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2013.05.2100:19:13UTC+00Japan stocks retreated; exporters, Softbank decline

Japanese stocks pull back in the early Tuesday trading action as a strengthened yen and caution over U.S. financial-policy stance led investors to take profits after a sturdy recent rally. The Nikkei Stock Average drop 0.3% after ending the previous session at its highest level in more than five years, while the broader Topix surrenders 0.1%. The Nikkei is still up more than 10% so far in May. Several exporters came off as the yen firmed up, with Sony Corp. decline 1.4%, Renesas Electronics Corp. off tracked 2.3% and Hino Motors Ltd. down by 1.4%. Softbank Corp. relinquished 1.3% after the Nikkei newspaper reported it's planning to set a record with a 400 billion yen ($3.91 billion) retail bond issuance. On the upside, Toshiba Corp. acquired a 0.6% increase on another Nikkei report it plans to sell a semiconductor assembly plant in China to a Taiwanese firm.

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