The Nikkei index rose 0.4% to close at 30,801.13 points. Earlier this week, the index touched 31,352.53, the highest level since August 1990. The broader Topix index fell 0.3% to 2,146.15 points.
Chip test equipment maker Advantest jumped 16.22%, leading the semiconductor sub-index higher after forecasting strong earnings from U.S.-based chipmaker Nvidia Corp.
Rakuten Group Co rose 0.68% after the online retailer priced a new share offering to fund its expansion.
Japanese equities have recently outperformed other major markets, supported by strong corporate results, increased chip investment and optimism about tailwinds from the consumer sector as economic activities in the country return to normal after the pandemic.
Foreign investors bought 867.5 billion yen ($6.42 billion) worth of Japanese stocks in the week ending May 20, the eighth consecutive week of inflows, according to Finance Ministry data. .
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