounting scandal included manipulation of earnings by top executives in the company, raising the chances that it will be delisted by the Tokyo Stock Exchange. The new revelations came from an in-house investigation.

In Tokyo on Monday the Nikkei 225 and the Topix index each added 0.3 percent on the session, to close at 17,470.46 and 1,733.59 respectively.

Export-focused sectors benefited as the yen weakened versus the US dollar. The machinery sector gained 1.4 percent as a whole, with Komatsu ending 3.4 percent higher to ¥2,560.

The steel sector gained on the news that JFE is in talks with South Korea’s Hyundai Steel. Nippon Steel added 1 percent to ¥711, while JFE was 1.6 percent higher to ¥6,800.

Word of a bird flu outbreak in Japan translated to gains for Chugai Pharmaceutical, the manufacturer of Tamiflu, which is believed to be effective against the disease in humans. Chugai added 1.8 percent to ¥2,780 on the session.

Internet and telecommunications company Softbank added 5.6 percent to ¥2,735 on an upgrade from Credit Suisse. The broker upped its recommendation from “under perform” to “outperform” and raised its target share price from ¥1,340 to ¥3,110.

In the retail sector, news that Wal-Mart could be looking for acquisitions in Japan sent its Japanese division, Seiyu, 13.1 percent higher to ¥190 on merger hopes.

In Tokyo on Thursday, the Nikkei 225 dropped 0.3 percent to close at 17,485.30 as the yen strengthened after recent weakness. The decline came after the index achieved another six-year high early in the session. Despite this, many analysts believe that advances will be limited this year due to shares that they believe are too highly valued at present.

Some export-focused stocks were hurt by the currency’s gains. Printer and copier maker Canon fell 1.2 percent to ¥6,530. But not all exporters declined on the session. Helped by good results in tech stocks in the US, Sony added 1.6 percent to ¥5,720.

There were gains in the pharmaceuticals sector. Chugai Pharmaceutical added 6.5 percent to ¥2,715 after it announced, along with partner Roche, that studies for its new rheumatoid arthritis drug were proceeding well.

Shipper were higher after positive comments from Mizuho Securities. Mitsui OSK Lines was 1.1 percent higher to ¥1,264, while Kawasaki Kisen gained 1.15 percent to ¥1,053.

Yahoo Japan, up 1.05 percent to ¥48,250, reported that its quarterly profits were up by 20 percent.

The real estate sector, which has added more than 40 percent since last July, continued to rise even though some analysts believe that stocks are currently overvalued. Mitsui Fudosan added 1.6 percent on the session to ¥3,100.

The Tokyo equities markets saw very little movement on Tuesday. The Nikkei 225 was lower, but only by 0.1 percent to 17,408.57, while the Topix index held steady at 1,730.76.

Steelmakers were higher on the session, protecting the markets from losses in other sectors. Tokyo Steel Manufacturing added 3.2 percent to ¥1,755 an the announcement that it will increase the prices it charges for its products. Nippon Steel gained 4.3 percent to ¥695, its highest share price in 16 years, helped by an earlier hike it its target share price, from ¥600 to ¥760, by UBS. The broker said that the target was raised due to increased demand for high-grade steel.

The construction sector saw declines as a bids-rigging scandal continued to unfold with searches of the offices of several companies. Obayashi dropped 2.3 percent to ¥733, while Shimizu fell 3.2 percent to ¥612 and Kajima was 3.7 percent lower to ¥544.

Banks and the real estate sector both were lower as investors took profits. The banking sector dropped 0.4 percent, with Mitsubishi UFJ falling 1.3 percent to ¥1,530,000. Meanwhile, the real estate sector was 1.1 percent lower with Mitsubishi Estate down 0.9 percent to ¥3,360 and Mitsui Fudosan 1.3 percent lower to ¥3,080.

In the Tokyo equities markets on Monday, the Nikkei 225 ended the trading session at 17,424.18, a gain of 0.7 percent to its highest close in nine months.  Meanwhile, the Topix index added 0.9 percent to 1,730.33.

