The Nikkei average gave up its opening gains to fall 0.81 per cent today as caution set in ahead of earnings reports from major companies including Matsushita Electric Industrial Co. Ltd.
Shares in Sharp Corp, the world's second largest liquid crystal display TV maker, reversed course and declined after the company yesterday reported a 14 per cent rise in quarterly profit, which was not enough to surprise investors.
But Nissan Motor Co. Ltd. jumped on the view that its quarterly earnings were not as poor as previously thought.
The Nikkei fell 121.17 points to 14,884.07. Soon after the open the average had risen as high as 15,108.14.
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The TOPIX index was down 0.94 per cent at 1,520.44.