Japan stocks gain led by autos on steadier yen

(Adds shares, comments)

By Aiko Hayashi

TOKYO, March 24 (Reuters) - Japanese stocks extended a three-session winning streak on Monday as gains by automakers such as Toyota Motor Co (7203.T: Quote, Profile, Research, Stock Buzz) on a stabilising yen helped offset declines in recent gainers including insurers.

Shares of Nissan Motor Co Ltd (7201.T: Quote, Profile, Research, Stock Buzz) jumped nearly 4 percent after Chief Executive Carlos Ghosn said on Friday that Japan's third-largest automaker expects to beat its global sales target for the year ending March 31. [ID:nKLR7597]

But shares of Nippon Suisan Kaisha (1332.T: Quote, Profile, Research, Stock Buzz) slipped more than 6 percent after Japan's No. 2 fisheries firm roughly halved its operating profit forecast for the year to March 31 to 7 billion yen. [ID:nT198760]

"The yen trading near 100 yen is supporting automakers, but it's still not active buying yet," said Takahiko Murai, general manager of equities at Nozomi Securities.

He said the market generally lacked trading factors as U.S. markets were closed on Friday for Easter, as was most of Europe, which will also stay shut on Monday.

"On top of that, we're approaching the Japanese corporate earnings season, and the market is unlikely to move much until then."

The benchmark Nikkei average .N225 ended the morning session up 0.4 percent, or 46.33 points, at 12,528.90. The Nikkei ended up 1.8 percent on Friday, gaining 2 percent for the holiday-shortened week, but is still off some 11 percent from its recent high hit in February.