TOKYO, Oct 23 (Reuters) - Japan's Nikkei share average

was marginally higher on Wednesday as caution ahead of the

country's upcoming lower house election results dulled

automakers' shine.

The Nikkei was up 0.11% to 38,453.66 as of 0052 GMT.

The yen fell overnight to 151.19 per U.S. dollar,

its lowest since July 31. A softer yen tends to help exporter

shares as it increases the value of overseas profits in yen

terms when firms repatriate them to Japan.

"With a weaker yen, investors could become more positive

about domestic stocks," said Seiichi Suzuki, chief equity market

analyst at the Tokai Tokyo Intelligence Laboratory.

"But they stayed away from making active bets as they

awaited the outcome of the general election. That capped today's

gains and this trend will continue this week."

Prime Minister Shigeru Ishiba dissolved the lower house of

parliament on Oct. 9, setting up the snap election on Oct. 27.

Local media reported that the ruling Liberal Democratic

Party (LDP) and its coalition partner Komeito may lose their

majority in the election.

The broader Topix was up 0.17% to 2,656.02, with

Toyota Motor ( TM ) rising 3.85% to become the biggest boost

to the index. Honda Motor ( HMC ) rose 2.98%.

Automakers added 2.95% to become the best

performer among the Tokyo Stock Exchange's 33 industry

sub-indexes.

Among the Nikkei heavyweights, staffing agency Recruit

Holdings ( RCRRF ) fell 2.75% and Uniqlo-owner Fast Retailing ( FRCOF )

slipped 0.29%.

Home interior goods retailer Nitori Holdings ( NCLTF ), whose

share prices are affected by a weaker yen as it imports most

materials for its products from abroad, fell 1.25%.