In Tokyo on Monday the Nikkei 225 fell 2.24 percent to 16,438.47 and the Topix index dropped 1.77 percent to 1,563.07, but the Mothers market of small and mid-caps managed a 1.04 percent gain to 911.42.

Exporters dropped as the yen strengthened in relation to the US dollar.

Construction machinery manufacturer Komatsu (TYO: 6301) was 2.9 percent lower to ¥3,720 after its US rival Caterpillar (NYSE: CAT) cut its profits outlook on a downturn in sales in the United States.

Game console maker Nintendo (TYO: 7974; NAS: NTDOY; FWB: NTO) was also 2.9 percent lower to ¥64,800, while automobile manufacturers Toyota (TYO: 7203.T; NYSE: TM; LSE: TYT) and Honda (TYO: 7267; NYSE: HMC) each fell 2.1 percent, to ¥6,120 and ¥3,750 respectively.

It was Honda’s lowest close in a month and a 14-month low for Toyota.

Banks were still in the doldrums, with Mitsubishi UFJ trading even at ¥1,027 after early-session declines and Sumitomo Mitsui down 0.6 percent to ¥832,000 even though the consumer finance sector, in which they hold stakes, was much higher on the session.

Acom (TYO: 8572) gained 14 percent to ¥3,000 while Aiful (TYO: 8515) added 18 percent to ¥2,670.

In Tokyo on Friday the Nikkei 225 dropped 1.71 percent to 16,814.37 and the Topix index fell 1.64 percent to 1,591.28.

On the other hand, the Mothers market added 2.06 percent on the session to 902.03.

Banks were lower after Thursday’s report from US bank Bank of America (NYSE: BAC; TYO: 8648) that its profits had dropped by 32 percent in the third quarter.

Mitsubishi UFJ (TYO: 8306; NYSE: MTU) was down 1.3 percent to ¥1,027 while Mizuho (TYO: 8411; NYSE: MFG) was 2.2 percent lower to ¥616,000.

The consumer finance sector, however, saw gains after Acom (TYO: 8572) issued a preliminary report that its operating profit was up by 63 percent in its fiscal first half.

Acom jumped 18 percent to ¥2,640, while Takefuji (TYO: 8564) gained 17 percent to ¥2,700 and Aiful (TYO: 8515) added 15 percent to ¥2,270.

Exporters saw declines as the yen strengthened against the US dollar.

Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) was 1.6 percent lower to ¥6,250.

Among domestically-focused shares, cement manufacturers were lower on downgrades from Mizuho.

Taiheiyo Cement dropped 3.5 percent to ¥356, while Sumitomo Osaka Cement fell 5.5 percent to ¥260.

Tokyo’s markets were lower on the session Tuesday.

The Nikkei 225 was down 1.27 percent to 17,137.92 and the Topix index was 1.94 percent lower to 1,625.25, while the Mothers market dropped 3.98 percent to 833.11.

There were big losses in financial services of various kinds and in the real estate sector.

Banks were lower on new concerns about the subprime mortgage crisis.

Mizuho Financial (TYO: 8411; NYSE: MFG) was 5.1 percent lower to ¥631,000 and Mitsubishi UFJ (TYO: 8306; NYSE: MTU) was down 6 percent to ¥1,059.

Nomura Holdings (TYO: 8604; NYSE: NMR; SGX: N33), meanwhile was 0.5 percent lower to ¥2,070.

In the consumer finance sector Acom (TYO: 8572) dropped 4 percent to ¥2,305 and Orix (TYO: 8591) fell 6.6 percent to ¥25,230, while Takefuji (TYO: 8564) was down 7.2 percent to ¥2,380.

Meanwhile, in the real estate sector, Sumitomo Realty (TYO: 8830) was 2.9 percent lower to ¥3,980 and Pacific Management (TYO: 8902) dropped 8.1 percent to ¥159,000.

There were gains in the oil sector after crude oil prices soared above the $86 per barrel level in the US on Monday.

Inpex (TYO: 1605) added 2.4 percent to ¥1.3 million while refiner Cosmo Oil gained 3.3 percent to ¥527.

Tokyo’s markets were mixed on Friday’s session.

The Nikkei 225 dropped 0.16 percent to 17,065.04, but the Topix index added 0.08 percent to 1,656.91 while the Mothers market gained 3.98 percent to 848.78.

Decliners on the session included Casio Computer (TYO: 6952), which makes a diverse range of devices including watches and mobile phones.

Casio dropped 19 percent, its daily maximum, to ¥1,272 after it reported that net income in its fiscal first half dropped by 58 percent, spurring broker downgrades.

Elsewhere in the electronics sector, Matsushita Electric Industrial (TYO: 6572; NYSE: MC) fell 3.3 percent to ¥2,080.

Traders and the oil sector gained on higher oil prices.

Trader Mitsui & Co. (TYO: 8031) was 0.7 percent higher to ¥2,800.