Two corporations dropped significantly due to scandals.  Construction company Obayashi dropped 5.3 percent to ¥750 after a raid by government prosecutors due to accusations that it was one of several companies suspected to engaging in bids-rigging in connection with an extension of the underground rail system in Nagoya.  The construction sector as a whole was weathering the scandal fairly well, however, falling just 0.4 percent on the session.

In the other scandal, bookseller Maruzen was 8.4 percent lower to ¥197 after it said it would have to report an extraordinary loss of ¥800 million this year to compensate for several years of bookkeeping irregularities.

The pharmaceuticals sector added 1.2 percent as a whole as investors continued to hope for more consolidation in the sector after last week’s announcement that Tanabe Seiyaku and Mitsubishi Pharma, a division of Mitsubishi Chemical were in talks toward a merger.  Results were mixed within the sector however, with Mitsubishi Pharma adding 0.7 percent to ¥813 but Tanabe down 0.1 percent to ¥1,671.

Banks were helped by news from consumer credit company Aiful that it will cut approximately 1,300 jobs and reduce the size of its branch network by half.  The banking sector was 2.2 percent higher as a whole, with Mitsubishi UFJ adding 2.6 percent to ¥1,550,000.  Aiful ended the session up by just 0.2 percent to ¥4,030.

The Tokyo equities markets were lower on Friday, with the Nikkei 225 down 0.4 percent to 17,310.44 and the Topix index 0.1 percent lower top 1,714.21.  The exception was the Mothers index of small and mid-cap stocks, which added 5.9 percent to 1,247.00 after a 4 percent gain on Thursday.

The semiconductors sector was lower, with Tokyo Electron dropping 2.5 percent to ¥8,940.  Advantest fell 3.5 percent to ¥6,290.  They were affected by quarterly reports from US companies in the sector.

Banks were also lower on the session, with the sector as a whole lower by 1.1 percent in the wake of Thursdays decision by the Bank of Japan to hold interest rates at 0.25 percent.  The banks could have benefited if rates had been increased, with the possibility that their loan margins might have gone up.  Mizuho Financial was 0.7 percent lower to ¥890,000, while Mitsubishi UFJ dropped 1.3 percent to ¥1.51 million.

Consumer finance companies, on the other hand, saw gains, with Aiful up 4.4 percent to ¥4,020.  The sector was not looking forward to an interest rate hike, which would have increased their funding costs.

The real estate sector also saw gains, with a 2.3 percent advance for the whole sector.  Mitsui Fudosan added 1.7 percent to ¥3,060, while Sumitomo Realty & Development was 4.1 percent higher to ¥4,080.

Tokyo equities markets were higher on Thursday in the wake of the decision by the Bank of Japan to leave interest rates at their current level for the time being. The Nikkei was 0.6 percent higher to 17,370.93, while the Topix index added 0.5 percent to 1,715.17. The Mothers market of small and mid-cap stocks gained 4 percent to 1,177.77.

Banks, which had been anticipating a rate hike, only declined slightly in its absence. This was likely due to the fact that by Wednesday it had become clear that a higher interest rate was not to be forthcoming this month. Mizuho Financial dropped 0.2 percent to ¥896,000.

The real estate sector, which figured to be hurt by higher interest rates, added 1.4 percent as a whole. Mitsui Fudosan gained 1.4 percent to ¥3,010, while Sumitomo Realty & Development was 2.4 percent higher to ¥3,920.

The yen was weaker after the bank’s decision helped the machinery sector, which is largely focused on exports, 0.7 percent higher. Construction machinery manufacturer Komatsu added 1.2 percent to ¥2,455.

The pharmaceuticals sector was higher on merger rumors. Tanabe Seiyaku gained 5.4 percent to ¥1,716 after it was learned that it is talking with Mitsubishi Pharma. Mitsubishi is a division of Mitsubishi Chemical, which added 5.6 percent to ¥815. Takeda Pharmaceutical was 1.8 percent higher to ¥8,020.

