TOKYO, Nov 1 (Reuters) - Japanese shares ended higher on Tuesday, with investors taking cues from some companies' strong outlooks, even as shares of Toyota Motor fell after posting a worse-than-expected earnings.

The Nikkei rose 0.33% to 27,678.92, while the broader Topix gained 0.47% to 1,938.50.

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

Toyota fell 1.94% and weighed on the Nikkei after reporting a 25% drop in September quarter profit and cut its annual output target, as the automaker battles surging material costs and a persistent semiconductor shortage.

On the other hand, Japan Tobacco jumped 8.73% and was the top gainer on the Nikkei, after the cigarette and drink maker raised its annual profit forecast.

Panasonic Holdings climbed 7.33% despite posting an 11% drop in second-quarter operating profit, as the conglomerate performed better than analysts' estimates.

Investors were cautions about the outcome of the U.S. Federal Reserve policy meeting, which also made the market directionless, said Ohta.

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.

Mobile phone maker Kyocera, which slipped 7.49%, was the biggest loser on the Nikkei, followed by drug maker Sumitomo Pharma, which lost 3.66%, and shipper Kawasaki Kisen Kaisha, which was down 3.36%. (Reporting by Junko Fujita; Editing by Rashmi Aich)