(Corrects figure in paragraph 1 to 0.15 percent instead of 1.5 percent)
By Antoni Slodkowski
TOKYO, March 31 (Reuters) - Japan's Nikkei average rose 0.15 percent on Thursday, adding to solid gains the previous day, as strong U.S. data bolstered the global outlook and a weaker yen boosted exporters.
Shares of Tokyo Electric Power Co , the owner of the quake-stricken nuclear plant, jumped 12 percent, lifting stocks related to the energy giant such as shareholders Dai-ichi Life Insurance and Sumitomo Mitsui Financial Group more than 1 percent each.
Investors scooped up underweight shares of megabanks, which have been among the biggest underperformers since Japan's March 11 quake disaster.
Foreign investors sold 13.3 billion yen of Japanese stocks last week after record net buying of 893.2 billion yen the week before. They sold 1.12 trillion yen of treasury bills and other short-term instruments, their biggest selling since the final week of last year as the yen weakened after G7 intervention.
"The Nikkei is taking heart from stronger global markets and investors are buying export-related shares as the weaker yen is also giving them a big boost," said Yumi Nishimura, a senior market analyst at Daiwa Securities Capital Markets.
"Long term investors are doing a lot to get rid of TEPCO shares and today's rise in the company may be only temporary, as the situation of the Fukushima power plant is still dire and the possibility of the firm's nationalisation high."
The main Wall Street indices rose as investors bought shares of stronger-performing companies ahead of the quarter end with the mood bolstered as the U.S. labour market showed signs of strength. [ID:nN30275708]
The dollar rose to around 83.19 yen on Wednesday, a level last seen on March 11, when it initially fell after Japan's earthquake. It traded at around 83.10 yen on Thursday.
"Today is the last day of the financial year, so we may see a bit more window dressing driving stocks higher," said Hiroichi Nishi, general manager at Nikko Cordial Securities.
Japanese shares have shed 7 percent since the March 11 earthquake, tsunami and nuclear safety crisis erupted, triggered the biggest two-day rout in the market since 1987. In contrast, the MSCI index of Asian shares outside Japan has gained 4.9 percent.
Dainippon Sumitomo Pharma Co surged 5.6 percent to 771 yen in active trade after the Nikkei business daily reported it had signed a licensing deal that gives Takeda Pharmaceutical Co exclusive marketing rights to its antipsychotic drug in most of Europe. [ID:nL3E7EU31B] (Reporting by Antoni Slodkowski; Editing by Michael Watson)