Tokyo stocks seen opening lower, but bottom solid

TOKYO (Reuters) - Japan's Nikkei stock average is expected to open lower on Thursday, following a fall in Wall Street, but the downside is seen limited as exporters like Sony Corp (6758.T: Quote, Profile, Research, Stock Buzz) are likely to gain on the softer yen.

One of the stocks likely to grab the market's attention is Seven & I Holdings Co (3382.T: Quote, Profile, Research, Stock Buzz).

The Nikkei business daily reported on Thursday Japan's largest retailer is expected to report a 2 percent rise in its first-half operating profit, falling short of its own forecast of a 4 percent gain due to an increase in IT costs.

Seven & I is scheduled to announce its first-half results next week. Rival Aeon Co Ltd (8267.T: Quote, Profile, Research, Stock Buzz) will announce its first-half earnings after the close of trade.

"The day's session is likely to be a range-bound, showing a solid bottom," said Hiroichi Nishi, general manager of equity marketing at Nikko Cordial Securities.

"While U.S. stocks fell and investors are getting nervous about the market's fast upward move, the dollar is traded at the upper end of 116 yen ($1) and there is a strong expectation for upward forecast revisions by companies," he said.

Market participants said the benchmark Nikkei average .N225 will likely move between 17,000 and 17,250 on Thursday.

Nikkei futures traded in Chicago finished Wednesday at 17,135, 65 down from the Osaka close, pointing to a lower open.

The Nikkei finished Wednesday up 0.9 percent at 17,199.89, the highest level in nine weeks.