Japanese Stocks Fluctuate on Higher Factory Output, Weaker Euro

Japanese stocks fluctuated as higher-than-estimated industrial production in January boosted makers of factory equipment, while concern that the weakening euro will crimp overseas earnings dragged down exporters.

Fanuc Ltd., Japan’s largest maker of industrial robots, climbed 0.6 percent. Isuzu Motors Ltd., Japan’s biggest maker of light-duty trucks, gained 2.8 percent after Citigroup Inc. raised its investment rating. Asahi Glass Co., which receives almost 20 percent of revenue from Europe, declined 1 percent.

The Nikkei 225 Stock Average was little changed at 10,104.79 as of 9:40 a.m. in Tokyo. The broader Topix index was also little changed at 891.48, with about four stocks declining for every three that rose.

The Topix has dropped 1.8 percent this year on speculation that Greece, Spain and Portugal will struggle to curb deficits. Companies in the gauge trade at 31.1 times estimated earnings, compared with 14.1 times for the Standard & Poor’s 500 Index and 12.2 times for the Dow Jones Stoxx 600 in Europe.