Tokyo Tech Stocks Slide as Semiconductor Sector Drops Sharply
Despite steep losses, top names like Kioxia and Advantest remain strong YTD
Japan’s equity market saw a sharp reversal on Friday November 21, 2025, with semiconductor-related stocks leading the decline as global valuation concerns triggered heavy selling. Despite double-digit losses across many major names, several remain among the strongest performers of 2025 — a contrast repeatedly highlighted in recent DividendJapan coverage of OM2 Network, Kioxia, Tokyo Electron, Fujikura, Disco and others.
Key Points
Nikkei 225 closed 2.4% lower at 48,625.88, ending the week down 3.5%.
Broad semiconductor selloff: daily declines of 7–20% across major names.
Many of the worst performers today still show exceptionally strong YTD returns.
Global tech weakness accelerated after U.S. markets reversed sharply overnight.
Japan faces added pressure from a weak yen, rising government bond yields and concerns over fiscal stimulus.
Market Overview
The Nikkei fell sharply on Friday as tech stocks sold off in response to a global reversal in risk sentiment. Overnight, Wall Street erased early gains after enthusiasm around Nvidia’s record earnings faded and valuation worries resurfaced, prompting the Nasdaq’s largest intraday swing since April.
Japan tracked the decline, with added pressure from domestic macro headwinds. The yen hovered near a 10-month low, long-term JGB yields were close to record highs, and the government prepared to announce a stimulus package exceeding ¥20 trillion, raising concerns about fiscal sustainability.
Largest Decliners — November 21, 2025
Even with today’s deep declines, many of these names remain top performers year-to-date:
TSE: 7614 – OM2 Network Co Ltd: −20.2% to ¥1,516, yield 1.8%, +33.6% YTD
(Featured earlier on DividendJapan for its strong rally.)TSE: 6857 – Advantest Corp: −12.1% to ¥18,315, yield 0.2%, +127.6% YTD
TSE: 285A – Kioxia Holdings Corp: −11.5% to ¥10,030, yield 0.0%, +591.2% YTD
(One of Japan’s hottest stocks in 2025; frequently covered on DividendJapan.)TSE: 9984 – SoftBank Group Corp: −10.9% to ¥17,090, yield 0.2%, +109.6% YTD
TSE: 5803 – Fujikura Ltd: −8.3% to ¥17,325, yield 0.9%, +193.7% YTD
(Recently profiled for its turnaround performance.)TSE: 6323 – Rorze Corp: −7.8% to ¥1,924, yield 0.8%, +37.7% YTD
TSE: 6525 – Kokusai Electric Corp: −7.3% to ¥3,915, yield 0.9%, +99.0% YTD
TSE: 8035 – Tokyo Electron Ltd: −7.1% to ¥30,180, yield 1.8%, +37.8% YTD
(A recurring name in DividendJapan semiconductor coverage.)TSE: 6146 – Disco Corp: −7.1% to ¥43,930, yield 0.9%, +11.9% YTD
Macro Drivers Behind the Selloff
Several overlapping factors contributed to the sharp decline:
Renewed valuation concerns in the global AI/tech sector despite Nvidia’s record quarter.
The yen’s rapid depreciation, prompting fears of market intervention.
Rising Japanese government bond yields, adding pressure to equity valuations.
A massive new fiscal stimulus package, raising questions about the national balance sheet.
U.S. macro data — including jobs figures — failing to clarify the interest-rate outlook.
Lower liquidity heading into Japan’s holiday period, making markets more sensitive to global swings.
Conclusion
Friday marked one of Tokyo’s most volatile sessions of the autumn, driven largely by external valuation shocks and domestic macro concerns. Yet the broader picture tells a different story: several of today’s biggest losers remain among Japan’s best-performing stocks of 2025, especially Kioxia, Fujikura, Advantest and Tokyo Electron — a theme consistent with recent coverage on DividendJapan.com.
Investing in Japan: Everything you need to know
Japan remains one of the most fascinating equity markets in the world. It is home to global household names in automobiles, consumer goods, and retail, but also to thousands of under-the-radar small caps and a fast-growing set of technology firms. For international investors, Japanese stocks offer a unique mix of tradition and modernization: unusual mar…
At DividendJapan.com, we aim to highlight these opportunities and uncover hidden gems that may not yet be on your radar. Stay tuned as we explore Japan’s dividend growth stories and the next generation of market leaders!
Disclaimer: The information provided here is for informational purposes only and should not be considered financial advice. Investors should conduct their own research or consult with a financial advisor before making any investment decisions.