Japan stocks slip as investors lock in profits

(Updates to midday)

TOKYO, May 1 (Reuters) - Japan's Nikkei stock average fell 0.7 percent on Thursday as investors locked in profits after the Federal Reserve left unclear the outlook for further rate cuts, with banks such as Mizuho Financial Group (8411.T: Quote, Profile, Research, Stock Buzz) slipping after several days of strong gains.

The market zeroed in on earnings, sending firms like Komatsu Ltd (6301.T: Quote, Profile, Research, Stock Buzz) up after the world's No.2 maker of earth-moving equipment on Wednesday booked a 4 percent gain in quarterly profit and forecast 5 percent growth this year on strong demand for construction in China. [ID:nT1793]

The benchmark Nikkei .N225 shed 93.14 points to 13,756.85 on an investor sense that 14,000 -- which it hit on Monday for the first time since February -- was a solid ceiling for now.

The broader Topix was down 0.9 percent at 1,346.45.