"Investors are selling shares to lock in profit from this week's gain"
- Naoki Fujiwara, chief fund manager at Shinkin Asset Management Co.
Japanese stocks lost ground on Friday after company earnings came in worse than expected.
The Nikkei 225 Stock Average fell 0.97 per cent, or 87.16 points, to 8,891.44. The broader Topix Index retreated 0.67 per cent, or 5.05, to 746.79.
"Investors are selling shares to lock in profit from this week's gain," said Naoki Fujiwara, chief fund manager at Shinkin Asset Management Co. in Tokyo.
"Earnings at domestic-demand focused companies aren't bad, but those depending on external demand are being hurt by the yen's appreciation and European debt problems."
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