nuclear-news

Kyushu Electric, a regional monopoly that supplies power in southern Japan, said on Wednesday it was in talks with state-owned Development Bank of Japan for financial backing. On Tuesday, a source said Hokkaido Electric Power Co (9509.T), which supplies Japan’s northernmost island, had asked the same bank for financial assistance…….

We are in consultations with the Development Bank of Japan about receiving capital support, but since nothing has been decided I am unable to comment further,” said Kyushu spokesman Yuki Hirano.

Kyushu Electric is asking the bank to buy 100 billion yen of preferred stock in the company, a source said. The lender is considering the request, which was reported earlier by the Nikkei business newspaper.

If both Kyushu Electric and Hokkaido Electric get the aid, they would join the stricken Fukushima plant’s operator, Tokyo Electric Power Co (Tepco) (9501.T), in receiving government bailouts. Other nuclear operators may be forced to turn to the government, the Nikkei said on Tuesday.

In 2012, the government took a controlling stake in Tepco. The company still relies on constant taxpayer handouts to pay compensation to those affected by the nuclear disaster, which forced 160,000 people from their homes……..

Shares in Kyushu Electric were down 4.6 percent in mid-morning trade, after falling as much as 6.5 percent, versus a 1.1 percent rise in the benchmark Nikkei 225 .N225.

Kyushu Electric has estimated a net loss of 125 billion yen for the year ended March 31……

Prime Minister Shinzo Abe is moving to revive nuclear power as a core part of Japan’s energy mix, but many of those idled reactors will never be restarted.http://in.reuters.com/article/2014/04/02/japan-nuclear-kyushu-idINDEEA3100Z20140402