Nikkei up 0.4 pct, exporters rise on softer yen
(Adds comments and stocks)
TOKYO, April 24 (Reuters) - Japan's Nikkei stock average rose 0.4 percent in a see-saw session on Thursday, led by exporters such as Honda Motor Co Ltd (7267.T) on the yen's slide against the dollar.
The market lacked clear direction, moving between positive and negative territory as investors vacillated ahead of Japanese corporate earnings that get into full swing later in the day.
"Institutional investors are waiting to see corporate outlooks for this business year before building positions, and there is also the Golden Week ahead." said Yoshihiro Ito, managing director at Okasan Asset Management, referring to a series of Japanese national holidays that begin next week.
"Technicals suggest the market's recent gain was too rapid, but at the same time, investors do not have many positions to sell."
The earnings report season kicks off on Thursday, with steelmaker JFE Holdings Inc (5411.T) and Nintendo Co Ltd (7974.OS) among major firms due to announce results later in the day.
The benchmark Nikkei average .N225 ended the morning up 51.71 points at 13,630.87. The broader TOPIX index gained 0.4 percent to 1,319.47.
Honda rose 2.2 percent to 3,250 yen, among the biggest contributor to the Nikkei.
SHIPPERS SAIL HIGHER
Shipping companies rose, with Kawasaki Kisen Kaisha Ltd (9107.T) up 3.6 percent at 1,125 yen after the Baltic Exchange's dry freight index .BADI, an indicator of seaborne trade for dry commodities, climbed 3.7 percent on Wednesday.
Mitsui OSK Lines Ltd (9104.T) gained 3 percent to 1,441 yen and Nippon Yusen KK (9101.T) rose 2 percent to 1,022 yen.
Nippon Sheet Glass Co (5202.T) jumped 6.7 percent to 449 yen, becoming the biggest percentage gainer on the Nikkei, after the maker of glass used in cars and electronics tapped former Pilkington executive Stuart Chambers as its new president and CEO. [ID:nT249420]
Yoshinoya Holdings Co Ltd (9861.T) slid 3.1 percent to 155,000 yen after an Agriculture Ministry official said Japan has suspended imports from a California plant of National Beef Packing Co after it found a box that included a beef part it bans due to the risk of mad cow disease. [ID:nL23158381]
Japanese media said the banned part was found in a storage facility of Yoshinoya's, which is a major beef bowl chain restaurant.
Trade was moderate, with 771 million shares trading hands, compared to last week's morning volume of 770 million.
Decliners and advancers were almost evenly matched, 785 to 728. (Editing by Brent Kininmont)
