April 6 (Bloomberg) -- Japan's Topix index gained after oil prices fell for a third day, easing concern higher energy costs will reduce consumer spending and corporate profits. Exporters such as Nissan Motor Co. and Sharp Corp. advanced.

U.S. Federal Reserve Chairman Alan Greenspan yesterday said that a ``frenzy'' in energy prices may moderate.

``Declines in oil prices will help bolster sentiment for shares, especially exporters,'' said Yutaka Miura, a manager at Shinko Securities Co. in Tokyo. ``Greenspan's comments suggest that gains in oil prices are only temporary.''

Oil producers and explorers including Inpex Corp. and Japan Petroleum Exploration Co. fell along with crude prices.

The Topix advanced 1.62, or 0.1 percent, to 1191.41 as of 9:34 a.m. in Tokyo. Automakers and computer-related shares accounted for most of the gain. The Nikkei 225 Stock Average was little changed, adding 1.13 points to 11,775.44.

Nissan, which generated two-thirds of its sales from abroad last year, gained 13 yen, or 1.2 percent, to 1,121. Sharp, Japan's largest maker of liquid-crystal displays, rose 15 yen, or 1 percent, to 1,651.

Toyota Motor Corp., which gets as much as 70 percent of its operating profit from North America, according estimates from Koji Endo, an analyst at Credit Suisse First Boston Japan Inc., added 30 yen, or 0.7 percent, to 4,110.

Crude-oil futures for May delivery fell 0.7 percent to $55.66 a barrel in after-hours electronic trading on the New York Mercantile Exchange. Yesterday, the May contract fell 1.7 percent to $56.04 a barrel. Oil reached $58.28 the day before, the highest since trading began in 1983.

Inpex, Japan Petroleum

Japan imports almost all of its oil. The U.S., the world's largest economy, Japan's second-biggest export destination last year after China, used more than a quarter of the world's oil production last year.

Inpex, Japan's largest oil explorer, dropped 4,000 yen, or 0.7 percent, to 610,000. Japan Petroleum, Inpex's smaller rival, fell 30 yen or 0.6 percent, to 4,740. AOC Holdings Inc., which also explores for oil, lost 40 yen, or 2.4 percent, to 1,658.

Elsewhere, Aeon Co., Japan's largest retailer, dropped 27 yen, or 1.5 percent, to 1,786. The company will take a charge of 70 billion yen ($646.3 million) to write down the value of its fixed assets during the current business year through Feb. 28, 2006, the Nihon Keizai newspaper reported.

Elpida Memory Inc., the world's fifth-largest memory chipmaker, gained 20 yen, or 0.5 percent, to 4,120. The company plans to shift chip assembly and testing to companies in Taiwan as early as 2007 to cut costs, Nikkei English News said.

To contact the reporter for this story: Michael Tsang in Tokyo at mtsang1@bloomberg.net.

Last Updated: April 5, 2005 20:36 EDT