Nikkei Falls to 8-Month Low on Toyota

The Japanese Nikkei index closed at its lowest level in nearly eight months on Friday, led by the decline in shares of automakers and related sectors due to growing concern about the recovery after Toyota cut its global production.

The Nikkei index fell 0.98 percent to close at 27,013.25 points, its lowest since December 28. The broader Topix index fell 0.87 percent to 1,880.68 points.

For the week, the Nikkei fell 3.4 percent, its biggest weekly loss since mid-May.

Toyota Motor said on Thursday it would cut global production for September by 40 percent from its previous plan.

Toyota shares fell 4.09 percent, while Honda Motor Co shares lost 4.84 percent and Nissan Motor shares plunged 7.25 percent. Shares of Toyota subsidiary Denso fell 8.83 percent, while shares of its colleague Aisin lost 5.28 percent.