Japan Stocks Fall on Euro Concern, Pare Declines on BOJ

Japanese shares fell on concern a bailout plan for Cyprus will set a precedent for losses on bank deposits in other European nations. Exporters pared declines after the yen weakened as the Bank of Japan governor outlined monetary easing steps.

Konica Minolta Holdings Inc., a lensmaker that gets 28 percent of sales from Europe, fell 6 percent to lead losses on the Nikkei 225 Stock Average. Toyota Motor Corp., the world’s biggest carmaker, slid 0.2 percent after falling as much as 1.6 percent. Softbank Corp., Japan’s third-biggest mobile operator, rose 2.8 percent after saying it will raise a stake in games developer Gungho Online Entertainment Inc. NEC Corp. jumped 4.1 percent after Reuters reported the maker of telecommunications gear will sell its stake in unit NEC Mobiling Ltd.