Japan stocks flat as GS Yuasa gains, but yen weighs

(Updates to midmorning)

TOKYO, June 18 (Reuters) - Japanese stocks were almost flat on Wednesday as investors flocked to topical stocks such as car battery maker GS Yuasa Corp (6674.T), while some exporters fell on a slightly stronger yen.

Market participants said the market lacks any specific direction and buying into stocks futures helped buoy the overall market.

"Today's peculiar rise seems to be due to derivative-related buying," said Norihiro Fujito, general manager of the investment research and information division at Mitsubishi UFJ Securities.

"But we have to understand the relatively solid gains stand on a very soft ground. They won't keep buying forever."

As of 0053 GMT, the benchmark Nikkei .N225 added 0.2 percent or 21.44 points to 14,369.81.

The broader Topix edged up 0.08 percent to 1,403.29.

The dollar stood at 107.99 yen JPY=, little changed from late U.S. trading on Tuesday, having retreated from a four-month high of 108.59 yen hit on trading platform EBS on Monday.

Japanese car battery makers shot up as investors expected growing concerns over global warming and persistently high oil prices to boost demand for electric cars.

GS Yuasa, Japan's largest car battery maker, climbed 3.8 percent to 549 yen, while Furukawa Battery (6937.T) jumped 8.4 percent to 1,300 yen.

Canon Inc (7751.T) fell 0.9 percent to 5,490 yen and Honda Motor Co Ltd (7267.T) shed 0.5 percent to 3,760 yen.

A stronger yen curbs exporters overseas' profits when they are brought back home. (Reporting by Aiko Hayashi)