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REFILE-Nikkei slips to 2-week low on weak earnings, 5G star Anritsu plunges


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(Refiles to add dropped letter in headline)

* Investors square positions ahead of 10-day holiday

* Anritsu plunges 15 pct, Nintendo, Zozo down on earnings

By Hideyuki Sano

TOKYO, April 26 (Reuters) - Japan's Nikkei share averagefell on Friday following disappointing earnings from high-techfirms and as market players wind down for the 10-day holiday tocelebrate the enthronement of Crown Prince Naruhito.

By late morning, the Nikkei .N225 was down 0.7 percent at22,149 points, fulling further away from a 4-1/2-month high hitearlier this week, while the broader Topix .TOPX dropped 0.8percent to 1607.78.

Anritsu6754.T , one of the best performing shares in thepast two years on hopes of 5G-related demand, tumbled 15 percentafter its cautious earnings guidance disappointed investors.

The firm saw a 16 percent fall in net profits in the year toMarch to 7.5 billion yen ($67.17 million), about 8 percent belowmean analysts forecast. Anritsu shares prices had hit 19-yearhighs last month, having tripled in over two years.

The poor results hit other shares that have benefited from5G theme.

Advantest6857.T , which forecast a 54 percent fall inoperating profits this financial year from record profits in theprevious year, fell as much as 10.5 percent.

Weak guidance from U.S. chipmakers IntelINTC.O and XilinxXLNX.O dented growing optimism that the worst is over for thesector, which has been hit by concerns over Sino-U.S. tradewars. urn:newsml:reuters.com:*:nL3N2274Z5urn:newsml:reuters.com:*:nL3N227349

"Judging from our hearings, the Chinese economy, includingthe semi-conductor sector, does appear to have bottomed out inJanuary and February. But people are not sure how strong arecovery it will be," said Tetsuro Ii, president of CommonsAsset Management.

"Whether it will be a V-shaped recovery, or U-shaped orL-shaped, nobody really has a clear idea," he said.

Nintendo7974.T fell as much as 5 percent after the gamingcompany offered conservative earnings guidance and urged cautionon the roll-out of its Switch console in China.

Zozo3092.T fell as much as 10 percent after rising 4percent in a volatile trade as the market digested its latestearnings. The online fashion retailer said it expects profits torecover in the current fiscal year after booking its first-everannual drop in earnings. urn:newsml:reuters.com:*:nL3N2271OJ

"We have to see whether the company can achieve theguidance. The market is not convinced as fashion brands areleaving the site. Its revenue in January-March grew just 4percent, a very low figure for Zozo, which had maintaineddouble-digit growth for years," said Hiroshi Masushima, marketanalyst at Monex Securities.

Shares of brokerage firms also slumped after weak earnings,with Daiwa8601.T falling 1.7 percent to near three-year lows,and Nomura 8604.T shedding 1.0 percent.

All but two of the Tokyo Stock Exchange's 33 industrysub-indexes fell.

Many players were squaring positions ahead of the longholiday from April 27 through May 6, the longest market closurein modern history, not wanting to be hit by sudden moves inglobal markets during this period.

One of few bright spots was Hino Motors7205.T , which roseas much as 10.6 percent after the truck maker announced profitgrowth in the financial year that ended in March and the currentyear.

Kyocera6971.T rose as much as 5.9 percent to 15-monthhighs after the company gave upbeat guidance and raised itsdividend payout ratio by 10 percentage point to 50 percent. ($1 = 111.6600 yen) (Editing by Kim Coghill) ((hideyuki.sano@thomsonreuters.com; +81 3 6441 1827; ReutersMessaging: hideyuki.sano.thomsonreuters.com@reuters.net))






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