There were slight gains in the Tokyo equities markets on Wednesday as investors continue to hesitate ahead of the Bank of Japan’s interest rate decision, due Thursday. The Nikkei 225 added 0.3 percent to 17,261.35, while the Topix index was up 0.2 percent to 1,706.76.

The banking sector was lower, dropping 1.1 percent as a whole. Sumitomo Trust & Banking matched the sector with a 1.1 percent decline, to ¥1,309. Mitsubishi UFJ held steady at ¥1,530,000.

On the other hand, the real estate sector saw gains on the session. Mitsui Fudosan was 1.9 percent higher to ¥2,970, while Sumitomo Realty & Development added 2.1 percent to ¥3,830 and Mitsubishi Estate was up 2.9 percent to ¥3,240.

With the yen weaker, some export-focused stocks were up, with the machinery sector gaining 1 percent. Construction equipment manufacturer Komatsu gained 1.5 percent to ¥2.425.

The Japanese semiconductors sector was lower on the session after US chipmaker Intel said that its profits in the fourth quarter were down by 40 percent and warned that margins would not improve anytime soon. Tokyo Electron dropped 0.3 percent to ¥9,270, while Advantest fell 0.5 percent to ¥6,630.

NTT DoCoMo was 0.5 percent lower to ¥190,000 after its spring line of mobile units failed to impress.

With investors seeming to want to hold off on committing their money anywhere before the Bank of Japan makes its decision on interest rates Thursday, the Tokyo equities markets moved very little on Tuesday. The Nikkei 225 was unchanged at 17,202.46, while the Topix index was lower, but only by 0.1 percent to 1,703.54.

In the retail sector, department stores were lower on worries that early January sales will turn out to have been less than hoped. Mitsukoshi dropped 0.7 percent to ¥562, while Isetan fell 1.1 percent to ¥2,185. Takashimaya was 2.6 percent lower to ¥1,591 and Daimaru was down 2.7 percent to ¥1,507.

After an industry organization predicted double-digit growth for the 2007-2008 fiscal year, stocks related to the manufacture of computer chips saw gains. Tokyo Electron was 1.2 percent higher to ¥9,300, while Advantest gained 1.8 percent to ¥6,660.

The securities sector was still being helped by consolidation rumors. The sector as a whole added 0.5 percent, with Matsui Securities up 0.9 percent to ¥983 and Nikko Cordial added 2.1 percent to ¥1,337. Nikko Cordial, however, is still significantly lower than it was directly before an accounting scandal was revealed in December.

Equities markets in Tokyo were up on Monday, with the Nikkei 225 adding 0.9 percent to 17,209.92 and the Topix index ending 1.1 percent higher to 1,704.58. The Topix was helped by new data showing that core machinery orders in the private sector were up 3.8 percent in November. The new numbers helped not only the construction machinery sector but also the banking sector, as the data raised the chances that the Bank of Japan will raise interest rates when it meets later this week.

The banking sector was 2 percent higher as a whole, with Mitsubishi UF up 1.3 percent to ¥1,530,000. Sumitomo Trust & Banking added 2.8 percent to ¥1,325, while SMFG gained 3.3 percent to ¥1,270,000.

The news that Shinko Securities and Mizuho Securities will merge promoted more consolidation speculation in the securities sector, which added 2.7 percent on the session. Daiwa Securities was 3.4 percent higher to ¥1,394. Meanwhile, Nikko Cordial gained 3.3 percent to ¥1,309 after it was learned that Canadian investment management firm Mackenzie Financial has become its largest shareholder.

In the construction machinery sector, Fanuc added 1.5 percent to ¥11,350, while Komatsu was up 1.7 percent to ¥2,365.

Among export-focused stocks, Sharp was 0.4 percent higher to ¥1,992, while Honda gained 1.7 percent to ¥4,690.