Nikkei falls after six-day rally, Toyota down

TOKYO, July 6 (Reuters) Japan's Nikkei average slipped 0.49 percent in slow trade on Friday as investors took profits in Toyota Motor Corp. and other recent gainers following a six-day winning streak.

Fast Retailing Co. edged up 0.4 percent after the clothing retailer launched an unsolicited bid to acquire Barneys New York Inc. for 0 million, topping an existing deal for the upscale clothing chain.

With many market participants holding back because of the weekend and corporate earnings results in the coming weeks, it was easy for investors to take profits in recent gainers, said Katsuhiko Kodama, a senior strategist at Toyo Securities.

''With volume this low it will be hard for the index to push above 18,300,'' Kodama said.

''Investors are waiting for earnings results ... so it is a little too early to bet on which way the market it will go.'' The benchmark Nikkei was down 89.22 points at 18,131.26, poised to end lower for the first time in seven sessions. The broader TOPIX index lost 0.6 percent to 1,777.79.

Shares of Toyota, the world's largest auto maker, fell 1 percent to 7,760 yen after gaining 2.9 percent in the previous five sessions.

Shares of Aderans Co. Ltd., a wig maker, fell 3.2 percent to 2,455 yen after it posted a 68 percent fall in group operating profit for the March-May quarter amid sluggish sales of hairpieces for men and tough competition with hair growth service firm Reve 21.

''Although our forecasts have been lowered for men's products, as sales of hairpieces have declined sharply, the outlook for women's products is very promising,'' Deutsche Securities analyst Masaaki Kitani wrote in a note to clients.

REUTERS DKS RAI0711