The event will probably result in a push

for more spending on quakeproofing, the Nikkei newspaper reported.

Companies with factories in the region that were forced to

halt production may slip. Sanyo Electric Co. evacuated its

facilities, while auto parts maker Riken Corp.'s main factories

were damaged.

``We're still waiting for more details on the results of the

earthquake in the Niigata area, and that's a factor working

against the market today,'' said Hiroichi Nishi, an equities

manager at Nikko Cordial Securities Inc.

``This is a negative for

companies with factories in the area and other groups that are

affected by earthquakes.''

Nikkei 225 Stock Average futures expiring in September last

traded in Chicago at 18,195, down from the close of 18,270 in

Osaka and 18,215 in Singapore. The Bank of New York Japan ADR Index, which tracks the nation's American depositary receipts, lost 0.2 percent.

Japan's market was closed yesterday for a holiday.

Last week, the Nikkei added 0.5 percent to 18,238.95 and the Topix index rose 0.2 percent to 1783.20.

Sumitomo Corp. may lead gains by oil-related companies after the price of crude climbed above $74 a barrel for the first time since August 2006 and the Nikkei reported the company will expand mining operations in South Africa.

Niigata Earthquake

An earthquake centered about 250 kilometers (155 miles)

northwest of Tokyo struck at about 10:15 a.m. local time

yesterday. The quake toppled houses and killed at least eight

people, while another 900 were injured, according to the

Associated Press.

Tokyo Electric, Asia's largest power producer, shut down its

Kashiwazaki-Kariwa nuclear power plant yesterday after radioactive water leaked into the sea following the earthquake, the Nikkei reported. Trade and Industry Minister Akira Amari asked all power companies that operate nuclear reactors to immediately review their measures for extinguishing fires, the newspaper said.

The ground acceleration at the power plant was more than

double the level it was designed to withstand, and that may prompt a debate in Japan about the current effectiveness of quakeproofing techniques, the newspaper said.

U.S.-traded receipts of Millea Holdings Inc., Japan's largest

insurer by market value, fell 0.4 percent from the closing share

price in Tokyo on July 13. Insurance companies may be liable for some of the damages caused by the quake.

Closed Facilities

Sanyo, the world's biggest supplier of mobile phone

batteries, will reopen a semiconductor production site in Niigata today after shutting it yesterday. Riken, which makes piston rings and camshafts for autos, said it will start inspecting its facilities for damages.