The benchmark Nikkei 225 index was down 0.05%, or 20.30 points, at 37,608.18 about an hour after the opening bell, while the broader Topix index was down 0.13%, or 3.40 points, at 2,660.13.

“A wait-and-see attitude will likely grow” ahead of the Bank of Japan’s policy decision at around midday local time and governor Kazuo Ueda’s press conference, as well as a long weekend, said Matsui Securities.

Bargain-hunting of individual shares with good corporate earnings will likely continue, it added.

The dollar fetched 155.62 yen in early Asian trade, against 155.64 yen in New York late on Thursday.

The Japanese central bank is set to wind up a two-day policy meeting and governor Ueda will speak to reporters later on Friday.

The BOJ is widely expected to keep its key interest rate, after ditching its negative rate policy in March, its first rate cut since 2007.

Market watchers are closely monitoring Ueda’s comments for his views on the weak yen which is at three-decade lows, and for clues on the timescale of a future rate hike.

The central bank operation is independent from the finance ministry which is in charge of intervention in forex markets but its view is still important to gauge, for example, the impact of the cheap yen on the Japanese economy.

Among major shares in Tokyo, Daiichi Sankyo was up 1.43% at 4,834 yen after the drugmaker announced a share buy-back and increase in dividend payments.

SoftBank Group was up 1.57% at 7,722 yen. Oil retailer Idemitsu Kosan was up 1.27% at 1,035.5 yen. Panasonic rose 0.64% at 1,333.5 yen.

Honda was down 0.95% at 1,729.5 yen after it announced an investment in Canada worth C$15 billion for a new EV battery and vehicle assembly plant.

Its bigger rival Toyota, which announced a new investment of US$1.4 billion in its Indiana plant in the US, was off 0.37% at 3,484 yen. Nissan was down 0.97% at 541.4 yen.