2013.07.3107:04:38UTC+00Japan stocks retreat before fed; finalization in focus

Japanese stocks pulled back Wednesday as various utilities and exporters slumped amid a firmer yen and caution ahead of the Federal Reserve's policy decision later in the day, although KDDI Corp. and Softbank Corp. shares climbed after reporting results. The Nikkei Stock Average relinquished 1.1% and the broader Topix slid 0.7%. Shares of Fast Retailing Co. slumped 3.6% and Suzuki Motor Corp. surrendered 3.9%. Profits were in the spotlight, with Softbank Corp. bolstering 3.3% after more than doubling its quarterly earnings, and fellow telecommunication firm KDDI skyrocketed 5.9% after also reporting results. In other earnings-driven moves, Fujitsu Ltd. Traded 2.6% lower, Japan Tobacco Inc. jumped 0.7% and Tokyo Electron Ltd. shed 1.3%. Tokyo Electric Power Co. backslide 3.6% amid concerns over resistance to its planned restart of a nuclear power plant. Toyota Motor Corp. recorded a 1.3% decline amid broader market weakness, despite a Nikkei newspaper report it plans to manufacture more than 10 million vehicles worldwide this year.