Tokyo shares close 0.15% lower

October 12, 2012 - 9:32:49 am
TOKYO: Tokyo shares closed 0.15 percent lower on Friday, hit by sharp falls in mobile carrier Softbank and clothing company Fast Retailing.
 
The benchmark Nikkei 225 index at the Tokyo Stock Exchange closed slightly down 0.15 percent, or 12.66 points, to 8,534.12, but the Topix index of all first-section issues was up 0.61 percent or 4.37 points at 718.32.
 
Shares in Softbank plunged nearly 17 percent after a report that the mobile company is eyeing a multi-billion-billion buy-in to the US telecom market, including what could become one of Japan's biggest-ever overseas acquisitions.
 
Softbank closed at 2,395 yen, down 16.86 percent, after the Nikkei economic daily said it was in takeover talks with US wireless carrier Sprint Nextel, with plans to also purchase a smaller firm.
 
The Nikkei said total costs would likely exceed 2 trillion yen ($25 billion).
 
Fast Retailing, the operator of Uniqlo clothing stores, fell 9.93 percent to 16,040 yen after its earnings report fell short of expectations. (AFP)
 
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