The Nikkei extended its decline, falling ¥208 to ¥63,081 in directionless trading. Following the morning session's decline, a wait-and-see mood spread ahead of the US midterm elections.
In Tokyo trading, the Nikkei opened down ¥318 at ¥62,972, extending its decline, and was down ¥195 at ¥63,095 at the morning close. The afternoon session saw periods of gains, but trading remained directionless amid a lack of catalysts ahead of the US midterm elections and the impact of the holiday. The Nikkei ultimately ended down ¥208 at ¥63,081. The TOPIX fell 34 points to 3,930, while the TSE Growth 250 for emerging-market stocks fell 6 points to 773.
Among individual stocks, Kioxia Holdings fell sharply, ending down 15.8% at ¥11,345 and extending its decline. Selling was driven by expectations that the outlook for third-quarter operating profit would fall sharply from the previous fiscal year, as well as the lack of an announcement on a share buyback. By contrast, Tokyo Electron ended up 5.2% at ¥10,005, with buying prevailing after its operating profit outlook for the fiscal year ending March 2027 was substantially raised to ¥2.169 trillion. Alps Alpine temporarily fell as much as 11.6% to ¥1,842, affected by a 78% year-on-year decline in net profit for the interim period of the fiscal year ending March 2027 and the booking of an extraordinary loss.
Elsewhere, Niterra rebounded 6.8% to ¥3,687. Its expected net profit for the fiscal year ending March 2027 was ¥125.0 billion, up 11% from the previous fiscal year, and investors welcomed expectations that it would exceed the previous forecast as well as strengthened shareholder returns. Genki Sushi, operated by Genki Global Dining Concepts, fell 13.5% to ¥2,989 after interim net profit for the fiscal year ending March 2027 fell 26% year on year to ¥1.5 billion, with higher expenses also weighing on the shares.