TOKYO, Nov 1 (Reuters) - Japanese shares edged higher on Tuesday, with investors taking cues from strong outlook of some companies amid a mixed earnings season, while focus was also on the outcome of the U.S. Federal Reserve policy meeting.

The Nikkei gained 0.21% to 27,646.34 by the midday break, while the broader Topix rose 0.43% to 1,937.76.

"Domestic companies so far have reported mixed results - some were strong and some were weak. So there were mixture of selloffs and buyings," said Chihiro Ohta, assistant general manager at the investment research and investor services at SMBC Nikko Securities.

"And investors were cautions about the outcome of the FOMC, which also made the market directionless."

The U.S. central bank is all but certain to raise interest rates by 75 basis points on Wednesday, but investors will look for any signals the Fed may be considering a deceleration in interest rate hikes in the future.

Japan Tobacco jumped 8.54% and was the top gainer on the Nikkei, after the cigarette and drink maker raised its annual profit forecast.

Panasonic Holdings climbed 6.86% despite posting an 11% drop in second-quarter operating profit, as the conglomerate performed better than analysts' estimates.

Murata Manufacturing, on the other hand, lost 2.33% after, the electric component maker cut its annual profit forecast.

Shipping firm Kawasaki Kisen was the biggest loser on the Nikkei, falling 3.27%.

There were 146 advancers on the Nikkei index against 73 decliners. (Reporting by Junko Fujita; Editing by Rashmi Aich)