TOKYO, March 29 (Reuters) - Japanese shares rose on Wednesday, as investors snapped up stocks set to go ex-dividend this week and market heavyweight SoftBank Group jumped on Alibaba Group's split-up plans.
By 0146 GMT, the Nikkei index had risen 0.4% to 27,638.92, while the broader Topix was up 0.53% at 1,977.17.
"Japanese stocks rose because of demand for shares with higher dividend payouts, while gains in SoftBank Group gave further strength," said Shigetoshi Kamada, general manager at the research department at Tachibana Securities.
SoftBank Group jumped 5.61%, lifting the Nikkei the most, after Alibaba Group announced plans to split into six units and explore fundraisings or listings for most of them. Technology investor SoftBank has a stake in Alibaba Group.
Uniqlo brand owner Fast Retailing gained 0.84% and air-conditioning maker Daikin Industries rose 1.24%.
Oil explorers were the top gainers among the Tokyo Stock Exchange's 33 industry sub-indexes.
Fujitec surged 6.99% after its new board voted to oust chairman Takakazu Uchiyama, in another win for activist shareholder Oasis Management, a Hong Kong-based hedge fund which has a 17% stake in the elevator maker.
Chip-related heavyweights tracked overnight losses in U.S. technology shares. Apple and Microsoft were the biggest drags on the S&P 500.
Chip-making equipment maker Tokyo Electron fell 1.34%, weighing on the Nikkei the most. Chip-testing equipment maker Advantest lost 0.76%.
Drugmaker Daiichi Sankyo was among the heavyweights that fell, with a 1.29% drop.
Of the Nikkei components, 164 rose, 55 declined and six traded flat. (Reporting by Junko Fujita; Editing by Subhranshu Sahu)
