TOKYO: Japanese shares dipped on Monday as investors looked to the peak of quarterly earnings results this week, with many of them ready to take profit near the Nikkei's psychological resistance at the big number of 30,000.
The Nikkei share average fell 0.22% to 29,547.39, unable to maintain an early lead from record highs on Wall Street last week after a strong jobs data, and slipping further from a one-month high of 29,880.81 touched on Thursday.
The broader Topix ticked down 0.09% to 2,039.59, with decliners outnumbering advancers roughly by a ratio of 5 to 4.
Japanese shares track Wall Street higher; Toyota outlook in focus
Domestic earnings were the biggest drivers of the market.
Mixi sank by daily-limit, losing 18.2%, after the internet firm cut its earnings guidance sharply on poor sales of its main game service.
Robot maker Daifuku shed 8.4% on its earnings miss, while Kubota lost 8.0% after the manufacturer of agricultural machines and other goods also fell short of expectations in its quarterly earnings.
On the other hand, precision machine maker Olympus jumped 6.7% on bumper earnings results, while Round One , operator of bowling alleys and amusement centres, gained 10.2% after revising up net profit outlook thanks to government subsidies for shutdowns due to the pandemic.
More than 1,500 companies are scheduled to announce quarterly results this week, including SoftBank Group on Monday, Nissan Motor on Tuesday and Tokyo Electron on Friday.
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