Japan shares fell, joining a global retreat, after Greece became the first country to defer a payment to the International Monetary Fund since the 1980s as its game of brinkmanship with creditors goes down to the wire.
Nissha Printing Co., a touch-panel maker that relies on Europe for more than half of its sales, dropped 2.6 percent. Toyota Motor Corp. fell 0.7 percent, the second-biggest drag on the Topix index, after a report it may struggle to reach 2015 sales targets. Takata Corp. lost 1.3 percent after automotive recalls tied to the company’s faulty air bags widened and a person familiar with the matter said some of the replacements bags were defective. Railway operators gained after Jefferies Group LLC began coverage of the group with a mostly positive outlook.
The Topix retreated 0.4 percent to 1,667.06 at the close in Tokyo, dropping 0.4 percent this week for its first weekly loss in a month. The Nikkei 225 Stock Average declined 0.1 percent to 20,460.90. The MSCI World Index fell to its lowest level in a month after Greek Prime Minister Alex Tsipras rejected demands to continue harsh fiscal reforms in exchange for bailout funds.
Greece on Thursday told the IMF it would delay a debt payment of about $ 339 million due Friday, submitting a request to the fund to bundle payments totaling about $ 1.7 billion due this month into one lump-sum payment.
Source : Bloomberg