February 22, 2018 / 2:51 AM / a month ago

Nikkei falls to near 1-week low; Ricoh tumbles

TOKYO, Feb 22 (Reuters) - Japan’s Nikkei share average fell to a near 1-week low on Thursday morning on across-the-board selling after U.S. shares dropped overnight, while office equipment maker Ricoh stumbled after a media report said it was considering an impairment charge.

The Nikkei declined 1.2 percent to 21,700.15 in midmorning trade, after dropping as low as 21,626.85, the lowest since Feb. 16.

Ricoh Co tumbled more than 5 percent shortly after the market opened, following the report which said it was considering taking a charge of up to 100 billion yen ($930 million) this fiscal year.

Ricoh said in a statement it was unclear if it would book an impairment loss or what the amount would be pending the test results. The company said it was conducting “impairment tests”.

Shippers underperformed, with Kawasaki Kisen falling 2.3 percent and Nippon Yusen dropping 1.3 percent.

On Wednesday, the European Commission handed out 546 million euros ($673.49 million) in fines to car shipping groups and car parts suppliers , including the two shippers, for anti-competitive behaviour.

The broader Topix declined 1.0 percent, with all of its 33 subsectors in negative territory. (Editing by Richard Borsuk)

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