Nikkei up 1.6 pct as exporters rise on Wall St, yen

(Updates to midday)

TOKYO, April 21 (Reuters) - Japan's Nikkei stock average rose 1.6 percent on Monday, extending its gains for a fifth day, with Honda Motor Co Ltd (7267.T: Quote, Profile, Research, Stock Buzz) jumping nearly 7 percent after a rally on Wall Street and a softening in the yen versus the dollar.

Financials such as Japan's largest bank Mitsubishi UFJ Financial Group (8306.T: Quote, Profile, Research, Stock Buzz) gained on receding pessimism about the credit crisis following Citigroup's (C.N: Quote, Profile, Research, Stock Buzz) earnings report.

Earth-moving equipment maker Komatsu Ltd (6301.T: Quote, Profile, Research, Stock Buzz) soared after bigger rival Caterpillar (CAT.N: Quote, Profile, Research, Stock Buzz) reported stronger-than-expected profits.

The benchmark Nikkei average .N225 ended the morning up 221.24 points at 13,697.69. The broader TOPIX index added 1.8 percent to 1,327.55.