Japanese Stocks Decline on Yen as Greek Bailout Talks Fall Apart

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Japanese stocks fell as the yen strengthened against the euro after the latest round of talks between Greece and its creditors broke down without a deal on bailout aid.

Nippon Sheet Glass Co. dropped 1.5 percent. Toyota Motor Corp., declined 0.7 percent. DeNA Co., gained 1.6 percent. Nichirei Corp. surged 5.6 percent, the most on the Nikkei 225 Stock Average.

The Topix dropped 0.7 percent to 1,639.64 as of 9:13 a.m. in Tokyo, with all but one of its 33 industry groups declining. The Nikkei 225 lost 0.8 percent to 20,245.17. The yen gained 0.4 percent to 138.46 per euro after negotiations in Brussels between Greece and its creditors fell apart after just 45 minutes on Sunday, shifting the burden of finding a resolution to a meeting of euro-area finance ministers set for June 18.

Source : Bloomberg