The Nikkei index fell by 0.8% due to drag from automobile and pharmaceutical stocks.

The Japanese stock market fell in early trading, as the rebound of the yen raised concerns about corporate profitability. The Nikkei index fell by 0.8% to 52,893.59 points. Automakers and pharmaceutical companies led the declines, with Toyota falling by 2.7% and Daiichi Sankyo by 4.8%. The US dollar against the yen was at 152.53 yen, a significant drop from 154.57 yen at the close of the Tokyo stock market on Tuesday. Investors are closely watching statements from Japanese government officials regarding the yen. With the upcoming election in February, Prime Minister Naoto Kan's economic plan is also drawing attention.