Japanese equities tumbled on Friday amid concerns that revenues of Japanese firms in China are falling amid territorial tensions between two countries. Limiting the downswing, Spain announced fresh spending cuts presenting its budget for 2013. Moreover, slightly better than expected figures from the national real estate and job markets supported Japanese stocks. The Nikkei 225 Index lost 0.89% to end the week at 8,870.16. All but one sectors within the index plunged. The only gainer was telecommunications sector, with KDDI Corp and Softbank Corp adding 0.50% and 1.61%. Olympus also advanced after announcing that it will start developing surgical endoscopes with Sony Corp. Dragging the Japanese stock index lower, technology sector and financials retreated 1.88% and 1.48%. Citizen Holdings, Alps Electric and Hitachi plunged 1.49%, 1.70% and 0.23%, respectively. Among lenders, Bank of Yokohama, Fukuoka Financial Group and Mizuho Financial Group fell 1.59%, 0.94% and 0.78%.