The uncertainty over U.S. corporate earnings is casting a shadow over global financial markets, and the Tokyo market cannot be an exception.

There’s been great amount of potential unwinding of cross-held shares. The selling isn’t due to a change in expectations.

Signs that the U.S. stock scene is improving really helps lift spirits at home.

The dollar’s average break-even level for Japanese manufacturers is estimated at 115.32 yen for the current business year. So if the dollar slips to around 115 yen, that should be pretty negative to Japan’s corporate...

The market has been somewhat aware of oil and the dollar/yen as potential risks for Japanese shares.

The G7 statement clarified Japan’s problems — the out-of-dated tax system (which deters the flow of capital into the stock market) and lack of support from monetary policy to encourage banks to write off their...