Market Updates
Japan's Indexes Extended Losses Amid Broad Sell-Off Driven by Resurgent Inflation Worries
Akira Ito
13 Mar, 2026
Tokyo
Stocks in Tokyo declined on Friday as tensions in the Middle East escalated amid hardening positions by the leaders of Iran and the U.S.
The Nikkei 225 Stock Average decreased 1.3%, the broader Topix declined 0.7%, and the yen weakened to a multi-month low of 159.75 against the U.S. dollar.
About 80% of oil and gas shipments through the Strait of Hormuz arrive at ports in Asia, and a prolonged disturbance in the shipments is likely to drive food and fuel prices higher in the region.
Retail petrol prices in South Korea, Japan, and India have already surged between 30% and 50% over the last three weeks, driven by the worries that shipments from the Middle East producers may be curtailed for weeks, if not months.
In addition, a weaker yen is likely to amplify imported inflation as oil prices rise, potentially nudging the central bank to normalize interest rates at an accelerated pace.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 1.3% to HK$53,753.12, and the broader Topix Index fell 0.7% to 3,625.91.
For the week, two benchmark indexes advanced more than 3%, despite the elevated tensions in the Middle East and worries of a resurgent inflation.
Technology and consumer stocks led the downturn on Friday.
Kioxia Holdings decreased 0.9%, Advantest Corp. fell 3.4%, Tokyo Electron declined 3.6%, and SoftBank Group eased 4.5%.
Fast Retailing decreased 0.5%, Seven and I Holdings rose 0.6%, and Eneos Holdings advanced 0.5%.
Marubeni Corp. advanced 4%, Itochu Corp. gained an additional 0.6%, and Mitsubishi Corp. increased 1.8%.
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