TOKYO, March 19 (Reuters) - Japan's Nikkei share average

rose on Wednesday, with automaker shares helped by a weaker yen,

while investors awaited a policy decision from the Bank of Japan

later in the day.

The Nikkei was up 0.6% to 38,063.98 as of 0142 GMT,

after rising to as high as 38,097.95 earlier in the session. It

topped the psychologically significant 38,000 mark on Tuesday as

well, but failed to close above that level.

The broader Topix gained 0.9%.

The yen ticked lower to stand at 149.59 per dollar

, continuing its retreat from a more than five-month

high of 146.545 reached last week.

Transport equipment was among the top performing

indexes among the Tokyo Stock Exchange's 33 industry groupings,

appreciating 2.1%. A weaker currency boosts the value of

overseas sales in yen terms.

Wholesale climbed 2.4% to be the best performer,

continuing this week's rally after Warren Buffett's Berkshire

Hathaway ( BRK/A ) raised its holdings in several Japanese

trading houses.

However, gains were limited ahead of interest rate decisions

from the BOJ and U.S. Federal Reserve later on Wednesday,

although both are expected to leave policy unchanged.

The focus will be on guidance from the accompanying

statements and press conferences, particularly with regards to

the impact of U.S. President Donald Trump's aggressive and

erratic tariff campaign, which has triggered a global trade war.

"Concerns about a worsening of the U.S. economy under

Trump's tariffs is deeply rooted, and it will take a toning down

on trade policy for the market's mood to improve," said Kazuo

Kamitani, a strategist at Nomura Securities.

The BOJ doesn't release its statement at a set time, but it

generally comes some time after 0230 GMT, when Japanese markets

close for an hour for the midday recess.

Japanese markets are closed on Thursday for a national

holiday, meaning any chance to react to the Fed meeting will be

delayed by one day.

(Reporting by Kevin Buckland; Editing by Varun H K)