TOKYO, Sept 5 (Reuters) Japanese stocks are expected to rise on Wednesday after Wall Street rallied

TOKYO, Sept 5 (Reuters) Japanese stocks are expected to rise on Wednesday after Wall Street rallied and a report on August manufacturing eased economic concerns, but gains were likely to be limited by caution ahead of more U.S. indicators due out later this week.

The Wall Street rise was buoyed by technology shares, which are likely to forge higher in Tokyo, and attention will be on firms such as Sony Corp, which said on Tuesday it will list shares of its financial unit on the Tokyo Stock Exchange on Oct.

11, raising up to 361 billion yen ($3.1 billion) in Japan's largest initial public offering this year.

"The market will rebound after the positive showing in the United States, but there still isn't a lot of energy and investors are likely to sell to lock in profits at the highs," said Hiromichi Nishi, general manager of the equities division at Nikko Cordial Securities.

"With a lot of U.S. indicators yet to come out this week, the market remains cautious, with many opting to wait and see." A U.S. report showing only a narrow slowdown in August manufacturing activity helped the dollar strengthen against the yen to move at around 116.27 yen, and it was around 116.22 yen in early Asian trade.

An optimistic outlook for technology shares buoyed Wall Street, with high oil prices boosting the energy sector, and similar trends were seen likely in Tokyo, with shares in high tech, trading houses and shipping firms expected to be active.

The Nikkei was expected to trade between 16,450 and 16,600.

Nikkei futures traded in Chicago finished at 16,550.00 on Tuesday, up from the 16,400 Osaka close, an indication that Tokyo shares are likely to rise.

Nikko Cordial's Nishi said that the market was likely to test the topside at around 16,550 and that if it managed to break through it was likely to forge higher, but it remained to be seen if there was enough energy to do so.

The benchmark Nikkei average slipped 0.63 percent, or 104.46 points, to 16,420.47 on Tuesday. The broader TOPIX index declined 0.54 percent, or 8.70 points, to 1,596.74.

The Dow Jones industrial average rose 91.12 points, or 0.68 percent, to end at 13,448.86. The Standard and Poor's 500 Index was up 15.43 points, or 1.05 percent. The Nasdaq Composite Index was up 33.88 points, or 1.30 percent, at 2,630.24.

The Nasdaq has risen 5.2 percent in the last four sessions, its best four-day run since October 2003.

STOCKS TO WATCH --Komatsu Ltd Komatsu, the world's No. 2 maker of earth-moving equipment, will likely post net profit growth of about 20 percent again in the next business year if current favourable market conditions continue, its CEO said on Tuesday.

-- Tokyo Broadcasting System (TBS), Rakuten TV broadcaster TBS may not activate its takeover defence measures against Internet firm Rakuten given that an independent committee is likely to decide that TBS' corporate value will not significantly decline even if Rakuten raises its stake to about 21 percent, the Nikkei business daily reported on Wednesday.

-- Sony Corp Sony said it will list shares of its financial unit on the Tokyo Stock Exchange on Oct. 11, raising up to 361 billion yen in Japan's largest initial public offering this year.

Separately, mobile handset maker Sony Ericsson said on Tuesday its president, Miles Flint, would step down and would be succeeded by Sony Electronics USA Chairman Hideki "Dick" Komiyama as of Nov. 1.

Flint's resignation came as a surprise to analysts, who applauded his performance but highlighted the challenge his successor will face as the firm tries to stay profitable while stealing market share from entrenched rivals.

-- Tokyo Dome Corp Tokyo Dome, which operates the Tokyo Dome baseball stadium and leisure facilities, will likely post a group operating profit of 6.8 billion yen for the first half ended in July, up 8 percent year-on-year, the Nikkei business daily reported on Wednesday.

The growth figure is half the 16 percent originally forecast by the company due to a drop-off in visitors to its LaQua natural hot springs spa, the newspaper said.

--Nissan Motor Co Japan's third-biggest automaker Nissan named Renault SA's Alain Dassas as its chief financial officer, filling a position that had been vacant for more than four years.

Dassas, a finance expert who heads Renault's Formula One Team, will take his new role on Sept. 17, Nissan said in a statement. He will report to Carlos Ghosn, chief executive of both Nissan and Renault, which owns 44 percent of the Japanese company.

-- Morinaga and Co Ltd Candy maker Morinaga said on Tuesday that it would buy a plot of land in Gunma Prefecture, central Japan, from Kirin Holdings and in the future would build a factory on the site to consolidate production of other factories in Japan.

The company did not disclose financial terms but the Nikkei business daily said Morinaga would invest more than 40 billion yen to build the plant, which will be its first in 27 years.

REUTERS PBB KP0622