After the close, Toyota Motor Corp posted a smaller than expected 5.3 percent rise in third-quarter operating profit. It kept its parent-only operating profit guidance at 730 billion yen ($7.04 billion) for the year, down from last year's 833.79 billion.
The Nikkei average fell 17.79 points to 11,389.35, retreating from Wednesday's two-week closing high.
The broader TOPIX index was down 0.21 percent at 1,149.51.
"Market sentiment is still very solid and buyers are eyeing chances to buy but right now, we just don't see any clear factors," said Teruhisa Ishikawa, a manager in the investment information department at Mizuho Investors Securities.
Trade was active with 1.897 billion shares changing hands on the first section, up from 1.881 billion on Wednesday. The volume was the highest since May 10, except for settlement days of index futures and options, when settlement-related transactions boost trading volume. Gainers slightly outnumbered decliners 736 to 714.
SMFG, Japan's third-biggest banking group, tumbled 2.8 percent to a seven-week closing low of 698,000 yen after a newspaper reported it may revise down its profit forecast due to an additional 200 billion yen ($1.93 billion) in loan-loss charges. The bank denied the report.
UFJ's shares fell 2.5 percent to 593,000 yen.
Auto parts maker NOK sank 5.5 percent to 2,835 yen after it trimmed its annual profit forecast on Wednesday, citing falling prices of flexible printed circuit boards used in mobile phones and digital home appliances.
Nitto Denko Corp, which on Wednesday announced a disappointing revenue outlook, dropped 5.6 percent to 5,410 yen, dragging down rivals such as JSR Corp, which fell 1.6 percent to 2,160 yen.
Nippon Steel Corp, which reports earnings on Friday, was up 2.7 percent at 265 yen. The steel sector index ISTEL.rose 0.86 percent, extending gains into a fourth straight day on an expected rise in steel sheet prices.
Toyota, shrugging off a stronger yen and higher raw materials costs, said October-December consolidated operating profit rose to 422.90 billion yen, but lagged an average Reuters Estimates forecast for 439 billion yen. Executives said they aimed to at least match last year's record group profits.
Prior to the news, Toyota's shares closed unchanged at 4,060 yen.
Elsewhere, Ricoh Co Ltd closed down 0.3 percent at 1,841 yen. The precision equipment maker posted a rise in quarterly profit as strong sales of colour copiers outweighed the cost of downsizing its optical disk business, but cut its operating profit outlook.