Sumitomo Trust & Banking and other financial stocks fell on speculation that the central bank is not likely to raise the benchmark rate this year. Mizuho Financial Group shed 5%, Resona Holdings fell 4% and Mitsubishi UFJ Financial Group tumbled 3.76%.

Seiko Epson profit declines

Seiko Epson reported that annual profit for the year ended March 31st fell to 19 billion yen as net sales fell 4.8% to 1.3 trillion yen from 1.4 trillion a year earlier.

During the year sales in the inkjet printer market was largely flat as growth in the Asia and Europe offset slowing growth in Japan and the U.S.