TOKYO, March 14 (Reuters) - Japanese stocks look set to
rebound on Friday, tracking overnight gains on Wall Street, after
a major credit rating agency said the end to subprime-related
write-downs is in sight.

Following steep losses on Thursday, the Tokyo market is
likely to take a breather as the dollar has regained some ground
against the yen after plunging below 100 yen for the first time
in more than a decade.

"While we need to closely watch forex, the Nikkei is likely
to trade around 12,500," said Kazuhiro Takahashi, a general
manager of equity marketing at Daiwa Securities SMBC.

U.S. stocks rose after Standard & Poor's said write-downs for
large financial institutions are likely past the halfway mark,
soothing investors' anxiety about the latest credit market
fallout and increasing the allure of riskier assets.

The benchmark Nikkei average .N225 is expected to move
between 12,400 and 12,600 on Friday. The index slid more than 3
percent to a new 2-½ year closing low on Thursday.

Nikkei futures traded in Chicago 2NKc1 closed at 12,595 on
Thursday, well up from their close in Osaka JNIc1 at 12,350.

Market participants are also waiting to see the settlement
price for index futures and options, which is determined based on
Friday's opening price of each component stock.
----------------------MARKET SNAPSHOT @ 2300 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1315.48 0.51% 6.710
USD/JPY <JPY=> 100.66 0.18% 0.180
10-YR US TSY YLD <US10YT=RR> 3.5261 -- 0.000
SPOT GOLD <XAU=> 993.7 -0.12% -1.200
US CRUDE CLc1 110.02 -0.28% -0.310
DOW JONES .DJI 12145.74 0.29% 35.50
-------------------------------------------------------------
> Wall St ends higher as S&P view eases credit fears [.N]
> Dollar sinks below 100 yen, hits new low vs euro [USD/]
> Bonds fall as housing bailout plan boosts stocks [US/]
> Gold sets record on dollar, futures hit $1,000 [GOL/]
> Crude surges to record $111 as dollar slides [O/R]
STOCKS TO WATCH

-- Toyota Motor Corp (7203.T: Quote, Profile, Research)

Toyota said on Thursday it would trim U.S. production of its
full-size Tundra pickup trucks due to sluggish demand.
[ID:nN13346372]

Separately, Toyota President Katsuaki Watanabe told reporters
in Tokyo he expected steady demand in North America this year
despite a slowing economy, and said the automaker may need to
take steps to counter a surging yen. [ID:nT292248]

-- Sharp Corp (6753.T: Quote, Profile, Research)

Sharp plans to enter the Chinese mobile phone market as early
as June ahead of the summer Beijing Olympics, Sharp President
Mikio Katayama was quoted as saying by the Nikkei business daily
in an interview published on Friday.

-- Asahi Tec Corp (5606.T: Quote, Profile, Research)

Asahi Tec, a maker of malleable iron parts for automobiles,
on Thursday widened its group net loss forecast for the current
business year to March 31 to 11.1 billion yen from 8 billion yen,
citing weakness in the North American auto market.

It also cited a 800 million yen special loss related to its
acquisition of Metaldyne.

-- Sony Corp (6758.T: Quote, Profile, Research)

Dutch media content provider 2waytraffic N.V. TWT.L, which
owns the popular television quiz show "Who Wants To Be A
Millionaire?", said on Thursday it had agreed a 108 pence-a-share
cash offer from Sony Pictures. [ID:nL13601139]

-- Tokyo Broadcasting System Inc (TBS) (9401.T: Quote, Profile, Research), Fuji
Television Network Inc (4676.T: Quote, Profile, Research)

TBS and Fuji Television plan to separately reorganise their
businesses into a holding company structure, a move that will
protect them from takeovers, the Nikkei business daily reported
on Friday.

-- Nichi-Iko Pharmaceutical Co (4541.OS: Quote, Profile, Research)

Nichi-Iko Pharmaceutical will acquire midsize rival Teikoku
Medix Co, a deal that will make it the biggest generic drug maker
in Japan, the Nikkei reported on Friday.

-- Doutor Nichires Holdings Co (3087.T: Quote, Profile, Research)

Doutor Nichires is expected to post a 15 percent rise in
group operating profit to around 11.5 billion yen for the year
through February 2009, helped by price increases implemented at
Doutor Coffee chains, the Nikkei said on Friday.
(Reporting by Taiga Uranaka; Editing by Hugh Lawson)