Topix Retreats First Time in Eight Days on Yen, Apple Results
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Japanese stocks fell, with the Topix index dropping for the first time in eight days, as a stronger yen dragged exporters lower and suppliers to Apple Inc. declined after the smartphone maker posted weaker-than-expected results.
Japan Display Inc., which counts Apple as its biggest customer, sank 4.1 percent, while smartphone backlights-maker Minebea Co. dropped 3.3 percent. Exporter TDK Corp. declined 2.6 percent after the yen strengthened. Toshiba Corp. fell 1.7 percent amid the fallout from its accounting scandal. Mitsui Chemicals Co. soared 12 percent, the most in four years, after revising its profit outlook higher.