In Tokyo on Wednesday the Nikkei 225 added 0.64 percent to 17,029.28, while the Topix index gained 0.53 percent to 1,669.04.

On the other hand, the Mothers market dropped 2.15 percent to 783.78.

Condiments maker Bull-Dog Sauce (TYO: 2804) dropped 16 percent, the most the exchange allows in a day, to ¥530 after it revised its annual profit forecast from a gain of ¥500 million to a loss of ¥980 million due to its spending to repel a hostile takeover by hedge fund Steel Partners, which said that it was reducing its bid for Bull-Dog Sauce from ¥1,700 per share to ¥425 per share.

With machinery orders down 10.4 percent in June, much more than analysts had expected, machinery makers saw declines. Komatsu (TYO: 6301) fell 4.6 percent to ¥3,550 while Amada Co (TYO:6113), which produces metal cutting machines and automation systems, dropped 5.6 percent to ¥1,345.

Banks, down recently, saw gains after a series of declines. Mitsubishi UFJ (TYO: 8306; NYSE: MTU) gained 3.5 percent to ¥1.2 million, while Mizuho (TYO: 8411; NYSE: MFG) was up 3.6 percent to ¥712,000.

The telecommunications sector was also higher as new data showed that several mobile phone operators have gained subscribers.

NTT DoCoMo (TYO: 9437) was 3 percent higher to ¥171,000, while Softbank (TYO: 9984) was up 4.5 percent to ¥2,555 and KDDI (TYO: 9433) gained 5.2 percent to ¥808,000.

Besides the new subscriber data, KDDI was also reported to be joining with Kyocera (TYO: 6971; NYSE: KYO), its biggest shareholder, to apply for the necessary permits to offer wireless internet services.

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.

Equities markets in Tokyo were lower on Tuesday, with the Nikkei 225 down 0.1 percent to 18,252.67 and the Topix 0.2 percent lower to 1,789.2.

The declines were blamed on profit-taking in several sectors and on a stronger yen which, which hurt export-focused shares.

The drops also came ahead of a meeting of the Bank of Japan, which will consider what to do with interest rates.

In the electronics sector, Sony (TYO: 6758; NYSE: SNE) dropped 1.1 percent to ¥6,460, while JVC (TYO: 6792) was 7 percent lower to ¥359 on a lower earnings estimate from Nomura Securities (TYO: 8604; NYSE: NMR; SGX: N33).

Copier and camera maker Canon (TYO: 7751; NSYE: CAJ) fell 1 percent to ¥7,120.

Condiment makers were lower after a court decision ended a US hedge fund’s takeover bid for Bull-Dog Sauce (TYO: 2804), which dropped to ¥825.

Soy sauce maker Kikkoman (TYO: 2801) dropped 3.9 percent to ¥1,645.

Among gainers, electronics retailer Bic Camera (TYO: 3048) added 13.4 percent to ¥169,000 after it announced a 2-for-1 share split and upped the forecast for its yearly dividend.