Nikkei down 0.29 pct as investors take profits

(Updates to midsession)

TOKYO, Feb 16 (Reuters) - The Nikkei average .N225 fell 0.29 percent on Friday, retreating from a five-session rising streak, as investors locked in profits in recent gainers such as Mitsubishi Estate Co. Ltd. (8802.T) and on worries about a stronger yen.

Shares of Sapporo Holdings (2501.T) were swamped with buy orders after activist hedge fund Steel Partners said it was considering a tender offer for the beer maker.

The Nikkei .N225 closed down 52.25 points at 17,844.98. The benchmark booked its highest close since early May 2000 on Thursday at 17,897.23, just 0.6 percent below the psychologically important 18,000 mark.

The broader TOPIX index fell 0.37 percent to 1,770.09. The index rose 0.65 percent to 1,776.71 in the previous session, its highest close since April 2006.