Hitachi to take a 70 billion yen hit after U.S nuclear project fails

The nuke biz is going down like dominoes. Hitachi announces a nearly $6.2 billion loss on its U.S. uranium enrichment joint effort with GE.

Electronics giant Hitachi Ltd. is set to lose tens of billions of yen this fiscal year due to the withdrawal from a project to develop a new method of uranium enrichment by a joint venture in the United States.

The loss, forecast by Hitachi on Feb. 1, was disclosed shortly after Toshiba Corp. made a similar announcement last month of deficits brought on by its nuclear power business.

Hitachi is expected to report a 70 billion yen ($620 million) non-operating loss by the time books are closed for fiscal 2016 at the end of March, said Mitsuaki Nishiyama, a senior vice president of the Tokyo-based conglomerate, in a news conference on the company’s performance through the third quarter.

The deficit is largely attributed to the joint venture GE Hitachi Nuclear Energy Inc. withdrawing from the uranium enrichment project. Due to this decision, Hitachi no longer expects any profits from the North Carolina-based company, of which it owns 40 percent and the rest by General Electric.

After allocating the losses, the value of Hitachi’s share of the joint venture comes to only about 11 billion yen.

Despite the gloomy news, Nishiyama said that “there are no more large deficit risks.”

Hitachi and GE were expecting more nuclear power plants to be built when they launched the joint fuel enrichment business, but orders have been sluggish across the globe, forcing the project to be shelved.

Nevertheless, Hitachi will be sticking with its nuclear power business. The company said that it plans to proceed with its project to build a plant in Britain by ensuring costs are thoroughly managed.

http://www.asahi.com/ajw/articles/AJ201702020042.html

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1.This Month

How the viewing public was ‘protected’ from seeing what the Hiroshima and Nagasaki nuclear bombing did to people

Hiroshima and Nagasaki on the cutting room floor https://thebulletin.org/2019/08/hiroshima-and-nagasaki-on-the-cutting-room-floor/ By Thomas Gaulkin, August 5, 2019 Seventy-four years after nuclear weapons were first and last used in war, it can be challenging to conceive of the devastation they cause. But even in the immediate months after the atomic bombs were dropped on Hiroshima and Nagasaki in August 1945, news accounts offered a view of ingenuity and destruction that often elided the human cost.

The newsreels below [on original] were mainly screened to audiences in 1946 and 1947 and detail the destructive force of the explosions almost entirely through excited accounts of the structural damage to the cities. There’s occasional mention of the lost city populations and the scientific knowledge to be gained from studying their casualties, but hardly any description of what people actually suffered, let alone personal accounts. It’s instructive to look at and listen to these reports today, and contemplate what is missing.

The 12-minute reel below was produced by the US War Department in 1946. “Tale of Two Cities” makes selective use of film that was confiscated from a Japanese filmmaker, Akira Iwasaki—though you wouldn’t know that from the narration, which boasts that “army cameramen have found and filmed pictorial evidence that tells in twisted steel and stone the effect of death-dealing atomic power.” (Some twenty years later, historian Eric Barnouw obtained more of Iwasaki’s footage and produced a remarkably different narrative that documented the horrible physical impact of the attacks on Hiroshima’s citizens.)

Contrasted with the triumphant tone of the news/propaganda made for 1940s audiences, silence changes everything. Made public only decades later, the two films below —one beginning with footage of wounded victims, the other, a full-color glimpse of survivors picking up the pieces of the ruined city—report what those above do not, without a single word.

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