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Nikkei dips in thin trade, Nikko and Matsushita up

 [IST]
TOKYO, Dec 25 (Reuters) The Nikkei share average slipped 0.07 percent on Monday, snapping a three-session winning streak as investors locked in profits on recent gainers such as Fanuc Ltd. amid Christmas holidays in overseas markets.

But losses were limited as some exporters including Honda Motor Co. Ltd. rose as the yen's slip to a two-month low against the dollar strengthened optimism about their earnings.

Nikko Cordial Corp. rose after the company said on Monday that President Junichi Arimura and Chairman Masashi Kaneko would resign on Dec. 26 after regulators found it improperly booked 6 million in profits.

Shares of Matsushita Electric Industrial Co. Ltd., Victor Co.

of Japan Ltd. and Kenwood Corp. climbed following news that Matsushita may sell its stake in money-losing Victor to Kenwood.

The Nikkei was down 12.07 points at 17,092.89, after adding 1.13 percent on the week to Dec. 22.

The broader TOPIX index was down 0.43 percent at 1,664.87.

REUTERS SBA GC1140
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