Japanese Stocks Decline on Commodities, Sharp Bailout
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Japanese stocks fell, halting a three-day gain, as Sharp Corp. dropped on speculation the electronics maker will seek a bailout after forecasting a record loss and as commodity prices fell.
Sharp lost 6.7 percent. Mitsui Mining & Smelting Co. lost 2.9 percent. Yamada Denki Co. sank 7.5 percent after the electronics retailer cut its earnings forecast. Utilities fell after a regulator delayed a decision on whether to take reactors at a Kansai Electric Power Co. plant offline. Toyota Motor Corp. rose 2.2 percent after South Korea’s Hyundai Motor Co. and Kia Motors Corp. overstated fuel-economy estimates for some of their models.