Most Japanese stocks decline amid mixed earnings

Most Japanese stocks fell on Thursday as investors balked after recent gains and assessed a mixed set of corporate earnings ahead of a high-level meeting of the Group of Seven.

Mazda Motor fell 2.69% after the automaker cut sales and profit forecasts due to production restrictions. While Sumitomo Mining shares tumbled 11.73 percent after expecting profits much lower than analysts’ estimates, amid uncertainty surrounding the Chinese economy and metal prices.

Fujifilm shares rose 5.88 percent after results exceeded market expectations. Ineos led energy stocks as oil prices rose, and then extended its gains after announcing its intention to list its minerals unit.

The Nikkei index was stable at the end of Thursday’s trading, rising 0.02 percent to close at 29,126.72 points. 137 stocks fell on the index, compared to a rise of 85, and three remained unchanged.

The broader Topix index fell 0.14 percent to 2,083.09 points.