Japanese equities witnessed massive foreign outflows last week, as investors locked in profits at the end of fiscal year after local stocks rose sharply over the previous two weeks.

Overseas investors offloaded Japanese stocks worth 830.23 billion yen($6.71 billion) in the week ended April 1, marking the largest weekly capital outgo since Oct. 1, data from Japanese exchanges showed.

Outsiders sold derivatives worth 1.19 trillion yen but purchased 360.38 billion yen in cash equity markets.

Investors were concerned that supply disruptions and surging raw material costs caused by the Ukraine crisis would hit Japanese business confidence.

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Investors chose to book profits last week after Japanese shares surged more than 10% in just 2-1/2 weeks since hitting a year's low on March 9.

The Topix dropped 1.88% last week, while the Nikkei share average lost 1.72%.

Cross-border investors exited 1.92 trillion yen worth of Japanese bonds in a third straight week of net selling, finance ministry data showed.

On the other hand, Japanese investors sold cross-border bonds worth 1.61 trillion yen and overseas equities of 781.3 billion yen, after two straight weeks of net buying.