TOWER REPORTS SMOKE FROM B747 DURING TKOF ROLL AND FLT CREW DECLARES AN EMERGENCY AND RETURNS TO HAVE THE TIRES INSPECTED.

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AFTER TKOF; ZZZ TWR RPTED SMOKE FROM THE NOSEWHEEL DURING THE TKOF ROLL AND SAID THAT ANOTHER ACFT AWAITING TKOF HAD SEEN IT AS WELL. THE ACFT HAD PULLED SLIGHTLY R DURING TKOF AND THAT WAS COUNTERACTED BY THE FO APPLYING RUDDER AND I USED THE TILLER. THE FE CONFIRMED THE LNDG GEAR WAS IN THE WHEEL WELLS AND THAT EVERYTHING APPEARED NORMAL. I ASKED THE FE TO CALL THE COMPANY MAINT CTL AND ASK WHETHER THEY WANTED US TO CONTINUE TO ZZZ1 OR RETURN TO ZZZ. THEY AND I BOTH FELT A RETURN TO ZZZ WAS THE RIGHT COURSE OF ACTION. I DECLARED AN EMER AND ASKED FOR A LOW PASS FOR GEAR INSPECTION. THE FO FLEW THE ACFT; AND I MONITORED THE FLT PATH. TWR RPTED THE GEAR LOOKED NORMAL. I MADE THE DECISION TO MAKE A VISUAL PATTERN AND RETURN FOR LNDG. I PERFORMED THE LNDG USING 30 DEGS FLAPS AND MINIMAL REVERSE THRUST TO HOLD THE NOSE GEAR OFF AS LONG AS POSSIBLE. NO FURTHER PROBS OCCURRED DURING LNDG. I TAXIED OFF THE RWY AND CAME TO A STOP. THE GEAR WAS INSPECTED BY ZZZ EMER SVCS AND A COMPANY REPRESENTATIVE. THEY RPTED TIRE WEAR BUT NO FURTHER DAMAGE. WE WERE TOLD IT WAS OK TO TAXI. THE TAXI WAS NORMAL. AFTER SHUTDOWN THE LOGBOOK WAS FILLED OUT; SIGNED BY ME; I PULLED OUT A COPY FOR MY RECORDS AND GAVE THE LOGBOOK TO MAINT. I THEN PROCEEDED INTO COMPANY OPS TO FILL OUT AN IRREGULARITY RPT. AFTER WRITING A ROUGH DRAFT; I CONSULTED FURTHER WITH THE FO AND FE. THE FE TOLD ME HE ENDED UP PUSHING #4 THRUST LEVER 3 INCHES FURTHER UP THAN THE OTHER 3. THAT WAS RPTED TO ME AFTER I HAD SIGNED THE LOGBOOK; PULLED A COPY FOR PERSONAL RECORDS AND GIVEN THE LOGBOOK TO MAINT. I INCLUDED THE FACT IN MY IRREGULARITY RPT AND IN MY SUBSEQUENT TELEPHONE RPT TO AN ACTING CHIEF PLT. MAINT RPTED THAT A NOSE TIRE HAD SHED ITS 'CAP' (IE; TREAD) THAT HAD ACCOUNTED FOR THE SMOKE.