LOS ANGELES Japanese stocks edged higher in choppy early Monday trade, with retailers and some financials helping support the market, as the Nikkei Stock Average added 0.1% to 8,851.71 and the Topix advanced 0.2%. Shares of retail major Seven & I Holdings Co. added 1.4% after a Nikkei report saying the company planned to ramp up its shopping-mall openings, while FamilyMart Co. added 2% and J. Front Retailing Co. gained 1%. Among broker and bank stocks, Nomura Holdings Inc. jumped 2.7% after saying Friday it would seek to cut $ 1 billion in costs by March 2014. Rival Daiwa Securities Group Inc. added 1.8%, while Sumitomo Mitsui Financial Group Inc. added 0.7% and Shinsei Bank Ltd. gained 1.1%. On the downside, Sharp Corp. plunged 4.6% after S&P cut the company’s credit rating to speculative or “junk” grade, and as talks continued to secure an investment from Taiwan’s Hon Hai Precision Industry Co. . A stronger yen also weighed on some exporters, with Panasonic Corp. dropping 1.9% and Mazda Motor Corp. losing 3.2%.
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