(Updates with closing prices)

By Kevin Buckland

TOKYO, May 14 (Reuters) - Japan's Nikkei share average

ticked higher on Tuesday in largely directionless trade, as

investors braced for the finale of the local earnings season and

the release of closely watched U.S. inflation figures the

following day.

The Nikkei finished the day up 0.46% at 38,356.06,

with 125 of its 225 components rising versus 100 that fell,

following a relatively calm session. The broader Topix

rose 0.25%.

Earnings produced some stand-out winners and losers,

including heavyweight startup investor SoftBank Group,

which rallied 4.34% to make it the Nikkei's biggest support.

Furukawa Electric ( FUWAF ) surged almost 19% to pace

advancers, while refiner ENEOS Holdings ( JXHGF ) jumped more

than 10% after reporting results during the afternoon session.

At the other end, construction company Kajima ( KAJMF ) and

chemical company Tosoh Corp ( TOSCF ) were the two leading

decliners, each sliding close to 9%.

Some 600 companies report over the course of Tuesday, and

about the same number report Wednesday, when the current

earnings season largely comes to a close.

"There are a lot of individual drivers, but unfortunately

none that give an overall direction to the market," Kazuo

Kamitani, an equities strategist at Nomura Securities said.

Without additional catalysts, the Nikkei will fluctuate

narrowly between the five- and 25-day moving averages at around

38,170 and 38,450 respectively, Kamitani projected.

Daiwa Securities ( DSECF ) was another notable loser on

Tuesday, dropping 6.82% on news that it would invest 51.9

billion yen ($331.78 million) in Aozora Bank ( AOZOF ), making it

the biggest shareholder. Aozora Bank ( AOZOF ) shares eased 0.91%.

Drugmaker Shionogi fell more than 4% after saying

its COVID treatment pill failed in a trial to show a

statistically significant reduction in symptoms.

Peer Chugai Pharmaceutical ( CHGCF ) lost 3.38% following a

successful trial of a rival haemophilia treatment from Novo

Nordisk.

($1 = 156.4300 yen)

(Reporting by Kevin Buckland; Editing by Subhranshu Sahu and

Mrigank Dhaniwala)