In the oil sector, Inpex (TYO: 1605) gained 2.5 percent to ¥1.21 million, while AOC Holdings (TYO: 5017) added 2.6 percent to ¥1,769.

Retailer Aeon (TYO: 8267) was 3 percent higher to ¥1,672 on a report that its net income in its fiscal first half added 2.8 percent and as it announced a higher dividend for the full year and a stock buyback worth up to ¥70 billion.

There were also gains in the consumer finance sector.

Promise (TYO: 8574) was up 4.6 percent to ¥2,960 on reports that it will post a higher net income in the current fiscal year than had been estimated.

Acom (TYO: 8572; OTC: ACMU) added 5.2 percent to ¥2,840, while Aiful (TYO: 8515) jumped 17 percent to ¥2,115.

Tokyo’s markets were lower in limited trade on Friday ahead of another three-day weekend.

The Nikkei 225 was down 0.62 percent to 16,312.61, while the Topix index fell 0.94 percent to 1,552.07 and the Mothers market was 0.37 percent lower to 625.93.

Exporters were lower as the yen gained value versus the US dollar and investors worried that sales in the US could decline.

Among carmakers, Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) dropped 1.9 percent to ¥6,560 while Honda Motor (TYO: 7267; NYSE: HMC) was down 3.1 percent to ¥3,750.

In the electronics sector, Sony was 1.8 percent lower to ¥5,340 while camera maker Canon (TYO: 7751; NYSE: CAJ) fell 2.2 percent to ¥6,150.

Sharp (TYO: 6753) and Pioneer (TYO: 6773) were both lower after reports that each company will buy shares in the other.

Sharp dropped 2 percent to ¥1,920 and Pioneer was 2.2 percent lower to ¥1,370.

The consumer finance sector was lower for a second day in a row following Thursday’s announcement of losses by UFJ Nicos (TYO: 8583).

Acom (TYO: 8572) dropped 8.8 percent to ¥2,335, while UFJ Nicos fell another 13 percent to ¥207, Aiful (TYO: 8515) slipped 13.7 percent to ¥1,494 and Takefuji (TYO: 8564) was 13.8 percent lower to ¥2,000.

Commodities-related shares, however, saw gains as prices rose.

In the oil sector, Inpex (TYO: 1605) gained 2.5 percent to ¥1.22 million, while Sumitomo Metal Mining (TYO: 5713) added 5.1 percent to ¥2,770.

Equities markets were mixed in Tokyo on Thursday, with the real estate sector higher but the consumer finance and semiconductors sectors in decline.

The Nikkei 225 was 0.2 percent higher to 16,413.79, but the Topix index retreated slightly and was down 0.05 percent to 1,566.84.

The Mothers market of small and mid-caps also declined, falling 0.81 percent to 628.23.

The consumer finance sector was down substantially after UFJ Nicos (TYO: 8583) said that instead of a profit it would lose ¥100 billion this fiscal year.

Nicos, which is part of Mitsubishi UFJ Financial Group (TYO: 8306; NYSE: MTU), was 13.4 percent lower to ¥241.

Elsewhere in the sector Aiful (TYO: 8515) dropped 11 percent to ¥1,732, while Acom (TYO: 8572) was down 7.8 percent to ¥2,560 and Promise (TYO: 8574) fell 4.5 percent to ¥2,655.

The semiconductors sector also saw declines after analysts at Dramexchange said that the price of computer memory will decline next quarter due to oversupply.

Chip-making equipment maker Advantest (TYO: 6857; NYSE: ATE) was 4.7 percent lower to ¥3,690, while Tokyo Electron (TYO: 8035) dropped 4.9 percent to ¥7,340.

The real estate sector was higher on a government report that said commercial land prices were higher in the year ending in June.

Mitsui Fudosan (TYO: 8801; NAS: MDSFF) gained 1.6 percent to ¥2,860, while Sumitomo Realty & Development (TYO: 8830) added 1.7 percent to ¥3,610.

Tokyo’s markets were lower on Tuesday as they reopened after Monday’s Respect for the Aged Day holiday.

The Nikkei 225 dropped 2.02 percent to 15,801.80, while the Topix index fell 2.19 percent to 1,510.95 and the Mothers market was 2.64 percent lower to 620.42.

Banks were lower on continuing fallout from Northern Rock’s (LSE: NRK) problems in the UK and on expectations that several US investment banks will report quarterly losses later in the week.

Mitsubishi UFJ (TYO: 8306; NYSE: MTU) dropped 3.9 percent to ¥990,000, the first time it has fallen below the ¥1 million level in just over two years.

Besides the general disorder in the banking sector, Mitsubishi UFJ was also sent lower by a report that its US unit was fined nearly $32 million in the US over inadequate protections against money laundering.

Sumitomo Mitsui (TYO: 8316) was down 5.1 percent to ¥776,000 and Mizuho ( TYO: 8411; NYSE: MFG) fell 7.9 percent to ¥605,000.

