TOKYO, Feb 24 (Reuters) - Japan's Nikkei share average rose the most in a month on Friday, rebounding from a one-month low hit in the previous session, as chip-related stocks surged and the incoming Bank of Japan governor backed the current easy policy.

The Nikkei had gained 1.09% to 27,398.78 by the midday recess, after earlier rising as much as 1.33%. That followed a dip to the lowest since Jan. 23 at 27,046.08 on Wednesday. Japanese markets were closed on Thursday for a national holiday.

Friday's gains were lopsided, with chip industry giants Tokyo Electron and Advantest contributing about half of the Nikkei's total 294-point gain. Tokyo Electron and Advantest advanced 6.12% and 7.82%, respectively, after U.S. peer Nvidia forecast better-than-expected quarterly sales.

Of the Nikkei's 225 components, 166 rose, 54 fell and five were flat.

BOJ governor nominee Kazuo Ueda started several hours of lower house testimony by saying that the current BOJ policy was "appropriate" and "necessary", although he added that "if the underlying outlook for prices improves further, we will have no choice but to think about policy normalisation."

Earlier in the day, data showed Japan's consumer inflation hit a 41-year high in January.

Bank shares underperformed on the idea of low yields for longer, with the Tokyo Stock Exchange's banking sector subindex declining 0.31%.

The broader Topix - which is heavier with financial stocks compared with the predominance of tech shares in the Nikkei - rose a more modest 0.57% to 1,986.43.

The TSE's worst performing sector was pharma, dropping 1.1% after U.S. peer Moderna refrained from raising annual sales forecasts for its COVID-19 vaccines.

Drugmakers made up two of the Nikkei's three worst-performing stocks, with Daiichi Sankyo losing 2.22% and Takeda dropping 2.19%.

The Nikkei was staring at a second straight weekly loss, down 0.42% from last Friday. The Topix was on track for a 0.28% weekly slide. (Reporting by Kevin Buckland; Editing by Subhranshu Sahu)