Nikkei May Hover Before US Data, Yen Rise A Worry

The benchmark Nikkei is likely to move from 8,800 to 9,100, though moves much above 9,000 are likely to be met with profit-taking.

Japan's Nikkei share average is likely to move narrowly on Friday ahead of key U.S. payrolls
data, with Toyota Motor Corp and other exporters weak after the yen rose on heightened fears about the global economy.

Among domestic stocks, electronic components maker TDK Corp said on Thursday that it expects to plunge to a 28 billion yen ($307.3 million) net loss this business year, its biggest loss ever, due to weak orders and the stronger yen, and that it would cut more than 8,000 jobs overseas.

The dollar was fetching some 91.16 yen in early Asian trade after falling ahead of a government report expected to show the U.S. economy lost more than half a million jobs in December for the second month in a row.

"People are nervous ahead of the jobs data, so there's no real sense that investors will be interested in buying," said Yutaka Miura, a senior technical analyst at Shinko Securities.

"Yet bad numbers are factored in to an extent, so falls may be limited."

Exporters are set to be in focus as attention centres on currency movements, though Miura said that slides in many exporter shares on Thursday may limit their falls.

The benchmark Nikkei is likely to move from 8,800 to 9,100, though moves much above 9,000 are likely to be met with profit-taking. The Nikkei closed at 8,876 on Thursday.

Nikkei futures traded in Chicago closed at 9,040, compared with the Osaka close of 8,870. > Wall St up on expected foreclosure deal; Dow off > Dollar slumps ahead of key U.S. payrolls report > Bonds rise ahead of dreaded December jobs data > Gold ends higher, option trade seen bullish > Oil drops nearly $1 on economic gloom STOCKS TO WATCH

-- TDK Corp

Japanese electronic components maker TDK said on Thursday it now expects to plunge into a 28 billion yen net loss this business year, its biggest annual loss ever, due to weak orders and a stronger yen.

-- Sumitomo Mitsui Financial Group

Sumitomo Mitsui Financial Group, Japan's third-largest bank, said it will raise an additional 160.7 billion yen by issuing preferred securities, bringing its total to just under 700 billion yen.

-- Seven & I Holdings Co Ltd

Seven & I, Japan's largest retailer, reported on Thursday a 7.9 percent rise in operating profit for the quarter ended in November and kept its forecast for the year, as its convenience stores attracted thrifty consumers amid an economic slump.

-- Nippon Steel Corp

Nippon Steel, the world's second-biggest steelmaker, said on Thursday it would book 57.9 billion yen ($620 million) in valuation losses on its securities holdings for the nine months ended on Dec. 31.

-- Mediceo Paltac Holdings, Alfresa Holdings

Drug wholesalers Mediceo Paltac and Alfresa have decided to scrap their planned merger after Japan's antimonopoly watchdog demanded they sell off some of their assets, the Nikkei business daily reported on Friday.

Mediceo Paltac, Japan's top drug wholesaler, and No. 2 Alfresa Holdings had announced in October that they planned to merge to better cope with falling prices and tough competition.

-- Nissan Motor Co Ltd

Nissan said on Thursday that it is cutting 1,200 jobs at its Sunderland plant, northeast England, in response to a dramatic decline in demand that has seen sales fall more than 20 percent in recent months. -- Toyota Motor Corp

Toyota plans to promote Akio Toyoda to president, marking the first time in 14 years that a member of the company's founding family will lead the automaker, the Nikkei business daily reported on Friday.

-- Sony Corp

Sony introduced on Thursday a bendable video screen, a Wi-Fi camera and eyeglasses that display movies, saying the industry must keep innovating in the midst of a severe economic slump.