* Japan stocks expected to take cues from dollar-yen after
Yellen - analyst
* Nikon stumbles on wider loss forecast
By Ayai Tomisawa
TOKYO, Feb 14 Japanese stocks edged down on
Tuesday morning, with Toshiba Corp's falling as
investors brace for the industrial conglomerate to book a
massive multibillion dollar writedown when it reports earnings
Many investors were also sidelined ahead of Federal Reserve
Chair Janet Yellen's semi-annual testimony on policy later in
the global day
The Nikkei share average was down 0.1 percent at
19,429.84 in midmorning trade, pulling back from more than
one-month highs scaled on the previous day.
Toshiba shares slumped 2.0 percent as investors wait on its
earnings at 0300 GMT when the company is set to uncover the
scale of a multi-billion dollar writedown from cost overruns at
its U.S. nuclear arm, along with a recovery plans as it
scrambles for cash.
Exporters were mixed, with Toyota Motor Corp
shedding 0.3 percent, Honda Motor Co falling 0.3
percent, and Panasonic Corp rising 0.3 percent.
Yellen is due to present the U.S. central bank's semi-annual
report on monetary policy and the economy in testimony to the
Senate Banking Committee later in the day, followed by a the
semi-annual monetary testimony before the House Financial
Committee on Wednesday.
With the Fed's policy path still a key catalyst for global
asset markets, Yellen's comments will be closely watched for any
further clarity on rate increases over the rest of this year.
Yoshinori Shigemi, global market strategist at JPMorgan
Asset Management, said Japanese stocks will likely take cues
from the dollar-yen moves, which may be influenced by Yellen's
"Since the Nikkei has recovered from its recent lows,
investors started to be cautious about its valuations," Shigemi
On Tuesday, the dollar was slightly lower at 113.69 yen
, below Monday's high of 114.17 but well above a 10-week
low of 111.59 yen touched a week ago.
Nikon Corp dived 13 percent after the company
warned of a net loss of 9 billion yen for the year ending March,
wider than a loss of 6 billion yen it had expected earlier.
CLSA cut its rating to "sell" from "underperform", saying
that it is making progress in restructuring but for a second
straight quarter, it cut its guidance for the full year as it
has lower expectations for the imaging and instrument segments.
The broader Topix dropped 0.2 percent to 1,441.86
and the JPX-Nikkei Index 400 fell 0.2 percent to
(Editing by Shri Navaratnam)