Nikkei 225 Falls 0.33% on Nov 2, 2026 as Kioxia and Screen Slump

Key takeaways

• The Nikkei 225 fell 0.33% (208.25 points) to 63,081.86 at the close (06:30 UTC) on Monday, Nov 2, 2026, according to Jiji Press and Yahoo Finance data.
• The broader TOPIX lost 0.88% (34.79 points) to 3,930.28. Decliners on the Tokyo exchange outnumbered advancers by 2,490 to 1,044, Investing.com reported.
• Memory-chip maker Kioxia Holdings slumped 15.78% to ¥11,345 after a flat October-December forecast, and Screen Holdings dropped 18.96% to ¥9,218 after keeping its full-year guidance unchanged.
• Tokyo Electron (+5.16%), Lasertec (+8.01%) and Advantest (+2.61%) rose, which limited the index loss.
• USD/JPY was at 157.85 at 06:30 UTC, up 0.21% from Friday's 157.52 close. The 10-year JGB yield eased to 2.765%, according to Investing.com.
• Tokyo markets are closed on Tuesday, Nov 3, for Culture Day, which is also the day of the U.S. midterm elections.

Session recap

The Nikkei 225 fell for a second straight session on Monday, Nov 2. Big losses at Kioxia and Screen Holdings outweighed a rebound in other chip-equipment stocks. Our hub page has Asian and global market closes, and Friday's session is covered in the Japan stocks brief for Oct 30. Yahoo Finance data shows the index opened at 62,972.02 and moved between 62,712.91 and 63,615.32 before ending below Friday's 63,290.11 close. The TOPIX fell harder in percentage terms than the price-weighted Nikkei. This kind of gap is explained in our guide to the difference between the Nikkei 225 and TOPIX.

The yield change is in percentage points, and its % change is relative to Friday's 2.776%. The USD/JPY change is measured against Yahoo Finance's previous close of 157.519. In a separate reading, Jiji Press put the dollar at 157.74-76 yen at 5 p.m. Tokyo time (08:00 UTC).

Investing.com listed NGK Corporation (+10.95% to ¥5,118), Lasertec (+8.01% to ¥40,720) and Sapporo Breweries (+7.72% to ¥2,120.50) as the biggest gainers in the Nikkei 225. Screen, Kioxia and Alps Alpine (−10.96% to ¥1,856.50) were the biggest losers. SoftBank Group fell 1.58% to ¥4,410 and Toyota Motor fell 0.62% to ¥3,051, according to Yahoo Finance closes.

What drove it

Kioxia's flat quarterly forecast

Kioxia was the biggest single drag among large chip stocks. FourWeekMBA cited Kioxia's Oct 30 results filing, which put October-December operating profit at about ¥1,995.0 billion, against ¥1,994.7 billion in July-September, and revenue at ¥2,500.0 billion. In other words, the company is guiding for a roughly flat quarter after a period of rapid growth. FourWeekMBA said the company pointed to currency effects and to some data-centre storage shipments slipping into the next quarter. It also reported, citing Business Insider, that Bernstein analysts called the forecast a major miss. TradingKey said the guidance came in weaker than expected and weighed on Japanese chip stocks.

Screen Holdings keeps its guidance

Screen Holdings, a maker of chip-cleaning equipment, reported July-September operating profit of ¥40.1 billion on Oct 30, up 82% year on year. Investing.com reported that this was slightly below the company's own quarterly guidance of ¥41.6 billion. The company kept its full-year forecast for sales of ¥743.0 billion and operating profit of ¥156.5 billion. A separate Investing.com report on Monday said analysts had expected about ¥42 billion for the quarter, that holding the forecast was the main disappointment for investors, and that Goldman Sachs had already cut the stock to Sell.

Selective buying in chip-equipment names

Not every chip stock fell. Tokyo Electron, Lasertec and Advantest all closed higher after falling on Friday, according to Yahoo Finance. Tokyo Electron and Advantest are heavy Nikkei 225 constituents, and their gains help explain why the Nikkei fell less than the TOPIX. Bullquill has not found a single confirmed reason for the rebound in these names.

Wall Street and regional cues

On Friday, Oct 30, the S&P 500 fell 1.82% to 7,580.07 and the Nasdaq Composite fell 2.86% to 25,437.00, according to Yahoo Finance closes. TradingKey said Tokyo and Seoul both opened lower after that U.S. tech weakness. Seoul then recovered, and the KOSPI closed 2.24% higher at 5,859.08 on Nov 2, while SK hynix ended 3.81% higher at 1,472,000 won, according to Yahoo Finance. TradingKey linked Seoul's rebound to an official report of a 259% year-on-year jump in Korea's October semiconductor exports. Our report on SK hynix's record third-quarter profit gives background on the memory cycle.

Yen and bonds

The yen weakened slightly against the dollar during Tokyo hours, and the 10-year JGB yield edged down, according to the Yahoo Finance and Investing.com data in the table. A weaker yen usually supports exporters' earnings in yen terms. Kioxia, however, cited exchange rates as a negative factor in its forecast, according to FourWeekMBA.

Political & policy watch

The U.S. midterm elections take place on Nov 3. TradingKey described caution before the vote as one reason Tokyo and Seoul opened lower. Japan's markets will be shut that day for Culture Day, a national holiday listed by Japan's Cabinet Office, so Tokyo investors will react to the results on Wednesday, Nov 4.

On monetary policy, the Bank of Japan left rates unchanged at its Oct 29-30 meeting, as Invezz noted. The BoJ's own calendar shows its next policy meeting on Dec 17-18. Invezz also flagged U.S.-Iran tensions as a risk for Japanese stocks through higher energy prices. That is the outlet's assessment, not a confirmed policy development.

What to watch next

• Nov 3: Tokyo markets closed (Culture Day); U.S. midterm elections.
• Nov 5: Bank of Japan publishes the minutes of its Sept 17-18 meeting.
• Nov 10: BoJ Summary of Opinions from the Oct 29-30 meeting.
• Dec 17-18: next BoJ Monetary Policy Meeting.
• This week: earnings from Japanese trading houses and other large companies, which Invezz listed for Tuesday through Friday.

Risk checklist for readers

• A single earnings forecast can move heavyweight stocks by double digits, as Kioxia and Screen showed. Results seasons tend to bring more volatility.
• The Nikkei 225 is price-weighted, so a few high-priced shares can swing the index. Compare it with the TOPIX for a broader picture.
• Exchange-rate moves affect exporters' reported profits; check which currency assumption a company uses in its guidance.
• Market holidays such as Culture Day mean overseas events, including election results, are priced in all at once on the next trading day.
• Leveraged products tied to the Nikkei can amplify losses during sharp moves; understand how they work before using them.
• Check figures against primary sources such as JPX, company filings on TDnet and the Bank of Japan, because early reports can differ from final closes.

This article is for information only and is not investment advice.