Non-bank lenders also had a bad day of it. Acom (TYO: 8572; OTC: ACMU) was 5.6 percent lower to ¥2,765, while Aiful (TYO: 8515) dropped 9.7 percent to ¥1,855 and Credia (TYO: 8567) plummeted 32 percent to ¥167 after it filed for bankruptcy protection, saying that it will have problems raising capital and repaying debt.

Most exporters fared little better, but camera and office equipment manufacturer Canon (TYO: 7751; NYSE: CAJ) added 1.7 percent to ¥6,090 as it announced a share buyback worth as much as ¥50 billion.

Carmaker Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) was down 2.1 percent to ¥6,390 and electronics giant Sony (TYO: 6758; NYSE: SNE) fell 2.2 percent to ¥5,300 on fears that the US economy could be affected by problems in the credit markets.

In Tokyo on Wednesday the Nikkei 225 fell 1.1 percent to 18,049.51, while the Topix index declined 1.2 percent to 1,767.72.

Exporters in Tokyo were hurt by a stronger yen as well as the declines in New York.

In the automobile manufacturing sector Honda Motor (TYO: 7267; NYSE: HMC) fell 1.3 percent to ¥4,470, while Toyota Motor (TYO: 7203; NYSE: TM; LSE: TYT) dropped 1.7 percent to ¥7,660.

In the electronics sector Kyocera (TYO: 6971) was down 1.2 percent to ¥12,880, while Sony (TYO: 6758; NYSE: SNE) was 2 percent lower to ¥6,330 and Canon (TYO: 7751; NYSE: CAJ) fell 2.3 percent to ¥6,960.

Not all electronics groups were lower however. Toshiba (TYO: 6502; LSE: TOS) added 4.5 percent to ¥1,125 on an upgrade from “underperform” to “buy” from broker CLSA.

Condiment maker Bull-Dog Sauce (TYO: 2804) went untraded after only one transaction after US hedge fund Steel Partners appealed a ruling that favored Bull-Dog and called the hedge fund an “abusive acquirer”.

Bull-Dog Sauce was 12.1 percent lower at ¥725.

In the retail sector Aeon (TYO: 8267) dropped 3.1 percent to ¥2,195 on its report that operating profit in the most recent quarter was down 16 percent because of poor sales at Talbots (NYSE: TLB), the US clothing retailer in which it owns a majority of shares.

Tokyo markets were higher as the Nikkei 225 and the Topix index each added 0.3 percent, to 18,221.48 and 1,788.16 respectively.

However, the consumer finance sector there saw declines on media reports that many borrowers are asking for refunds of overcharges on loan interest.

Promise (TYO: 8574) fell 2.4 percent to ¥3,710, while Aiful (TYO: 8515) was 4 percent lower to ¥3,360 and Acom (TYO: 8572; OTC: ACMU) dropped 4.1 percent to ¥4,250.

Bucking the trend was Credit Saison (TYO: 8253), which added 1.3 percent to ¥3,200.

The retail sector added 0.8 percent as a whole, with Aeon (TYO: 8267) up 0.9 percent to ¥2,310. Seven & I (TYO: 3382) gained 2.6 percent to ¥3,600 on an upgrade from “neutral” to “buy” from Merrill Lynch (NYSE: MER; TYO: 8675).

In the electronics sector, Matsushita Electric Industrial (TYO: 6572; NYSE: MC) was 0.4 percent higher to ¥2,445, while Nintendo (TYO: 7974; NAS: NTDOY; FWB: NTO) gained 0.5 percent to ¥48,250 and Sony (TYO: 6758; NYSE: SNE) added 2.4 percent to ¥6,460 after recent declines due to poor sales of its PlayStation 3 games console.

Retail sectors advanced in Tokyo on Thursday after new gross domestic product figures showed that the Japanese economy grew at an annualized rate of 4.8 percent in the last quarter of 2006, above expectations of 3.8 percent growth for the quarter. It is widely expected that the Bank of Japan will use the new report as an excuse to hike interest rates when it next meets. The Nikkei 225 added 0.81 percent to 17,897.23, its highest close since May 2000. The Topix index gained 0.65 percent to 1,776.71.

Department stores and general retail both were helped by the new data. Among department stores, Marui added 7.28 percent to ¥1,533, while Mitsukoshi gained 7.75 percent to ¥584. Takashimaya was 10.03 percent higher to ¥1,690. Japan’s largest general retailer, Seven & I Holdings, was up 4.75 percent to ¥3,750.

The consumer finance sector, on the other hand, declined. Orient dropped 19.41 percent to ¥191 after it said it expects to incur losses for the current fiscal year. It blamed new, more stringent government rules on how much interest lenders can charger their customers for the anticipated narrowing of margins. Acom dropped 0.88 percent on the session, to ¥4,480.