Tokyo Electron led decliners in the Nikkei 225 index shares with a drop of 4.56% followed by losses in Isuzu Motors of 4.21%, in Mazda Motor Corp. of 3.96%, in Millea Holdings of 3.62%, and in Yokohama Rubber of 3.55%.

Exporters declined as the yen gained against a retreating dollar. Canon shed 1.40% and Komatsu slipped 1.74%.

Fair Trade Commission raids Sharp, Hitachi

Kyodo news reported today that the Free Trade Commission raided Sharp and Hitachi Limited on allegations that that they “colluded to buttress the prices of liquid crystal displays” that are used in Nintendo’s video game handsets.

The two companies are being investigated for violation the Antimonopoly Law.

Sumitomo Mitsui to merge four nonbank firms

The Nikkei news reported today Sumitomo Mitsui Financial Group Inc. will integrate four group nonbank firms- Sumitomo Mitsui Card Co., OMC Card Inc and major consumer credit companies Central Finance Co and Quoq Inc. The industry has consolidated rapidly after the new law lowers the limit on interest rate charged to consumers.